Capital Rx Earns Full URAC Reaccreditation in Pharmacy Benefit Management
- URAC accreditation reflects Capital Rx’s commitment to achieving and maintaining the highest quality, member engagement and experience, and operational standards for PBMs in the industry
NEW YORK, Oct. 28, 2024 /PRNewswire/ — Capital Rx, the full-service pharmacy benefit manager (PBM) and pharmacy benefit administrator (PBA) advancing our nation’s electronic healthcare infrastructure, has received full URAC reaccreditation for Pharmacy Benefit Management. This announcement follows on the heels of JUDI®, Capital Rx’s proprietary enterprise health platform, achieving HITRUST i1 Certification for data protection and cybersecurity and the company receiving National Committee for Quality Assurance (NCQA) Accreditation in Utilization Management.
“The URAC Pharmacy Benefit Management accreditation touches every department across the organization and is a testament to the quality of care we provide to our patients and the support we provide our plan sponsors, levering both JUDI and our robust operational and performance management infrastructure,” said Sara Izadi, PharmD, Chief Clinical Officer at Capital Rx. “I am so proud of our entire organization for demonstrating our commitment to upholding the highest standards in the industry and improving patient outcomes by maintaining our accreditation.”
As an aligned, objective administrative partner, Capital Rx does not profit from the distribution of medication to plan members, spread pricing, clawbacks from retail pharmacies, or other traditional PBM tactics that are under intense regulatory scrutiny. Rather, launching an unbundled pharmacy benefit solution that includes core claim adjudication and contact center services, Never Move Again™, demonstrates an understanding of the pressure employer plan sponsors face to establish processes to evaluate plan costs and meet their fiduciary obligations.
In addition to earning accreditations or certifications from URAC, NCQA, and HITRUST, Capital Rx has voluntarily earned B Corp™ Certification, follows the NIST SP 800-53 cybersecurity standard, and AICPA SOC 1 Type 2 and SOC 2 Type 2 Reports are available. At a time when satisfaction with traditional PBMs is at the lowest level in a decade,1 Capital Rx will continue to raise the bar for transparency in the PBM industry and rebuild trust in healthcare.
“The URAC accreditation seal shows an organization’s commitment to meeting the highest quality standards in health care in the areas of risk management, consumer protection and empowerment, operations and infrastructure, patient service and communication, as well as performance management and improvement. We are proud to recognize Capital Rx for their achievement in these areas,” said URAC President and CEO Shawn Griffin, MD.
To learn more about URAC”s stringent standards and evaluation process for PBMs, please visit https://www.urac.org/accreditation-cert/pharmacy-benefit-management-accreditation/.
To learn more about Capital Rx’s suite of administrative solutions, please visit http://www.capitalrx.com/.
About URAC
Founded in 1990 as a non-profit organization, URAC is the independent leader in promoting health care quality and patient safety through renowned accreditation programs. URAC develops its evidence-based standards in collaboration with a wide array of stakeholders and industry experts. The company’s portfolio of accreditation and certification programs span the health care industry, addressing health care management and operations, pharmacies, telehealth, health plans, medical practices and more. URAC accreditation is a symbol of excellence for organizations to showcase their validated commitment to quality and accountability.
About Capital Rx
Capital Rx is a full-service pharmacy benefit manager (PBM) and pharmacy benefit administrator (PBA), advancing our nation’s electronic healthcare infrastructure to improve drug price visibility and patient outcomes. As a Certified B Corp™, Capital Rx is executing its mission through the deployment of JUDI®, the company’s cloud-native enterprise health platform, and a Single-Ledger Model™, which increases visibility and reduces variability in drug prices. JUDI connects every aspect of the pharmacy ecosystem in one efficient, scalable platform, servicing millions of members for Medicare, Medicaid, and commercial plans. Together with its clients, Capital Rx is reimagining the administration of pharmacy benefits and rebuilding trust in healthcare. To learn more, visit www.capitalrx.com.
Media Contacts
Michael Passanante, SVP, Marketing & Communications
Justin Venneri, Director, Communications
marketing@cap-rx.com
References
1 Pharmaceutical Strategies Group. 2024 Pharmacy Benefit Manager Customer Satisfaction Report. Dallas, TX: PSG. Available from www.psgconsults.com/research
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SOURCE Capital Rx
