jordan feldman rightway
ID: #213957
Listed In : Accounting Accreditation Accounting Services
Business Description
Jordan Feldman didn’t dream of starting a pharmacy benefit manager when he was a kid. But growing up around healthcare and with a background in finance, he grew to realize the system needed to work better.Feldman and his father, a cardiologist, banded together to found Rightway in 2017 as a healthcare navigation and patient advocacy company. They then expanded offerings with an eye toward disrupting the PBM market. “The whole focus of what we do is: How do we distill this back to first principles? How do we make sure that getting a doctor, a high-quality surgeon, or accessing a prescription drug is done in the best, most efficient ways?” Feldman said.Rightway markets itself as a transparent, pass-through PBM for employers looking for an alternative to the “Big Three” PBMs, which hold nearly 60% of the pharmacy benefits market based on their control over rebate negotiations, retail network management and claims adjudication, according to the American Medical Association.Competing in a deeply entrenched market doesn’t worry Feldman, he said. Rightway is lowering pharmacy costs for its clients by 15% and saving members more than 10% in out-of-pocket costs, according to the company.It is also recording exponential growth in new clients and has captured business from self-insured employers, including Tyson Foods and Instacart, many of which are switching from the largest PBMs, he said.Feldman said Rightway is continuing its aim of being like a doctor in the family for each of its members, as he has experienced with his father.— Lauren Berryman