What RxPreferred Benefits does

RxPreferred Benefits is a privately-held, transparent pass-through pharmacy benefits administrator (PBA) founded in 2011 and headquartered in Mount Juliet, Tennessee. The company administers pharmacy benefit plans on a 100% pass-through basis with no spread pricing, no pharmacy ownership, and a zero-conflict-of-interest clause embedded in its corporate bylaws. Its core offerings include PBM services, 340B program administration, rebate administration, and specialized PBM modules for hospice, workers' compensation, and long-term care facilities. The platform is built around the proprietary RxP-AI analytics engine, which delivers real-time claim-level data, predictive modeling, drug spend analytics, and executive dashboards, and is augmented by the Rx-Performance ML-driven copay optimization program and an enhanced member portal.

RxPreferred serves self-funded employers, hospitals and health systems, health plans, brokers and consultants, and third-party administrators on a national basis, with 67,000+ pharmacies in its network and strategic alliances including a partnership with Mark Cuban Cost Plus Drug Company and its Affiliate Pharmacy Network. The company monetizes primarily through flat per-claim administrative fees, subscription-style specialty programs such as My-RxP for GLP-1 and specialty medication management, and fee-based 340B and rebate administration services. Distribution is sales-led with inside and enterprise field sales motion, supplemented by broker/consultant and TPA channels and event-driven demand generation at industry conferences (AHA Leadership Summit, HCAA TPA Summit, NASP, LIMRA, etc.).

The company is independently owned by independent pharmacy representatives, has not raised disclosed external funding, and has scaled to 51-100 employees while posting 436% revenue growth from 2021 to 2024 (2025 Inc. 5000 honoree), with a stated 98.8% client retention rate. Leadership includes founder and CEO Jeff Malone, Chief Growth Officer Greg Abram (appointed August 2025), CIO Keith Riecke, and Chief Legal and Compliance Officer Phillip Dodd.

Name

RxPreferred Benefits

Legal name

RxPreferred Benefits

Website

https://rxpreferred.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

51–100 employees

Short description

RxPreferred Benefits is a privately-held, transparent pass-through pharmacy benefits administrator serving self-funded employers, hospitals, health systems, and health plans nationwide via 100% pass-through pricing, the proprietary RxP-AI analytics platform, and a 67,000+ pharmacy network.

Ownership category

akta.pro rank

Product category

Pharmacy Benefits Management

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Hospital & Medical Service Plans (6324)

akta.pro primary industry

Pharmacy Benefit Analytics, Reporting & Employer Consulting (HLAEAKAK)

akta.pro secondary industries

PBM Technology Platforms (ePA/eRx/Real-Time Benefit Tools) (HLAEAKAL), 340B Program Administration & Support (HLAEAKAJ)

Keywords

• Pharmacy benefit management
• 340B administration
• Rebate administration
• Transparent PBM services
• Specialty medication management

Headquarters

HQ city

Mount Juliet

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. PBM Administration Fees: Flat per-claim fee structure for all PBM services. The company explicitly does not use spread pricing, with 100% pass-through administration of network discounts and rebates.
2. 340B Administration Services: Fee-based 340B program administration services for covered entities including hospitals, health systems, clinics, and pharmacies. Services include registration, contracting, virtual inventory management, reporting, and compliance oversight.
3. Pharmaceutical Rebate Administration: Transparent rebate administration services that help clients capture unrealized pharmaceutical rebates. Passes 100% of rebate savings to clients while charging administrative fees.
4. My-RxP Workplace Wellness: Workplace medication cost management solution delivering savings on high-cost brand, specialty, GLP-1, and fertility medications for employers.
5. Pharmacy Savings Card: Prescription savings card offering discounts up to 80% on prescriptions. No enrollment forms, membership fees, or expiration. Accepted at pharmacies nationwide.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels11 records

Core offering

RxPreferred Benefits is a transparent, pass-through pharmacy benefits administrator (PBA) providing customized PBM services, 340B program administration, rebate administration, and specialty pharmacy benefit solutions to self-funded employers, health plans, hospitals, and health systems. The company operates on a zero-conflict-of-interest model codified in its bylaws, eliminating spread pricing and vertical integration while delivering 100% pass-through of network discounts and rebates. Its offerings are powered by the proprietary AI-driven RxP-AI analytics platform and supported by a 67,000+ pharmacy network nationwide.

Product overview

RxPreferred Benefits is a pharmacy benefits administrator (PBA) and healthcare technology company offering a unified platform for pharmacy benefit administration, 340B program optimization, and medication cost management. The core offering centers on transparent, pass-through PBM Services powered by the proprietary RxP-AI analytics platform. The portfolio includes 340B Administration, Rebate Administration, and specialty services for Hospice/Workers Comp/LTC. Add-on modules include My-RxP for workplace wellness and specialty medication cost management, Rx-Performance for AI-driven copay optimization, the RxPreferred Prescription Savings Card, and an Enhanced Member Portal. All offerings are built on a foundation of 100% pass-through pricing with zero conflict-of-interest, delivering real-time data access and customizable solutions for plan sponsors.

