Episode: 160 - A. J. Loiacono on Capital Rx’s Mission to Remodel the American Drug Pricing System as a Tech-Based Pharmacy Benefit Manager
02/21/23 • 38 min
AJ Loiacono’s experience in supply chain consulting for pharmaceutical manufacturing afforded him a world-class education in supply chain logistics, drug pricing, and software implementation. However, it wasn’t until he worked with healthcare payers that he realized the glaring problems in the U.S. drug pricing system and that pharmacy benefit managers retained much of the control and profit. He says, “The reason why our drug pricing is the way it is today... is because no one has either had the resource, bravery, or perseverance to stand up and say, ‘This is what’s wrong, and we’re going to fix it instead of profiting off of the system.’”
Looking to disrupt the status quo, Loiacono founded Capital Rx. As one of the fastest growing healthtech companies in America, Capital Rx reconstructs prescription pricing and puts savings back in the patient’s hands. Loiacono speaks with host Steve Krupa about his desire to simplify drug pricing and increase transparency, how Capital Rx’s novel cloud-native enterprise pharmacy platform, JUDI, reduces labor costs by up to 80%, how they maintain a 99.5% retention rate with their clients, and why their books have demonstrated a negative drug trend for the past three years.
Links from this episode:
HealthEdge
Capital Rx
JUDI Enterprise Pharmacy Platform
Capital Rx Facebook
AJ Loiacono’s experience in supply chain consulting for pharmaceutical manufacturing afforded him a world-class education in supply chain logistics, drug pricing, and software implementation. However, it wasn’t until he worked with healthcare payers that he realized the glaring problems in the U.S. drug pricing system and that pharmacy benefit managers retained much of the control and profit. He says, “The reason why our drug pricing is the way it is today... is because no one has either had the resource, bravery, or perseverance to stand up and say, ‘This is what’s wrong, and we’re going to fix it instead of profiting off of the system.’”
Looking to disrupt the status quo, Loiacono founded Capital Rx. As one of the fastest growing healthtech companies in America, Capital Rx reconstructs prescription pricing and puts savings back in the patient’s hands. Loiacono speaks with host Steve Krupa about his desire to simplify drug pricing and increase transparency, how Capital Rx’s novel cloud-native enterprise pharmacy platform, JUDI, reduces labor costs by up to 80%, how they maintain a 99.5% retention rate with their clients, and why their books have demonstrated a negative drug trend for the past three years.
Links from this episode:
HealthEdge
Capital Rx
JUDI Enterprise Pharmacy Platform
Capital Rx Facebook
Previous Episode
Episode: 159 - Dr. Jennifer Schneider on Homeward Health’s Mission to Bring Affordable and Accessible
Dr. Schneider’s interest in medicine began when she was diagnosed with type 1 diabetes as a preteen living in a small rural Minnesota town. After becoming a physician, her journey to CEO started with a return to her roots and a desire to help decrease the exorbitantly high mortality rates observed in rural communities across the nation.
In this episode, host Steve Krupa speaks with Dr. Jenny Schneider, CEO of Homeward Health, about the company’s recent launch, how it leverages technology to scale healthcare for underserved patients, and the mobile clinic that builds trust with rural communities and increases access to care. Schneider says, “The good and bad news about healthcare is that it’s so highly inefficient that there’s a lot that can be improved... Our ability to engage and allow people to interact with the healthcare system allows them to improve their health and ultimately costs less money.”
Links from this episode:
HealthEdge
Homeward Health
Next Episode
Episode: 161 - Tomorrow Health CEO Vijay Kedar on the Coordination and Delivery of High-Quality and High-Efficiency Home Healthcare in Today’s Medical Landscape
Vijay Kedar, co-founder and CEO of Tomorrow Health, was raised in a family of physicians, often joking that he was “pre-med coming out of the womb.” However, it wasn’t until he took on managing his mother's care through stage III colorectal cancer and acute respiratory distress syndrome that the idea for Tomorrow Health was born. In this episode, Kedar speaks with host Steve Krupa about using technology to coordinate high-quality home-based care for patients and families who find securing such care increasingly difficult to navigate.
Kedar also discusses how home-based care improves health outcomes, alleviates the administrative and healthcare burden for providers, and is often the most economical option for patients requiring long-term treatment. He says, “Treating a patient with the same conditions at home can be one-tenth the cost of doing so in a hospital-based setting and one-third the cost of doing so in a post-acute setting like a skilled nursing facility.” Kedar goes on to outline how Tomorrow Health’s launch during the pandemic essentially changed how home-based care was ordered, delivered, and purchased to meet an ever-growing demand.
Links from this episode:
HealthEdge
Tomorrow Health
Vijay Kedar’s direct email
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