Capital Rx
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- Today, Inc. revealed that Capital Rx is No. 33 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy's most dynamic segment—its independent businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
"At Capital Rx, we are passionate about modernizing healthcare infrastructure to reduce costs and deliver superior care," said AJ Loiacono, co-founder and CEO of Capital Rx. "Ranking at No. 33 confirms the country is embracing our model to achieve the lowest drug trend, the best clinical outcomes, and the highest satisfaction scores in the industry."
The companies on the 2022 Inc. 5000 have not only been successful but have also demonstrated resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19. Among the top 500, the average median three-year revenue growth rate soared to 2,144 percent. Together, those companies added more than 68,394 jobs over the past three years.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, which will be available on August 23.
"The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated," says Scott Omelianuk, editor-in-chief of Inc. "Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today."
Debuting on the Inc. 5000 list at No. 33 comes during a year of record growth for Capital Rx, highlighted by securing a $106 million Series C investment round that will fuel improvements in prescription management and healthcare infrastructure solutions. Capital Rx also expanded into Medicare and Medicaid and signed several new clients earlier this year, including CDPHP, a major New York state health plan. Customer retention is a remarkable 99.5%, and Capital Rx's year-over-year consumer membership grew by over 100%. With more than 170 employer groups, unions, health plans, and government entities as customers, Capital Rx covers more than 1.6 million lives with access to affordable prescription medications.
Capital Rx's growth can be attributed to its technology-driven innovations, eliminating arbitrary prescription drug price variability. Capital Rx has spent several years building and commercializing JUDI™, the healthcare industry's first Enterprise Pharmacy Platform (EPP). By unifying all operations into a single platform – plan build, implementation, claims adjudication, data exchange, prior authorization, client reporting, billing/reimbursement, member tools, and more – JUDI™ delivers on the promise of improved care for patients and unrivaled operational efficiency for health plans, TPAs, PBMs, health systems, and employers.
More about Inc. and the Inc. 5000
Methodology
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine's September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000.
About Inc.
The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, visit http://conference.inc.com/.
About Capital Rx
Capital Rx is built around the mission of changing the way prescription drugs are priced and patients are serviced. A health technology company daring to reimagine the pharmacy benefits industry, Capital Rx is executing on that mission through its Clearinghouse Model® - the first equitable framework for drug pricing. Capital Rx's enterprise pharmacy platform, JUDI™, connects every aspect of the pharmacy ecosystem in one platform, enabling patient engagement and increasing efficiency to achieve the highest standards of clinical care. For more information, visit www.cap-rx.com.
Media Contact:
Kimberly Dreisinger | 805-350-4421
capitalrx@hermesprgroup.com
SOURCE Capital Rx