myMatrixx
myMatrixx by Evernorth is a U.S. pharmacy benefit manager exclusively serving workers' compensation payers — state funds, carriers, self-insured employers, guarantee funds, and TPAs — providing PBM services, clinical management, prior authorization, opioid stewardship, and analytics across a 65,000+ pharmacy network.
- Company typePrivate
- Founded2001
- HeadquartersTampa, United States
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What myMatrixx does
myMatrixx (legal entity Matrix Healthcare Services, Inc., d/b/a 'MyMatrixx by Evernorth') is a pharmacy benefit manager (PBM) that operates exclusively in U.S. workers' compensation. Founded in 2001 and headquartered in Tampa, Florida, with additional offices in St. Louis and Phoenix, the company serves enterprise payers of workers' comp pharmacy benefits — state funds, insurance carriers, self-insured employers, guarantee funds, and third-party administrators — managing medication utilization, prior authorization, opioid stewardship, and cost control for injured workers. It has been a wholly-owned subsidiary of Evernorth Health Services (Cigna's health services arm) since approximately 2020 and was rebranded under the Evernorth masthead in March 2024. The firm has been ranked the #1 workers' compensation PBM by CompPharma for six consecutive years (2019–2024), scoring 4.29/5 (21% above the segment average of 3.28) and 4.8/5 on customer service, and holds URAC PBM and AICPA/SOC accreditations.
The company's core product portfolio combines clinical programs (Alert, Review and Manage® for prospective alerts; One Drug Review for topicals; CASE Rx® for safety evaluation), technology modules (evidence-based prior authorization decision support, E-prescribing via Surescripts), the MyDataSense℠ analytics platform with its CARE module, and the MyPassport™ client portal built from direct client feedback. Its pharmacy network spans 65,000+ locations including every major U.S. chain (CVS, Walgreens, Walmart, Costco, etc.), augmented by Express Scripts home delivery and Accredo specialty pharmacy. The firm deploys non-generative AI for real-time medication decision support, formulary optimization, and fraud/waste/abuse detection, and operates with a 100% in-house 24/7/365 customer service team staffed by 30+ clinicians and long-tenured specialists.
Revenue is generated transactionally on pharmacy benefit management services for workers' compensation claims, billed under annual enterprise contracts with custom quote-based pricing — pricing is not publicly disclosed. Go-to-market is direct enterprise field sales augmented by presence at industry conferences (Workers' Compensation Institute, National Workers' Compensation and Disability Conference), a continuing-education webinar series (MyCE), white papers, the PharmaWatch newsletter, and an active social and content footprint. The firm's #1 customer ranking over six years and a 91.3% network penetration rate provide recurring enterprise stickiness; primary risk vectors are regulatory shifts at the state level (e.g., formulary mandates, PBM legislation) and concentration in a single vertical.
myMatrixx firmographics
Firmographics- Name
- myMatrixx
- Legal name
- Matrix Healthcare Services, Inc.
- Website
- https://mymatrixx.com
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- myMatrixx by Evernorth is a U.S. pharmacy benefit manager exclusively serving workers' compensation payers — state funds, carriers, self-insured employers, guarantee funds, and TPAs — providing PBM services, clinical management, prior authorization, opioid stewardship, and analytics across a 65,000+ pharmacy network.
- Ownership category
- akta.pro rank
myMatrixx industry classification
Industry- Product category
- Workers' Compensation Pharmacy Benefit Management
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Accident & Health Insurance (6321)
- akta.pro primary industry
- Group Pharmacy Benefit (Rx) Coverage & PBM-Integrated Plans (FSAIAFAN)
Keywords
Where myMatrixx is headquartered
LocationHeadquarters
- HQ city
- Tampa
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
myMatrixx business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- PBM Services for Workers' Compensation: MyMatrixx provides pharmacy benefit management services specifically for workers' compensation cases, managing medication utilization, controlling costs, and ensuring patient safety for injured workers. Revenue is generated through management fees and transaction-based pricing with payers including state funds, carriers, self-insured employers, and TPAs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise PBM services with custom pricing |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels6 records
myMatrixx product offering
Product offeringCore offering
myMatrixx by Evernorth is a pharmacy benefit manager that delivers pharmacy benefits management, ancillary benefits management, and clinical management services exclusively for workers' compensation programs. It manages medication utilization, prior authorization, formulary compliance, and clinical safety for injured workers on behalf of state funds, insurance carriers, self-insured employers, guarantee funds, and third-party administrators (TPAs), supported by a 65,000+ pharmacy network and 24/7 in-house customer service.