Differentiator

Problem solved

Functional benefit

Brands

• RxP-AI: AI-powered pharmacy benefits analytics platform providing real-time insights, predictive modeling, drug spend analytics, and customized alerts for plan optimization.
• My-RxP
• Rx-Performance

Products and services

• PBM Services Transparent, customized pharmacy benefits management for Health Plans, Hospitals & Health Systems, Self-Funded Employers, Brokers, Consultants, and Third Party Administrators, featuring 100% transparency, real-time data, zero conflict-of-interest pricing, customized plan designs, cost-containment strategies, and complete plan sponsor control.
• RxP-AI AI-powered analytics platform that enhances pharmacy benefit efficiency through data-driven insights, pass-through administration, and optimized plan design. Provides actionable insights, executive dashboards, drug spend analytics, predictive modeling, KPIs & performance metrics, and customized alerts for plan sponsors.
• 340B Administration

Quantifiable outcome

• 436% revenue growth from 2021 to 2024
• +7 more outcomes

Named customers2 records

Segments12 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature7 records

Partnerships

Four partnerships are on record, tiered core.

• Mark Cuban Cost Plus Drugs Affiliate Pharmacy NetworkcoreStrategic or Co-development Partner · 14 April 2026Collaboration with the Mark Cuban Cost Plus Drugs Affiliate Pharmacy Network as part of RxPreferred's commitment to lowering costs, expanding access, and supporting independent pharmacies through solutions like My-RxP.
• Mark Cuban Cost Plus Drug CompanycoreStrategic or Co-development Partner · 6 July 2023Following the initial partnership, RxPreferred announced availability of YUSIMRY (Humira biosimilar) at $569.27 plus fees, representing a 92% discount from the $6,922.62 Humira list price. The collaboration prioritizes patients and addresses misaligned incentives in healthcare.
• Mark Cuban Cost Plus Drug CompanycoreStrategic or Co-development Partner · 11 January 2023Strategic partnership announced January 11, 2023, focused on improving healthcare access and lowering drug spend. RxPreferred's plans and members gain access to all medications available through Cost Plus Drugs within their benefits package. The partnership aims to bring transparency to healthcare and reduce prescription drug costs for individuals and employers nationwide.
• Transparency-RxcoreStrategic or Co-development PartnerRxPreferred is a founding member of Transparency-Rx, an organization of pass-through pharmacy benefits administrators advocating for transparency and steering away from traditional PBM practices. The organization works to instill a more transparent ecosystem in pharmacy benefits.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Elixir Pharmacy Solutions: Elixir offers PBM and pharmacy services to health plans and self-funded employers with transparent pricing. Comparable in serving employer-sponsored plans and offering custom clinical programs.
• SmithRx: SmithRx is a transparent PBM serving self-funded employers with pass-through pricing and technology-driven administration. Comparable to RxPreferred in target customer (mid-market and self-funded employers) and value proposition (transparent flat-fee model).
• Capital Rx: Capital Rx is a transparent, pass-through PBM that built its own technology platform (Judi) to administer pharmacy benefits. Like RxPreferred, it differentiates on transparency and technology and serves self-funded employers, health plans, and TPAs.
• VIVIO Health: VIVIO Health is a transparent PBM focused on self-funded employers with outcomes-based contracts and pass-through pricing. Closely aligned with RxPreferred's pass-through philosophy and target buyer.
• BeneCard PBF: BeneCard PBF is a pass-through PBM that emphasizes transparency, clinical programs, and customization for self-funded plans. Operates with a similar flat-fee, no-spread-pricing model as RxPreferred.
• Navitus Health Solutions: Navitus is a pass-through PBM that serves health plans, employers, and government programs with full transparency and no spread pricing. RxPreferred's new Chief Growth Officer Greg Abram previously worked at Navitus, underscoring operational comparability.
• ClearScript: ClearScript is a transparent PBM that emphasizes pass-through pricing and clinical management for self-funded employer plans. Direct competitor in the transparent PBM segment.
• PBM Plus: PBM Plus is a transparent, pass-through pharmacy benefit manager serving employer groups, health plans, and government entities. Shares RxPreferred's transparent pricing model and employer-focused GTM.

Broad incumbents

• CVS Caremark: CVS Caremark is a vertically integrated PBM within CVS Health, providing pharmacy benefits to large employer and health plan clients. RxPreferred has publicly cited displacing CVS/Caremark (e.g., Decatur County, Georgia) as part of its growth narrative.
• OptumRx: OptumRx is the largest PBM in the U.S. and a division of UnitedHealth Group, offering pharmacy benefits alongside medical and care services. As an incumbent it competes broadly with RxPreferred across employer and health plan segments; RxPreferred's new CGO previously led at OptumRx.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/RxPreferred
• YouTubeyoutube.com/channel/UCqv-qFrHsfIMibib4VZBD8w
• LinkedInlinkedin.com/company/rxpreferred-benefits?trk=extra_biz_viewers_viewed
• Instagraminstagram.com/rxpreferred
• Facebookfacebook.com/rxpreferred

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RxPreferred Benefits