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Full-Time

Account Manager

Posted on 6/27/2024

SmithRx

SmithRx

201-500 employees

Pharmacy benefit management with transparent pricing

Enterprise Software
Healthcare

Mid, Senior

Remote in USA

Category
Customer Success Management
Sales & Account Management
Required Skills
Management
Requirements
  • 3-5 years of direct account management or relationship management experience in the healthcare space
  • Working knowledge of commercial health insurance and pharmacy benefits strongly preferred
  • Bachelor’s degree or equivalent experience required
Responsibilities
  • Complete reporting and data requirements based on client and team needs
  • Be accountable for customer satisfaction and retention of assigned client(s)
  • Build trusting relationships with client operational leadership
  • Maintain a comprehensive understanding of business challenges faced by customers
  • Apply cross-functional project management to drive resolution for escalated client issues, coordinating internal and external teams as necessary
  • Support research and data activities to drive resolution for escalated client issues, coordinating with internal and external teams as necessary
  • Identify product gaps by conducting business impact assessments and managing client expectations
  • Prioritize issues and assess escalations that may lead to client attrition risk with the Account Managers to ensure a strong mitigation plan is in place

SmithRx operates as a Pharmacy Benefit Manager (PBM) that focuses on managing prescription drug plans for self-insured employers and plan sponsors. The company uses a transparent pricing model called "Pass Through Pricing," where it charges only an administrative fee and passes all rebates from prescriptions directly to clients and their members. This model contrasts with traditional PBMs that often inflate drug prices and retain rebates for profit. SmithRx's clients benefit from a technology platform that utilizes real-time data to improve service delivery, ensuring efficient and high-quality pharmacy benefit management. The company also provides a concierge service to enhance support for both members and clients. By prioritizing transparency, advanced technology, and exceptional customer service, SmithRx aims to simplify pharmacy benefits and maximize value for its clients.

Company Stage

Series C

Total Funding

$98.7M

Headquarters

San Francisco, California

Founded

2016

Growth & Insights
Headcount

6 month growth

9%

1 year growth

30%

2 year growth

232%
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Simplify's Take

What believers are saying

  • SmithRx's recent $60M Series C funding led by Venrock positions the company for significant growth and innovation in the PBM market.
  • The partnership with Banjo Health to revolutionize prior authorization processes demonstrates SmithRx's commitment to leveraging cutting-edge technology for improved efficiency and transparency.
  • SmithRx's collaboration with TheracosBio to offer newly approved diabetes drugs highlights its dedication to providing cost-effective and essential medications to its members.

What critics are saying

  • The PBM market is highly competitive, and SmithRx must continuously innovate to maintain its unique value proposition.
  • Reliance on the 'Pass Through Pricing' model may limit revenue growth compared to traditional PBMs that profit from rebates and hidden fees.

What makes SmithRx unique

  • SmithRx's 'Pass Through Pricing' model ensures complete transparency by passing 100% of rebates to clients, unlike traditional PBMs that profit from hidden fees and inflated drug prices.
  • The company's robust technology platform leverages real-time data to enhance service offerings, setting it apart from competitors who may rely on outdated systems.
  • SmithRx's concierge service provides exceptional support to both members and customers, further distinguishing it from other PBMs that may lack personalized customer care.

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