NEW YORK, April 20, 2022 /PRNewswire/ -- Capital Rx, a healthcare technology company changing the way prescription drugs are priced and patients are serviced, announced today that it has been selected by WTW's Rx Collaborative (RxC), as a new, transformative pharmacy benefits management (PBM) partner. Through this new RxC partner, employers will have access to Capital Rx's cutting-edge technology and services.
In response to growing frustrations from employers over the rising cost of prescription drugs, WTW embarked on a comprehensive search to identify a new, innovative PBM to deliver an alternative to the traditional PBM model. Capital Rx was selected for its flexible business model and novel drug pricing approach. Capital Rx fills a vital role in executing WTW's mission of adding transparency to PBM pricing and revenue sources, while offering significant financial value to employers.
"WTW's selection of Capital Rx is further validation of our mission to disrupt the traditional pharmacy benefits model and help employers gain more control over their prescription drug costs," said Matt Gibbs, President, Capital Rx. We're looking forward to engaging with self-funded employer clients to offer a new and different option. Through this partnership, Capital Rx remains true to our mission, and extends the reach of our Clearinghouse Model to hundreds of new employers."
As the fastest-growing PBM in the United States, Capital Rx offers a prescription drug pricing arrangement that reflects transparent, competitive costs for all. Capital Rx's groundbreaking Clearinghouse Model® leverages National Average Drug Acquisition Cost (NADAC), bringing visibility into actual drug unit costs and eliminating arbitrary price variability. Capital Rx's cloud-based enterprise pharmacy platform JUDI™ provides employers with significant financial savings, greater plan flexibility, and advanced reporting capabilities.
"As the largest consultant led pharmacy purchasing coalition in the U.S., we strive to provide employers with access to the most innovative prescription benefits options in the marketplace, even if it means departing from more common PBM models," said Jasmine Aral, Rx Collaborative Team Lead, WTW. "With its mission to deliver transparent drug pricing, Capital Rx has already delivered millions of dollars in prescription drug savings to its fast-growing roster of clients."
Capital Rx will participate in new bids and renewal processes through the RxC this year.
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.
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk, and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce, and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.
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SOURCE Capital Rx