SmithRx

This is the experience your clients and employees receive when you partner with a modern PBM that puts member experience first. 🤜 🤛 #ModernPBM #HealthcareTechnology #EmployeeBenefits #MemberExperience

This week Brown & Brown, SmithRx, Guardian Life & Paylocity, hosted The Evolving Pharmacy Landscape Lunch & Learn. Pharmacy is one of the highest concerns for employee benefits programs. We can't turn on the news or TV without being inundated with specialty pharmaceutical commercials, news about GLP1s, or political issues around Rx pricing. Special thanks to Katy Wong and Sharee Bowsher, CSFS for helping employers understand the current pharmacy climate. Thanks to the following individuals for supporting my educational event and making this possible: Jake Frenz - CEO at SmithRx David Sommers - Sr. HCM Account Executive at Paylocity Francisco Saa, J.D. - Market Leader at Guardian Life (aka Big Deal Francisco) Brandon Krohm, CLMS - Group Sales Representative #EmployeeBenefits #Pharmacy #HumanResources #Finance #SHRM #HRCI 

Breaking: The November edition of the SmithRx Broker Brief has landed! 🛬 Your monthly digest of PBM insights, all distilled into bite-sized brilliance for today's sharpest benefits professionals. Read the latest!👇 #Healthcare #BenefitsBroker #EmployeeBenefits #PBM #SmithRx

"Imagine buying a car without ever seeing the price tag." That's how Mark Cuban describes the current pharmaceutical pricing system—a broken model that leaves consumers and employers navigating a financial maze with no clear exit. In a recent interview with STAT’s Torie Bosch and Matthew Herper, Cuban dissected the legacy PBM landscape, revealing a system that obscures true drug pricing at every turn. The main issues Cuban highlights are: - Legacy PBMs negotiate drug prices with manufacturers but often don't pass those savings on to consumers or employers. Instead, they keep a "spread" for themselves. - Legacy PBMs can incentivize drug makers to raise list prices to increase the size of rebates PBMs receive. Due to the complex PBM system, employers and consumers often don't know the actual net price they're paying for medications. The solution? Just like SmithRx, Mark believes it starts with transparency. By publishing Cost Plus Drugs' price list and championing pass-through PBMs over traditional models, he's demonstrating how transparent pricing can transform healthcare. As one of the few PBMs in the Mark Cuban Cost Plus Drug Company, PBC pharmacy network, SmithRx is proud to partner in this mission of radical transparency and giving back true cost savings to patients and employers.

Earlier this year, the FTC brought legal action against the 3 largest legacy PBMs, accusing them of abusing their market power to inflate insulin prices and make it harder for patients to afford their meds. Around 30% of Americans struggle with drug affordability, with low-income, uninsured, and minority patients often hit the hardest. A recent article by Thomas Waldrop, a healthcare policy fellow at The Century Foundation, examines how legacy PBMs and drug companies drive up prices through tactics like rebate capture, spread pricing, and patent evergreening. Waldrop argues Congress should: - Require legacy PBMs to be transparent, limit spread pricing, and pass on all savings - Reform the patent system to prevent anticompetitive practices. The consequences of unaffordable prescriptions are very real—patients skipping doses, rationing their care, and risking their health. This crisis demands bold solutions. Everyone deserves access to the treatments they need, and SmithRx members already know we're committed to making that a reality. Article linked here, sources in the comments: https://lnkd.in/gjV_g9ZP

We navigate the healthcare system for you, with you, and beside you, making your treatment journey smoother. 👉 Because your medication access shouldn't add to life's stresses. 👈

This is the post legacy PBMs don't want employers to read. 👀 In an unprecedented move, we've laid bare our entire PBM pricing structure! No smoke. No mirrors. Just radical transparency. Our latest blog post isn't a corporate update—it's a manifesto for change in an industry notorious for opacity. In it, we detail our exact pricing model, explain our reasoning, and show the real savings for our clients! Learn more about how we're redefining value in healthcare: https://lnkd.in/gtjcxwBN #PBMRevolution #Transparency #Healthcare #PBM #SmithRx

Healthcare costs shouldn't keep people up at night. After witnessing the strain as both a patient and family caregiver, Jake Frenz built SmithRx to tackle one of healthcare's biggest hurdles: prescription drug prices. Today, he and the SmithRx team are transforming how Americans access affordable medications. In this candid interview with ParetoHealth's SVP of Consultant Development, 🎙Spencer Smith, CSFS®, you'll hear Jake's story, learn about our work with Mark Cuban Cost Plus Drug Company, PBC, and discover how we're creating a more transparent future for healthcare! #HealthcareInsights #PharmacyBenefitManagers #SimplifyHealthcare #ModernPBM #BetterTogether #SmithRx

Support that goes beyond the call—literally. Here's what having SmithRx in your corner means to our members. 👏 #EmployeeBenefits #PBM #BenefitsBroker #HealthcareBenefits #SmithRx

Small-town pharmacies are vanishing across America, and the evidence keeps mounting. A recent The New York Times investigation reveals just how dire the situation has become: - Nearly 800 ZIP codes that had at least one pharmacy in 2015 now have none - Just 3 pharmacy benefit managers control roughly 80% of all prescriptions in the US - Independent pharmacies report being reimbursed up to $100 LESS than their costs for common medications like Eliquis The human cost? Communities like Confluence, PA (pop. 1,000) lost their only healthcare provider when their local pharmacy closed. Some patients now travel 28+ miles to fill prescriptions. This isn't just about business—it's about healthcare equity and access. Rural and low-income communities are being hit hardest, creating "pharmacy deserts" across America. What's your take on this healthcare crisis? Have you noticed changes in pharmacy access in your community? 📰 Full article here: https://lnkd.in/dsBgCtVe #Healthcare #Pharmacy #HealthcareAccess #PrescriptionDrugs #PBMs