What You Should Know:
– Capital Rx, an NYC-based full-service pharmacy benefit manager (PBM) and pharmacy benefit administrator (PBA) raised $50M with participation from more than 10 of the leading health systems in the nation, including Atlantic Health System, Banner Health, Hawai’i Pacific Health, Inova Health System, Lehigh Valley Health Network, Memorial Hermann Health System, Nebraska Medicine, Novant Health, Ochsner Health, and WellSpan Health, among others, as well as Transformation Capital.
– Collectively, the health systems recognize the strategic importance of collaboration to accelerate the pace of innovation in the PBM industry, including the need to improve the affordability of drugs in the U.S. and bring transparency to drug costs.
JUDI: Unifies all PBM Operations On To A Single Platform
Capital Rx is a healthcare technology company changing the way prescription drugs are priced and patients are cared for in America. The company’s cloud-native enterprise health platform, JUDI®, connects every aspect of the pharmacy ecosystem, servicing over 2.4 million members for Medicare, Medicaid, and commercial plans. Capital Rx’s JUDI is the new standard for backend claims processing platforms in the PBM and PBA industry. The funds raised in this round will support R&D related to JUDI’s modules and capabilities, the growth of Capital Rx’s award-winning member and client service teams, as well as hiring in other key areas of the company.
The combination of JUDI and a Single-Ledger Model™ allows Capital Rx to drive savings for plan sponsors while providing patients with the most appropriate care at the lowest available price. This offering represents a unique opportunity for the health systems, which are combining their resources and expertise to address the opacity and price volatility that has plagued the pharmaceutical supply chain – and driven costs higher for plan sponsors and patients – for over a decade.
