Day 1 of our first Partner Summit has been incredible! The weather did its best to disrupt almost everyone's travel coming from across the country, but we've had a great time at our HQ (#OneWTC) sharing updates on our strategic alliance with Prime Therapeutics, how to approach a pharmacy #RFP, why JUDI® enabled the development of the first comprehensive #M3P solution in our industry, our amazing partnership with New York City FC, and much more! A small #photodump... #PharmacyBenefitAdministration #PBM #networking #plansponsors #employeebenefits
Capital Rx
Hospitals and Health Care
New York, NY 72,653 followers
Affordable Pharmacy Benefits, Powered by Modern Infrastructure.
About us
Capital Rx is a healthcare technology company advancing our nation’s electronic healthcare infrastructure to improve drug price visibility and patient outcomes. As a Certified B Corp™, the company is executing its mission through the deployment of JUDI®, Capital Rx’s cloud-native enterprise health platform, and an efficient Single-Ledger Model™, which increases visibility and reduces variability in drug prices. JUDI connects every aspect of the pharmacy ecosystem in one platform, servicing over 2.4 million members for Medicare, Medicaid, and commercial plans. Together with its clients, Capital Rx is reimagining the administration of pharmacy benefits and rebuilding trust in healthcare. To learn more, visit capitalrx.com.
- Website
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https://cap-rx.com
External link for Capital Rx
- Industry
- Hospitals and Health Care
- Company size
- 501-1,000 employees
- Headquarters
- New York, NY
- Type
- Privately Held
- Founded
- 2017
- Specialties
- pharmacy benefit management, healthcare analytics, benefit strategy, claim adjudication, clinical services, plan implementation, health technology, group purchasing, pharmacy benefit administration, retail network management, and platform as a service
Products
Locations
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Primary
285 Fulton St
New York, NY 10007, US
Employees at Capital Rx
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Jeffrey Jollon
Senior Finance Executive | Healthcare Services | PBM
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Jack Bennett
Raising revenue, lowering costs, reducing business risk, and improving customer experience by solving complex business problems with technology and…
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Feby Abraham
Executive Vice President, Chief Strategy and Innovations Officer at Memorial Hermann Health System, Former McKinsey Partner
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Robert Mittendorff, MD, MBA
General Partner and Head of Healthcare at B Capital
Updates
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For all the #plansponsors and #fiduciaries out there, Kristin Begley, PharmD's "old" op-ed on why you should focus on the responsibilities outlined in the Consolidated Appropriations Act (#CAA), is worth reading (or re-reading). 📣 She explains five steps that remain relevant and should be top of mind, including establishing internal processes (you'll NEED your data ASAP), evaluating broker commissions, and forging close HR and CFO partnerships. We've been stressing the importance of alignment and clear/transparent pricing for 7 years, which is why we're now serving over 3 million members. Let us know if you have questions or would like to chat about what a true partnership with a #PBM looks like. #PharmacyBenefitAdministration https://okt.to/MEdCxc
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As we enter the weekend, we wanted to highlight another #podcast for you to listen to, this one featuring our very own Heidi McKinnon, PharmD, CHC! She joined the Healthicity Compliance Conversations podcast to discuss digital #pharmacies (among other things), including the regulatory challenges they face, the evolving landscape, and practical tips for #compliance officers new to the digital pharmacy sector. A big "thank you" to CJ Wolf, MD, CPC, CPC-I for having Heidi on to discuss these important topics! You can listen to the full episode below. https://okt.to/zUSE9x
Thank you for listening to the podcast.
