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RxAdvance Corporation


RxAdvance Corporation Stock

RxAdvance, now part of nirvanaHealth, is a pioneering force in the pharmacy benefit manager (PBM) sector. The company leverages advanced cloud-based solutions to integrate medical, pharmacy, and behavioral services, thereby optimizing healthcare delivery and reducing costs through efficient administrative and medical management.

RxAdvance Corporation Company Overview

Founded in 2013, RxAdvance has significantly impacted the PBM industry by integrating advanced technological solutions into healthcare management. As a full-service PBM, RxAdvance utilizes a cloud-native platform to deliver comprehensive healthcare services, which include medical, pharmacy, and behavioral health management. This integration helps in reducing administrative costs and improving the quality of care. The company's technology harnesses Robotic Process Automation (RPA) and other advanced technologies such as Machine Learning (ML) and Artificial Intelligence (AI) to streamline operations across healthcare systems. Their platform, Aria, developed by nirvanaHealth, plays a pivotal role in this by automating over 3,500 functions typically handled by payers and PBMs, creating significant efficiencies and cost reductions. RxAdvance's merger into nirvanaHealth marks a strategic move to expand their reach and capabilities in the healthcare automation space. Under the leadership of significant figures like Ravi Ika and John Sculley, the company is positioned at the forefront of healthcare innovation, aiming to deliver high-quality care at reduced costs by leveraging its unique technological advantages and extensive industry experience​.

Management Team

Ravi Ika President & CEO
John Jacobsen Chief Financial Officer
Aruna Wickremeratne Chief Administrative Officer & Head of Business Development
Prakash Tallabattula Chief Technology Officer
Mark W. Owen Chief Transformation Officer
Bijendra (BP) Malik Chief Security Officer and EVP Infrastructure
Heather Johnson Chief Compliance Officer
Dr. Robert London Chief Medical Officer
Basem Shebli Chief Pharmacy Officer

Funding Information