Capital Rx
- Connectivity to Surescripts® enables the delivery of members’ pharmacy benefit information to prescribers at the point of care
- The SOC 2 Type 2 report shows that Capital Rx has been able to maintain, if not improve upon, core control requirements and processes
NEW YORK, February 10, 2023 /PRNewswire/ - Capital Rx, a healthcare technology company changing the way prescription drugs are priced and patients are serviced, continues to invest in its technology and systems infrastructure and has earned Surescripts® certification for Surescripts Real-Time Prescription Benefit, and Connectivity direct to Surescripts via HTTPS. Additionally, Capital Rx completed and received its SOC 2 Type 2 report for JUDI®, the industry’s first cloud-native enterprise pharmacy platform, and its Claims Processing Services (as of June 30, 2022).
Capital Rx is one of North America's fastest-growing companies and is committed to improving the decades-old “plumbing” – i.e., claim processing infrastructure – of the U.S. health care system.
Surescripts is simplifying how healthcare professionals access patient health intelligence as part of their existing workflow; “they are the industry-leading vendor for EHR connectivity,” said Ryan Kelly, Capital Rx’s Chief Technology Officer. “Leveraging JUDI’s open architecture, we can deliver the same 100% accurate information in the Capital Rx member app to prescribers.”
The Surescripts certification received by Capital Rx is for Surescripts Real-Time Prescription Benefit and Connectivity direct to Surescripts via HTTPS. Ryan continued, “This partnership and our full implementation of Real-Time Prescription Benefit check will make it easy for prescribers to find on-formulary medications for members and search for lower-cost alternatives at the point of care, which helps patients start and adhere to prescriptions sooner. They can see if the patient is a member, view formulary products, and get cost-sharing completely inclusive of all benefit rules and accumulations.”
The SOC 2 Type 2 report from AICPA is broadly considered the data security standard. Tamara Lauterbach, Director of IT Security & Compliance at Capital Rx, said, “The SOC 2 Type 2 report shows that Capital Rx has been able to maintain, if not improve upon, core control requirements and processes that are industry best practices. It covers the Security, Availability, and Confidentiality Trust Service Categories (TSCs), and we do plan to add the Privacy TSC as early as 2024.”
In-Scope Control Objectives (COs) covered in the report provide assurance over several of Capital Rx’s business process functions, such as New Plans and Changes, Formulary, Pharmacy Information, Member Enrollment, Pricing, Claims Processing and Payment, as well as several supporting IT processes (Logical Security, Change Management, Backups & Restoration, etc.).
Capital Rx has engaged with a third-party auditor to perform its SOC 1 Type 2, SOC 2 Type 2, and SOC 3 engagements in 2023 and beyond.
About Capital Rx
Capital Rx is a full-service pharmacy benefit manager (PBM) and pharmacy benefit administrator (PBA) built around the mission to change the way prescription drugs are priced, and patients are serviced in America. A health technology company reimagining the pharmacy benefits industry, Capital Rx is executing its mission through a single-ledger model - the first ethical framework for drug pricing that allows for price transparency – and the development of JUDI®, the industry’s first cloud-native enterprise pharmacy platform, which connects every aspect of the pharmacy ecosystem in one platform. For more information, visit www.cap-rx.com.
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