SmithRx

Commercial Counsel

Remote

Not SpecifiedCompensation
Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level
InternshipJob Type
UnknownVisa
Legal Services, Healthcare TechnologyIndustries

Position Overview

  • Location Type: Remote
  • Employment Type: Full-time
  • Salary: Not specified

SmithRx is a rapidly growing, venture-backed Health-Tech company. Our mission is to disrupt the expensive and inefficient Pharmacy Benefit Management (PBM) sector by building a next-generation drug acquisition platform driven by cutting edge technology, innovative cost saving tools, and best-in-class customer service. With hundreds of thousands of members onboarded since 2016, SmithRx has a solution that is resonating with clients all across the country.

We pride ourselves for our mission-driven and collaborative culture that inspires our employees to do their best work. We believe that the U.S healthcare system is in need of transformation, and we come to work each day dedicated to making that change a reality. At our core, we are guided by our company values:

  • Integrity: Our purpose guides our actions and gives us confidence in the path ahead. With unwavering honesty and dependability, we embrace the pressure of challenging the old and exemplify ethical leadership to create the new.
  • Courage: We face continuous challenges with grit and resilience. We embrace the discomfort of the unknown by balancing autonomy with empathy, and ownership with vulnerability. We boldly challenge the status quo to keep moving forward—always.
  • Together: The success of SmithRx reflects the strength of our partnerships and the commitment of our team. Our shared values bind us together and make us one. When one falls, we all fall; when one rises, we all rise.

Job Summary

We are looking for a Commercial Counsel who will be responsible for drafting, negotiating, and closing commercial agreements to help drive our business forward in innovative ways to change the PBM market while managing risk. This role will also encompass contract management, legal research, and ensuring compliance with contractual obligations and company policies.

You will be a key partner to our Sales team, Revenue team, and Deal Desk function, ensuring all deals are executed with speed, ease, and accuracy. You will also be instrumental in creating continuous improvements and efficiencies within our contracting processes. Collaborating with our Clinical Strategy team, you will help develop innovative pathways to reduce drug costs for payers and patients and ensure these are accurately reflected in our commercial agreements.

You will be expected to handle legal issues with a creative and business-centric approach. The successful candidate will evidence a passion for impacting the U.S. healthcare ecosystem and be excited for the challenge of helping scale the legal function at a high-growth healthcare technology company. Top candidates will possess a valuable blend of experience from both law firm and in-house environments.

Requirements

  • Not specified

Responsibilities

  • Drafting, negotiating, and closing commercial agreements.
  • Contract management.
  • Legal research.
  • Ensuring compliance with contractual obligations and company policies.
  • Partnering with Sales, Revenue, and Deal Desk teams.
  • Creating continuous improvements and efficiencies in contracting processes.
  • Collaborating with the Clinical Strategy team.

Application Instructions

  • Not specified

Company Information

  • Company: SmithRx
  • Industry: Health-Tech
  • Mission: To disrupt the PBM sector with a next-generation drug acquisition platform.
  • Location Eligibility: Arkansas, Arizona, California, Colorado, Florida, Georgia, Kansas, Minnesota, Missouri, Nevada, North Carolina

Skills

Contract Negotiation
Legal Research
Regulatory Compliance
Commercial Agreements
Drafting
Legal Issue Resolution
Business-Centric Approach

SmithRx

Pharmacy benefit management with transparent pricing

About SmithRx

SmithRx operates as a Pharmacy Benefit Manager (PBM) that focuses on managing prescription drug plans for self-insured employers and plan sponsors. The company uses a transparent pricing model called "Pass Through Pricing," where it charges only an administrative fee and passes all rebates from prescriptions directly to clients and their members. This model contrasts with traditional PBMs that often inflate drug prices and retain rebates for profit. SmithRx's clients benefit from a technology platform that utilizes real-time data to improve service delivery, ensuring efficient and high-quality pharmacy benefit management. The company also provides a concierge service to enhance support for both members and clients. SmithRx aims to simplify pharmacy benefits while maximizing value for its clients through transparency, advanced technology, and exceptional customer service.

San Francisco, CaliforniaHeadquarters
2016Year Founded
$94.8MTotal Funding
SERIES_CCompany Stage
HealthcareIndustries
201-500Employees

Benefits

Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Health Savings Account/Flexible Spending Account
Unlimited Paid Time Off
Paid Holidays
Wellness Program
Commuter Benefits
Parental Leave
Mental Health Support
Professional Development Budget

Risks

Increased competition from technology-driven PBMs like Capital Rx could erode market share.
Rapid technological advancements may require costly updates to SmithRx's platform.
Potential regulatory scrutiny on PBM pricing models could impact SmithRx's business model.

Differentiation

SmithRx uses a transparent 'Pass Through Pricing' model, unlike traditional PBMs.
The company leverages real-time data for efficient pharmacy benefit management services.
SmithRx offers concierge-level service, enhancing customer satisfaction and support.

Upsides

SmithRx secured $60M in Series C funding, indicating strong investor confidence.
Partnership with Banjo Health enhances prior authorization processes using AI technology.
Collaboration with TheracosBio offers cost-effective drug options for Type 2 Diabetes.

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