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SmithRx

Next-generation pharmacy benefits

201-500 employees
  • Healthcare
  • B2B
  • Analytics
  • Supply Chain
  • SaaS
South Park, San Francisco, CA

Company mission

To reduce the complexity and costs of pharmacy benefits with a cleaner business approach and the industry’s most advanced and flexible technology platform.

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Otta's take

Xav Kearney headshot

Xav Kearney

CTO of Otta

PBMs (Pharmacy Benefit Managers) save payers and patients 40% to 50% on prescription drug and related medical costs in the US, compared to what they would spend without them. It’s generally accepted, though, that PBMs are working for profit and not solely on the customers benefit.

SmithRx is a company looking to reduce complications in the current system with its innovative PBM structure. It uses its cloud-based technology to present the most cost effective options transparently to self-insured businesses, supporting them in getting the lowest cost drugs they can, as well as making the transition to these alternatives seamless.

It does this by partnering with innovative drug companies, as well as applying coupons and making use of available savings and assistance programs. As the company does not take economics from the supply chain, it is able to work for its customers with no hidden agendas. Having recently secured funding, the company is looking towards continued growth as well as pursuing leadership in the sector.

Benefits

  • Comprehensive wellness benefits including Medical, Pharmacy, Dental and Vision. We pay up to 90% for you and your family
  • Fully paid life insurance and disability benefits
  • Paid Parental Leave benefits
  • Professional development, training and career growth opportunities
  • Generous paid time off

Company values

  • Operate With Integrity: Always operate with honesty and transparency so we earn the trust of our clients
  • Courage To Transform: Demonstrate the courage needed to take on a broken industry and continuously improve what we offer to optimise health outcomes
  • Together We Succeed: Foster a collaborative and inclusive environment that values teamwork, respect, and open communication, and encourages creativity and diversity of thought

Funding (last 2 of 5 rounds)

Jan 2024

$60m

SERIES C

Mar 2022

$20m

SERIES B

$97.5m

Total funding

This company has top investors

Founders

Previously worked as Director of Plan Operations at CollectiveHealth and Project Director at Anthem Inc.

Jobs (11)

All locations

Software Engineering

Sales & Account Management