Product overview
myMatrixx by Evernorth is a pharmacy benefit manager (PBM) with an exclusive focus on workers' compensation cases. The company offers a unified platform combining clinical expertise, customer service, and technology solutions. The core product portfolio includes clinical programs (ARM®, One Drug Review, CASE Rx®), technology solutions (Evidence-Based Prior Authorization Support, E-Prescribing), analytics platforms (MyDataSense℠ with CARE analytics), and the MyPassport™ client portal. All solutions are powered by advanced automation and AI capabilities for decision intelligence, fraud detection, and formulary optimization. The company provides 24/7 in-house customer service and maintains a network of 65,000+ pharmacies.
Differentiator
Problem solved
Functional benefit
Products and services
- Alert, Review and Manage (ARM)®
Quantifiable outcome
- Scored 4.29/5 (21% higher than average) in CompPharma 20th Annual Survey
- +4 more outcomes
Companies that use myMatrixx
Customer profileNamed customers5 records
Segments2 records
Ideal customer profiles1 record
myMatrixx technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability6 records
Feature7 records
myMatrixx partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- Kids' Chance of AmericacoreNon-profit partnership supporting children of catastrophically injured workers through scholarships. MyMatrixx President Mike Cirillo serves as chair of the fundraising committee and member of advisory board. Company provides financial contributions, video sponsorship for national conferences, and actively promotes KCOA through employees and clients. Kids' Chance has awarded 8,000+ scholarships totaling $27 million across 48 states.
- Give Kids the WorldminorCommunity partnership supporting the organization that provides free vacations for children with life-threatening illnesses and their families.
- National Multiple Sclerosis SocietyminorCommunity partnership supporting MS research and patient support programs.
- The American Heart AssociationminorCommunity partnership supporting heart disease research and education.
- Tampa Bay Boys & Girls ClubminorCommunity partnership supporting youth development programs in the Tampa Bay area.
- Hillsborough Education FoundationminorCommunity partnership supporting education initiatives in Hillsborough County.
- Feeding Tampa BayminorCommunity partnership supporting food security programs in the Tampa Bay region.
- Make a Wish FoundationminorCommunity partnership granting wishes to children with critical illnesses.
- Evernorth Health Services (Parent Company)coreMyMatrixx is a subsidiary of Evernorth Health Services, which is part of Cigna. This relationship provides access to the largest retail pharmacy network, deep technology and security investment, and unmatched expertise in workers' compensation clinical pharmacy while maintaining personalized service.
- ODG by MCGcorePartnership with ODG (Official Disability Guidelines) by MCG for evidence-based drug formulary management. ODG provides treatment guidelines and drug formularies that several states (Indiana, Montana, Texas) have adopted for workers' compensation systems. MyMatrixx maintains ODG-based formularies.
- Camelot Community CareminorCommunity partnership supporting behavioral health and community services.
- Habitat for HumanityminorCommunity partnership supporting affordable housing construction.
- SafePlaceminorCommunity partnership supporting domestic violence awareness and services.
Scale indicators9 records
Recent moves7 records
Expansion highlights5 records
myMatrixx competitors and assessment
Company assessmentBroad incumbents
- CVS Caremark: The PBM arm of CVS Health and a top-three U.S. PBM, offering scale-based rebate negotiation, retail pharmacy integration, and specialty drug management that sets the competitive benchmark myMatrixx differentiates against.
