Pharmacy benefits manager EmpiRx Health named 20-year industry veteran Danny Sanchez as president, the Montvale company announced Feb. 27.
Sanchez, who said his decision to join the company was “an easy one,” spent most of his career in leadership positions at Omnicell Corp. and its EnlivenHealth business, which builds digital technology solutions for retail pharmacies and health plans.
In the same announcement, EmpiRx said it recently achieved a company milestone: “In less than nine years, we’ve saved our clients more than $1 billion—unequivocal proof that an approach that prioritizes both financial and health outcomes is the gold standard of pharmacy care,” said CEO Karthik Ganesh, who previously served as president, a company representative told NJBIZ.
When the company announced its new chief growth officer, Ziad Rubaie, in December 2022, Ganesh said that the company was “on track to outperform projected client savings guarantees for the seventh year in a row.”
Founded in 2014, EmpirRx says it is the only value-based pharmacy benefits manager and employs a pay-for-performance financial model. On average, new clients see a 15% reduction in per member per month costs, according to the company.
“EmpiRx Health maintains a Clinical Savings Tracker for each client, which provides a 100% auditable inventory of every dollar saved,” a company representative explained to NJBIZ. “The report validates the efficacy of the therapeutic switches, the value of each conversion, and is fully auditable on a member- and claims-level basis,” and the $1 billion in clinical savings generated was calculated based on unreconciled and reconciled numbers.
“As we continue to grow, we remain obsessively committed to our core values. As a health care organization, it’s imperative that we cultivate diversity within our organization because it better equips us to personalize care and service,” Ganesh added. “Danny is an exceptional leader whose career-spanning commitment to improving health outcomes aligns perfectly with our business model and culture, and his background reflects our organizational values.”
Sanchez added, “This is an exciting opportunity to improve the health of populations and patients nationwide by driving innovation in the benefits space. EmpiRx Health has built a business model unlike any other in the industry, and it’s thriving organically on the strength of that model.”