SmithRx Milestones and Momentum 2024: See how we're making a real difference in pharmacy benefits – for employers, members, and their families.

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Our Story

SmithRx is Transforming Pharmacy Benefits

We are constantly expanding our partnerships with independent pharmacies to improve access to affordable medications. By joining forces, we strengthen our collective ability to deliver exceptional, affordable care to every community. Our network includes more than 85,000 pharmacies across the country.

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Our mission at SmithRx is to secure the lowest cost prescription drugs, upholding transparency and integrity while prioritizing the best interests of both employers and patients.

To learn about SmithRx is to learn about the healthcare journey of our founder, Jake Frenz– one that is all too relatable by many Americans. At 22, Jake stepped into a caregiving role during his father's battle with cancer. Soon after, he faced his own cancer diagnosis that threatened the amputation of his leg. Many years later, he once again faced the complexities of managing specialty medications for his mother during her own long-term illness. 

Jake’s personal experiences underscored some of the profound failings of the U.S. healthcare system, resulting in a deep personal connection to the struggles many face accessing necessary treatment.

These systemic inefficiencies drove Jake to establish SmithRx, aiming to instill transparency and fairness in pharmacy benefits management—an area often marked by opacity and injustice. His initiative—now our collective mission—seeks to reform an essential segment of healthcare, promoting a significant shift towards equity, efficiency, and genuine human compassion.

Our Values

At SmithRx, our guiding principles—Courage, Integrity, and Together—serve as our north star, shaping our culture, grounding our decisions, and fostering our partnerships.

Courage

We face continuous challenges with grit and resilience. We embrace discomfort of the unknown by balancing autonomy with empathy, and ownership with vulnerability. We boldly challenge the status quo to keep moving forward, always.

Integrity

Our purpose guides our actions and provides us with confidence in our path forward. Our honesty and dependability unwavering, SmithRx embraces the heated pressure of challenging the old, and exemplifies ethical leadership to create the new.

Together

The success of SmithRx is a reflection of the strength of our partnerships, and the commitment of our team. Our values glue us together and create one from many. When one falls, we all fall; when one rises, we all rise.

Our Partners

Brokers and Integrations

We work with over 500 brokers and third party administrators.

Recent News

SmithRx in the News

SmithRx Continues to Fix Broken Pharmacy Benefits Management System, Closes $60M in Series C Funding Led by Venrock

Read about our most recent funding round and how we’re leveraging it to continue evolving the PBM system for the better.

SmithRx and Mark Cuban Cost Plus Drug Company Announce $9.5 Million in Client Savings Through Innovative Autoimmune Drug Sourcing

Through our partnership with Mark Cuban Cost Plus Drug Company, we reveal in Yahoo! Finance new savings data that showcases the power of the SmithRx approach to pharmacy benefits.

Drug pricing is broken. This San Francisco entrepreneur has a personal prescription

San Francisco’s leading business publication dives deep into CEO Jake Frenz’ personal passion for fixing drug pricing in America.

PBMs form Transparency-Rx to push for drug pricing reform

SmithRx is a founding member of Transparency-Rx, a lobbying coalition advocating for industry reforms targeting prescription drug costs. Learn more about our work in Modern Healthcare.

SmithRx is on a mission to reduce the complexity and costs of pharmacy benefits with radical transparency and cutting-edge technology.

© 2025 Smith Health, Inc