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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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back within 2 weeks
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.
Steph
Company Specialist
Jan 2024
$60m
SERIES C
Mar 2022
$20m
SERIES B
This company has top investors
Founders
Jake Frenz
(CEO)Previously worked as Director of Plan Operations at CollectiveHealth and Project Director at Anthem Inc.
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