The Work Index by Flexa

SmithRx

SmithRx is a pharmacy benefits manager (PBM) that focuses on transparent and cost-effective healthcare solutions for employers and members.

https://www.smithrx.com/
5.4

/10

Transparency ranking

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Description

SmithRx is a next-generation pharmacy benefits manager (PBM) committed to disrupting the traditional, opaque, and expensive PBM model. They achieve this by focusing on radical transparency and cutting-edge technology, prioritizing the best interests of employers and patients. Their innovative cost savings programs, such as Connect 360, offer a range of solutions including low-cost biosimilars, generics, and international sourcing to secure the lowest possible prices on prescription drugs.

SmithRx's dedication to transparency extends to their pricing model, which is completely pass-through. This means that all negotiated savings are passed directly to clients, with no hidden fees or markups. They also offer comprehensive reporting and advanced analytics to help clients understand their pharmacy spend and optimize their benefits. In addition to their focus on cost savings, SmithRx also prioritizes the member experience, with a user-friendly member portal, excellent customer service, and innovative features such as real-time prescription pricing comparisons.

Benefits

SmithRx offers a comprehensive benefits package that includes medical, dental, and vision coverage for employees and their families, with employer contributions covering up to 90% of the cost. They also provide fully paid life insurance and disability benefits, paid parental leave, a competitive total rewards package, professional development and career growth opportunities, and generous paid time off.

Enhanced parental leave

Mission

SmithRx is a pharmacy benefits manager (PBM) committed to reducing the complexity and cost of prescription drugs by providing radical transparency and utilizing cutting-edge technology. They aim to create a more efficient healthcare system that benefits both employers and patients by connecting payers, pharmacy benefits, pharmacies, and members in a way that ensures the delivery of effective and low-cost medications.

Data-driven
Disruptor
Healthcare
Improving quality of life/health
Social impact led
Soonicorn
Tech for good

Culture

SmithRx promotes a culture that is centered on transparency, integrity, and collaboration. They emphasize courage in challenging the status quo and are committed to creating a more equitable and efficient healthcare system. Their core values of Courage, Integrity, and Together are evident in their commitment to honest and transparent business practices, prioritizing the well-being of both employers and patients, and fostering a supportive and inclusive work environment. This approach aims to create a culture where employees feel empowered to make a difference and contribute to a shared mission.

Entrepreneurial
Progressive
Transparent

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