Former Cerner Executive Mike Nill Joins Rx Savings Solutions as Strategic Advisor
OVERLAND PARK, Kan., July 21, 2021 /PRNewswire/ -- Rx Savings Solutions, the market-leading tool for pharmacy transparency, today announced that Mike Nill, former Chief Operating Officer at Cerner, has joined the company as a Strategic Advisor. Nill will help support Rx Savings Solutions' rapid growth by working with the executive team to provide strategic counsel, improve business processes, and strategically expand the company's reach in the healthcare technology space nationwide.
Nill joins at a time of exponential growth for the Overland Park-based company. With a five-year compounded annual growth rate (CAGR) of over 65%, Rx Savings Solutions currently serves 9 million members – and is expected to nearly double that to serve 17 million by year's end. In May 2021, over $1B of pharmacy claims were run through the Rx Savings Solutions proactive, patented software.
Declaring a notable 99% revenue retention rate in 2020, nearly all of Rx Savings Solutions' clients who were up for renewal this year chose to extend their contracts. The company also recently announced plans to hire an additional 100 employees by years end as they continue to scale for further growth.
Nill, a proven business leader with a unique and valuable blend of deep technical experience and business acumen, most previously served as COO of Cerner where he was a key member of the leadership team and worked for nearly 25 years. He is repeatedly looked to help organizations effectively formulate strategy, marshal the right resources, and put the structural, operational, and strategic elements in place to spur growth, deliver quality results, and achieve the objectives of internal stakeholders and customers.
"We are delighted to have Mike join Rx Savings Solutions as our strategic advisor," said Michael Rea, a clinical pharmacist who is founder and CEO of Rx Savings Solutions. "As we look to expand into the future, it is critical that our company receives timely insights and guidance from industry experts like Mike – who not only has incredible depth of knowledge and expertise in healthcare, technology, and the industry at large, but also has a deep understanding of the market in which we operate to help position us for continued growth."
"I'm really excited to be joining one of the fastest growing companies in Kansas City," said Nill. "Rx Savings Solutions is completely redefining the way businesses and consumers pay for prescription drugs, and I can't wait to help contribute to the company's impressive growth trajectory."
About Rx Savings Solutions
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SOURCE Rx Savings Solutions