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

Requirements

Candidates should possess a Juris Doctor degree and be admitted to practice law in at least one U.S. state, with experience from both law firm and in-house environments preferred. Applicants must be based in Arkansas, Arizona, California, Colorado, Florida, Georgia, Kansas, Minnesota, Missouri, Nevada, or North Carolina.

Responsibilities

The Commercial Counsel will draft, negotiate, and close commercial agreements to support SmithRx’s business growth, manage contractual obligations and company policies, conduct legal research, and ensure compliance with legal and regulatory requirements. They will serve as a key partner to the Sales, Revenue, and Deal Desk teams, contributing to efficient deal execution and continuous process improvements. The role will also involve collaborating with the Clinical Strategy team to develop innovative pathways for reducing drug costs and accurately reflecting these in commercial agreements, handling legal issues with a business-centric approach, and supporting the scaling of the legal function at a high-growth healthcare technology company.

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.

Key Metrics

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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