healthicity.com
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We were excited to have Nicholas Van Hook (VP, Commercial Markets) on the #AstonishingHealthcare podcast (though our host did have to agree to take his New York Rangers cap off). They chatted about the state of #PharmacyBenefitManagement, how #GLP1s, specialty drugs, and other factors have affected plan costs, and Capital Rx's approach to #PharmacyBenefitAdministration. As Nick puts it, "We are here to administer your plan. The data is yours. We have a fair acquisition cost pricing model, and at the end of the day, we're going to give you the information you need to make a more informed decision." 🎧 Listen to the full episode here: https://lnkd.in/geZ7GHWx
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Did you see this interesting study by the National Pharmaceutical Council? The authors -- Rochelle Henderson, PhD, MPA, Julie Patterson, PharmD, PhD, and John O'Brien, MPH -- dug into employers' understanding of rebate guarantees, their dependency on rebate dollars, and the role rebates and #pharmacybenefit consultants play in #PBM selection. We spend lots of time explaining the importance of properly evaluating #drugmix and how to run a better, fairer procurement process, so the findings may or may not surprise you. We won't spoil it, but some highlights include: 💊 Nearly two-thirds of employers reported having rebate agreements with a rebate guarantee for specialty drugs 🤝 A benefits consultant was often the most influential person on rebate strategy decisions 💰 Employers with rebate guarantees ascribed a higher level of importance to guarantees when selecting a PBM than those without a guarantee, despite the "concerns that rebate guarantees may obscure visibility" into net drug prices, ultimately driving up costs for the plan (and members) Click below to read the entire study. https://okt.to/aAGOrb
Prescription Rebate Guarantees: Employer Insights
ajmc.com
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It's hard to believe we're at the end of July! Our entire team has been busy, and all our recent #news is in our July #newsletter, including our new partnerships with XO Health Inc. and the Lehigh Valley Business Coalition on Healthcare (LVBCH), the U.S. Patent we received for JUDI®'s Tags and Overrides feature, four new #AstonishingHealthcare episodes, and Brian TenEyck's advice on #PBM procurement. Click below to read it now! #PharmacyBenefitAdministration #Healthtechnology #healthtechinnovation
Capital Rx Insights (July 2024)
Capital Rx on LinkedIn
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"The future of healthcare lies in transparency, real-time data, and the ability to connect the 'Four Ps:' Payers, Providers, Patients, and #Pharmacy," said Sunil Budhrani MD MPH MBA, Chief Innovation and Medical Officer at Capital Rx. "XO Health selecting us as their exclusive PBA marks another step forward as we show how JUDI® powers the workflows necessary to achieve this vision." We're excited to work with Swati Mathai and the team at XO Health Inc. to revolutionize how pharmacy costs are managed in advanced payment models (#APMs). Read more about the announcement below! #PharmacyBenefitAdministration #HealthCareCosts #WholePersonCare https://okt.to/TdXVmv
XO Health Selects Capital Rx as its Exclusive Pharmacy Benefits Administrator | Capital Rx
cap-rx.com
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On our 28th #AstonishingHealthcare episode, we dove into how flexible and efficient JUDI® is. The benefit of being able to evolve rapidly, or even before the industry evolves, is tangible and just another reason Jillian Lonson, PMP®, and Jean Beman love JUDI. ❤️ Listen to the full episode here: https://okt.to/nH5urM #PharmacyBenefitAdministration
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National Average Drug Acquisition Cost (#NADAC) is one of many drug price indexes in the U.S.; however, it is unique in that it represents retailers' true cost of acquiring drugs into inventory - i.e., NADAC reflects the actual economics in the supply chain, and when the real cost of a drug goes down, NADAC follows suit and deflates. Also: 💰 Using NADAC as a benchmark eliminates a #PBM’s ability to profit from a "pricing gap” that exists when other price indexes, such as Average Wholesale Price (#AWP), are used; and 🔎 And, as Congressman Jake Auchincloss highlighted during the House Committee on Oversight and Government Reform Hearing (7/23) - The Role of Pharmacy Benefit Managers in Prescription Drug Markets Part III: Transparency and Accountability - NADAC is freely available/accessible for reference. Check out his comments below, and if you missed the hearing, the replay is available here: https://okt.to/Be4i38
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For today's #AstonishingHealthcare episode, we continue our conversation with Jillian Lonson, PMP®, and Jean Beman, diving deeper into pharmacy benefit configuration, enhancements, and testing - including what JUDI® is capable of. They highlight the importance of leveraging modern tools to meet evolving needs within #healthcare and how JUDI's flexible and modular design allows us to stay ahead of the curve (e.g., our #M3P solution). Listen to the full episode here, and don't forget to subscribe if you like what you're hearing! 🎧 https://okt.to/2Rp4XZ