RxAdvance Stock
National Full Service PBM
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About RxAdvance Stock
The PBM industry, which manages over $300B in prescription drug-spending, provides limited and fragmented services forcing plan sponsors to outsource critical functions to multiple vendors making it difficult to manage avoidable drug-impacted medical risk. To accomplish optimal utilization of drug benefit, reduction in overall pharmacy costs, reduction in avoidable drug-impacted medical costs, and optimize specialty spend it is critical to engage members, physicians, pharmacists, and plan sponsor’s clinical/pharmacy staff in the decision making process. At RxAdvance, such collaboration is delivered through Collaborative PBM Cloud™, resulting in a new paradigm of collaboration in the PBM industry. Collaborative PBM Cloud™ revolutionizes the delivery of actionable intelligence to the physicians at the point of care, pharmacists at the point of sale, members through mobile cloud, while effectively engaging the plan sponsor’s clinical/pharmacy staff through case/care management workflows. The Collaborative PBM Cloud™ is also enabling RxAdvance to run at 40% less operating costs than any other PBM. This cost savings provide additional reduced administrative fees, reduced drug unit costs, and increased rebate income to plan sponsors. RxAdvance, a national full service PBM, leverages disruptive Collaborative PBM Cloud™ to manage standard & specialty drug benefits with unmatched regulatory compliance and transparency. In addition, RxAdvance is willing to share global pharmacy risk standing shoulder-to-shoulder with plan sponsors. This risk model has never been offered by any other PBM.
Investors
Funding History
September 2018 | $50.0M |
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Management
Chief Executive Officer
Ravi Ika
Press
morningstar - Jul, 10 2023
nirvanaHealth’s Payer & PBM business suite, Aria will go live during open enrollment this year and launch on Microsoft Azure Marketplacebusinesswire - Apr, 22 2022
HealthTeam Advantage Partners with nirvanaHealth to Implement the First Integrated Payer & PBM Platform Ever Built to Automate Entire Payer and PBM Operationsentrepreneur - May, 13 2020
The 3 Things It Takes to Turn a Billion-Dollar Business Idea Into RealityForbes - Mar, 23 2020
Amazon Shifts Employees To PillPack And PBM RxAdvance