NEW YORK--(BUSINESS WIRE)--Capital Rx (https://www.cap-rx.com/), the fastest-growing pharmacy benefit manager in the U.S., announced today it has been chosen as the pharmacy benefit administrator (PBA) for Friday Health Plans, a health insurance upstart focused on the individual consumer and small group employer plans that is expanding coverage to Nevada, New Mexico and Texas in 2021. The arrangement enables Friday Health to offer more affordable and transparent drug plan options for the general public and small employers.
“This is a natural fit, as Friday Health Plans is an organization committed to providing cost certainty to its members,” said AJ Loiacono, Founder and CEO at Capital Rx. “Friday Health Plans will access JUDI, our cloud-native pharmacy platform and our Clearinghouse℠ Model that eliminates spread pricing, to provide an unprecedented level of patient care for their members.”
"As we expand the markets we cover, it is essential that we partner with companies that share our vision to bring transparency to healthcare," said Sal Gentile, CEO of Friday Health Plans. "Partnering with Capital Rx will enhance our ability to lower costs and improve customer service for all of our members in Nevada, New Mexico and Texas.”
Capital Rx will leverage its first in class adjudication platform, JUDI, to improve member experience and provide Friday Health Plans with greater visibility into costs, trend patterns, and patient outcomes.
About Friday Health Plans
Friday Health Plans is purpose-built specifically for people and small businesses who buy their own health insurance. The company focuses on overall simplicity to offer affordable health plans with benefits that help members stay healthy and cover them if they get sick or hurt. Operational efficiency, top-notch customer service, and smart technology are core to Friday's consumer-centric approach. Headquartered in Denver, insurance products and services are state-based subsidiaries of Friday Health Plans Management Company, Inc. For more information and to find a health plan, visit www.fridayhealthplans.com.
About Capital Rx
Capital Rx is redefining the way prescriptions are priced and administered in the U.S. Through its Clearinghouse Model℠, Capital Rx unlocks the pharmacy supply chain and reduces prescription costs for employer groups. By establishing a competitive marketplace for drug pricing, Capital Rx focuses its resources on deploying actionable strategies that improve plan performance and patient outcomes. The company’s commitment to innovation, technology, and service is why Capital Rx is the fastest-growing pharmacy benefit manager in America. For more information, please visit http://www.cap-rx.com.
JUDI is Capital Rx’s pharmacy benefit management platform, a cloud-native solution offering truly plug-and-play integration with hundreds of data sources and vendors. JUDI’s technology allows for seamless communication with all stakeholders in the form of advanced analytics and reporting alongside native mobile and web consumer and member tools. The platform spans the entire lifecycle of a pharmacy benefit, from underwriting to client renewal and all points in between (implementation, invoicing and reimbursement, clinical, support, analytics, etc.). JUDI is the first cloud-native and the first full-service, end-to-end solution built this millennium.
About the Clearinghouse Model℠
Capital Rx's Clearinghouse Model is an industry first pricing model that connects buyers and sellers and rebuilds trust across the supply chain. At the center of Capital Rx’s Clearinghouse Model is a cloud-native technology platform that provides plan sponsors with full visibility to the unit price for all drugs in real time. Through this new pricing framework, Capital Rx eliminates arbitrary price variability for patients and employers.