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Capital Rx Names Pharmacy Benefits Veteran Philip Vecchiolli as SVP and General Manager of Pharmacy Benefit Administration ServicesPhil brings two decades of healthcare and PBM leadership and business strategy experience to pave the way for customer expansion at the fastest-growing PBM in the country NEW YORK, April 27, 2022 /PRNewswire/ -- Capital Rx, a healthtech company changing the way prescription drugs are priced and patients are serviced, today announced that Philip Vecchiolli has joined as Senior Vice President and General Manager of Pharmacy Benefit Administration (PBA) Services. Vecchiolli brings over 20 years of strategic business development and sales leadership in the pharmacy benefit manager (PBM), managed care, behavioral health, and insurance industries. He is entrusted to lead the expansion of Capital Rx's PBA business providing the first modern claims processing infrastructure to health plans and PBMs in twenty years.
Capital Rx has experienced exponential growth since its inception in 2017 and is now considered the fastest-growing PBM in the country with 1 million lives contracted. Hundreds of customers, including employers, unions, municipalities, and healthcare systems, select Capital Rx for its fair and transparent pricing model combined with its agile, cloud-based technology. It is the only PBM that uses the NADAC model in the commercial space, and its technology framework is a radical departure from the status quo. JUDI™ is an intuitive, agile, API-based enterprise pharmacy platform (EPP) that reduces administrative overhead and breaks industry standards by enabling real-time communication among physicians, pharmacies, patients, and plans and allowing better access to medications at the lowest cost possible. These innovations have led to a 98% client satisfaction rate and 99.5% client retention. "Every other day, there's another news story about out-of-control prescription drug prices and how Americans cannot afford their life-saving medicines," said Vecchiolli, "Capital Rx is righting this egregious wrong in our healthcare system by delivering stable and honest drug prices to hard-working Americans, in a way that is frictionless for the employers and health plans that adopt their model. I'm honored to be a part of the Capital Rx team to repair part of the broken U.S. healthcare system." Philip Vecchiolli will be responsible for oversight and expansion of JUDI™ to best service the PBA commercial, Medicaid, and Medicare markets. Before joining Capital Rx, he served as Chief Growth & Strategy Officer and Marketing at a digital behavioral health company, Tridiuum. At Tridiuum, Vecchiolli was critical in helping the company to achieve a 30% year-over-year growth, tripling its payer footprint and onboarding eight strategic provider accounts in less than ten months. Prior to Tridiuum, Vecchiolli was the Chief Growth Officer of Behavioral Health at Optum where he led explosive growth in the division and was awarded Optum's Star Award for Sales Leadership. Vecchiolli also had senior sales roles at Magellan Rx, Aetna Pharmacy Management, Convey Health, and NovoLogix. "Phil has a stellar track record in growing and nurturing customers in the healthcare and the PBM marketplace," said Kristin Begley, PharmD, Chief Growth Officer of Capital Rx. "We're elated that he has joined the Capital Rx team to help us bring alignment and service to the entire healthcare ecosystem." About Capital Rx Media Contact:
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