RxAdvance Corp Revenue and Competitors

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Southborough, MA USA

Location

$50M

Total Funding

Insurance

Industry

Estimated Revenue & Valuation

  • RxAdvance Corp's estimated annual revenue is currently $53.9M per year.(i)
  • RxAdvance Corp received $Undisclosed in venture funding in September 2016.
  • RxAdvance Corp's estimated revenue per employee is $236,500
  • RxAdvance Corp's total funding is $50M.

Employee Data

  • RxAdvance Corp has 228 Employees.(i)
  • RxAdvance Corp grew their employee count by -6% last year.
Competitor NameRevenueNumber of EmployeesEmployee GrowthTotal FundingValuation
#1
$578.7M18793%N/AN/A
#2
$8.8M619%N/AN/A
#3
$55.9M2319%N/AN/A
#4
$27.9M15527%N/AN/A
#5
$16.9M77-6%N/AN/A
#6
$16.9M942%N/AN/A
#7
$0.6M5N/AN/AN/A
#8
$4.5M35133%N/AN/A
#9
$7.6M5213%N/AN/A
#10
$2.1M16-20%N/AN/A

RxAdvance is a national full-service pharmacy benefit manager (PBM) leveraging Collaborative PBM Cloud to manage standard and specialty drug benefits with unmatched regulatory compliance and transparency. In addition, RxAdvance offers a global pharmacy risk partnership model standing shoulder-to-shoulder with plan sponsors. RxAdvance delivers integrated PBM services that reduce overall pharmacy costs and drug-impacted medical costs while improving patients quality of life. With Collaborative PBM Cloud, we administer comprehensive PBM services with operating costs 40% lower than the costs of any other PBM today, which leads to lower administrative fees, reduced drug unit costs, and increased rebate income to plan sponsors. With Intelligent DUR360 Gateway, we promote optimal utilization of drug benefits and reduce overall medical spend. By providing intelligence at the Point of Care and Point of Sale, and establishing a robust platform for member and plan sponsor engagement, we are setting the new standard in PBM service excellence. RxAdvance has created an innovative PBM paradigm that offers Pharmacy cost savings Optimal utilization of drug benefits by leveraging the Intelligent DUR360 Gateway Operational efficiency leading to lower administrative fees Promote untapped generics Control FWA Transform specialty management from a Buy & Bill model to a Value-Based & Outcome-Driven model Drug-impacted medical cost reduction and improved quality of life for patients Medication adherence management (MAM) Coverage gap prediction and prescription planning (CGP3) Reduced adverse drug events Integrated MTM with physician-led CMR Unmatched system-driven regulatory compliance minimizing personnel involvement Care stakeholder collaboration enhances communication between prescribers, pharmacists, patients, and plan sponsors Complete operational visibility and transparency to plan sponsors Unprecedented user configurability

keywords:Finance,Healthcare,Insurance,Pharmaceuticals

$50M

Total Funding

228

Number of Employees

$53.9M

Revenue (est)

-6%

Employee Growth %

N/A

Valuation

N/A

Accelerator

RxAdvance Corp News

2019-09-08 - Costco Whsl New (COST) Holder Oakmont Partners Lowered ...

Tpg-Axon Management Lp increased its stake in Centene Corp Del ... IN HIS CURRENT ROLE AS CEO OF RXADVANCE (ADDS DROPPED ...

2019-09-03 - Primo Water (PRMW) Holder Next Century Growth Investors Has Decreased Its Holding by $1.03 Million; Somerset Trust Company Holding In Centene Del Com (CNC) Was Increased

Somerset Trust Company increased its stake in Centene Corp Del Com ... 15/03/2018 – Ex-Apple chief says Centene, RxAdvance partnership ...

2019-09-03 - Centene: RxAdvance PBM Rollout ‘Seamless’ So Far

Centene says the rollout of its new relationship with the pharmacy benefit manager RxAdvance is proceeding as planned as the health insurer ...

2017-10-18 - RxAdvance Honored by Goldman Sachs for Entrepreneurship

Ravi Ika, President/CEO Among 100 Most Intriguing Entrepreneurs at 2017 Builders + Innovators Summit SOUTHBOROUGH, Mass.–(BUSINESS WIRE)–October 18, 2017– Goldman Sachs (NYSE:GS) is recognizing RxAdvance President and CEO Ravi Ika as one of the 100 Most Intriguing Entrepreneurs of 2017 at its ...

2017-05-19 - RxAdvance Wins SMART Union Pharmacy Benefit Management (PBM) Contract to Reduce Overall Pharmacy Costs, Avoidable Drug-Impacted Medical Costs, and Optimize Specialty Drug Utilization

SOUTHBOROUGH, Mass.–(BUSINESS WIRE)–May 19, 2017– RxAdvance today announced that the International Association of Sheet Metal, Air, Rail and Transportation Workers (SMART), one of North America’s most dynamic and diverse unions with 216,000 members, has awarded its multi-year pharmacy benefit m ...

Company NameRevenueNumber of EmployeesEmployee GrowthTotal Funding
#1
$117M58218%N/A
#2
$370.7M1471N/AN/A
#3
$2943.9M1583617%$154M

RxAdvance Corp Funding

DateAmountRoundLead InvestorsReference
2014-03-04$UndisclosedA1WellMed Medical Management, IncArticle
2016-09-01$UndisclosedAUberArticle