- Prime Therapeutics: Blue Cross Blue Shield-aligned PBM serving health plan clients at national scale. Comparable to myMatrixx on clinical and formulary management, with a comparable payer-channel GTM but a much broader, non-WC book of business.
- Express Scripts: Largest U.S. PBM by script volume and a sibling to myMatrixx inside Evernorth/Cigna. Provides mail-order and specialty capabilities (home delivery, Accredo) that myMatrixx leverages but operates in far broader commercial, Medicare, and Medicaid markets.
- Magellan Rx Management: PBM and specialty drug management business (now part of Centene) that competes in government, commercial, and specialty pharmacy with formulary and clinical management capabilities analogous to myMatrixx's clinical suite.
- OptumRx: UnitedHealth Group's general-market PBM. Sister entity to Optum Workers' Comp and Auto No Fault and the broadest incumbent PBM against which myMatrixx competes for adjacent specialty and chronic-disease drug categories.
Emerging players
- MedImpact Healthcare Systems: Independent, client-owned PBM with a transparent-pass-through model. Though not WC-focused, its audit-friendly, lower-spread positioning attracts payer clients evaluating alternatives to traditional PBMs like myMatrixx.
Direct peers
- Mitchell International: Workers' compensation and auto casualty technology and services provider covering claims, pharmacy, and clinical management. Overlaps with myMatrixx on WC pharmacy and bill review with the same payer customer base.
- Helios (workers' compensation PBM): Workers' compensation-focused clinical management and pharmacy services provider. Competes with myMatrixx for the same state funds, carriers, and TPAs using injury-specific clinical programs and formulary controls.
- Optum Workers' Comp and Auto No Fault: The PBM and clinical services arm of UnitedHealth Group focused on workers' compensation and auto/PIP claims — the most directly comparable competitor to myMatrixx, with overlapping buyer set (carriers, employers, TPAs) and overlapping clinical/formulary playbook.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
myMatrixx social profiles
Digital presencemyMatrixx compliance and trust
Trust signalCompliance2 records
myMatrixx financial estimates
Financial estimateRevenue estimate
Valuation estimate
myMatrixx leadership team
Management profileNumber of profiles
Profiles11 records
myMatrixx funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
myMatrixx M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about myMatrixx
What does myMatrixx do?
myMatrixx by Evernorth is a pharmacy benefit manager that delivers pharmacy benefits management, ancillary benefits management, and clinical management services exclusively for workers' compensation programs. It manages medication utilization, prior authorization, formulary compliance, and clinical safety for injured workers on behalf of state funds, insurance carriers, self-insured employers, guarantee funds, and third-party administrators (TPAs), supported by a 65,000+ pharmacy network and 24/7 in-house customer service.
Is myMatrixx a public or private company?
myMatrixx is a private company. It is classified as corporate owned and is currently operating.
When was myMatrixx founded?
myMatrixx was founded in 2001. It employs 251 to 500 people.
Where is myMatrixx based?
myMatrixx is headquartered in Tampa, United States, in the North America region.
How does myMatrixx make money?
One revenue line is on record: PBM Services for Workers' Compensation.
Who are myMatrixx's main competitors?
Broad incumbents on record are CVS Caremark, Prime Therapeutics, Express Scripts, Magellan Rx Management and OptumRx. MedImpact Healthcare Systems is listed as an emerging player. Direct peers are Mitchell International, Helios (workers' compensation PBM) and Optum Workers' Comp and Auto No Fault.
Does myMatrixx have an API?
No public API is recorded for myMatrixx.
What industry is myMatrixx in?
myMatrixx's product category is Workers' Compensation Pharmacy Benefit Management. Its primary akta.pro industry code is FSAIAFAN, Group Pharmacy Benefit (Rx) Coverage & PBM-Integrated Plans. Its NAICS code is 524292 and its SIC code is 6321.