Quarterly Round-Up: Judi Health in the News - H2 2025
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The back half of 2025 marked a pivotal phase of growth and impact here at Judi Health. We closed out the year with purpose, and we are carrying that strong momentum into 2026.
Here’s a look at our top headlines and highlights from Q3 and Q4 2025!
A New Era for Judi Health: Expanding Health Benefits Administration Capabilities and a Multi-Year Partnership with the Charlotte Hornets
With broadened capabilities, we’re entering a new chapter with a new identity. Our commitment to transparent, accessible healthcare remains the same, but our work now includes both pharmacy and medical claims administration, and we’re expanding further to bring vision and dental into the fold. “Judi Health” honors our roots while expanding the scope of what we offer. As a full-service health benefits technology company, we’re helping employers design and manage health benefits programs that meet their unique needs. Capital Rx will continue to be the industry-leading transparent PBM we’re known for. And with this expansion, we’re able to provide a more streamlined and connected experience for employers and plan members containing a suite of solutions that serve a different purpose within the healthcare journey.
Judi®, our proprietary enterprise health platform, powers every aspect of this unified framework. That includes Judi Health™, our unified claims processing platform, and Judi Care, our unified care navigation platform. Altogether, this approach will enable employers to deliver great benefits while reducing costs, and it will make members' experience seamless.
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Our evolution is not only reflected in our technology, but also our presence beyond healthcare. One of the most exciting steps forward is our new multi-year partnership with the Charlotte Hornets as an Exclusive Jersey Patch Partner! This partnership reflects our shared commitment to innovation, community impact, and pushing boundaries in our respective fields.
Beyond the jersey patch, this collaboration creates opportunities for joint community initiatives as well as programs that elevate our shared commitment to access and transparency.
Top Media Highlights of H2 2025
- In This Startup Hit A $3.25 Billion Valuation Building Software To Fix Drug Pricing – a Forbes exclusive – Amy Feldman highlights our funding announcement and AJ’s and Ryan’s vision for the future and the early success with unified pharmacy and medical claims processing.
- Noah Tong's coverage of Curative in Modern Healthcare, highlighting its recently announced Series B week, mentions Judi Health’s Capital Rx as its PBM of choice.
- EmblemHealth announced a “unique partnership, in collaboration with Amazon Pharmacy and Judi Health,” brings “transparent pricing, digital convenience, and fast, free home delivery of prescription medications” to its plan members.
- AJ spoke about PBM reform and the role of an administrator on the main stage at HLTH 2026 and took part in USC Mann’s Symposium on Future Pharmacy Business.
A Year of Recognition for Capital Rx & Judi Health: Honored by Inc., Crain’s, and Deloitte for Rapid Growth and Leadership
For the fourth year in a row, Capital Rx earned a spot on the 2025 Inc. 5000 list among the nation’s fastest-growing private companies. This recognition speaks to our team’s strength and the rising national demand for aligned, transparent health benefit solutions. It also reinforces the impact we’re making as we modernize health benefits for employers, plans, and members nationwide.
Our momentum reflects both the demand for transparent health benefit solutions and the impact we’re making as we modernize healthcare for employers, plans, and members nationwide, and that progress is being recognized across the industry. But growth at this scale doesn’t happen in isolation. It’s driven by leadership focused on building healthcare technology that works in the real world. Behind that growth is leadership guiding how we build, scale, and deliver impact.
Dr. Sunil Budhrani, our Chief Innovation and Medical Officer, was named by Crain’s New York Business as one its 2025 Notable Leaders in Health Care Technology. He continues to bring a deeply informed perspective on how we think about healthcare technology, shaped by decades of experience as a physician, executive, and digital health leader.
Dr. Budhrani’s combination of clinical insight and systems-level thinking is how we move forward here at Judi Health. From modernizing infrastructure to reducing friction for patients, providers, and employers, it’s thoughtful, intentional leadership that keeps our work focused on what actually matters, even as the industry continues to change around us.
By building transparent, scalable healthcare infrastructure, Judi Health is helping create a system that works more efficiently, reduces unnecessary complexity, and delivers clearer value across the healthcare ecosystem—an approach informed by leadership that understands healthcare from the inside out and keeps innovation rooted in practical, real-world needs.
Health Benefits 101: The Importance of a Transparent PBM Model
In our first Health Benefits 101 article, we break down why PBM transparency matters and what employers risk when it’s missing, especially during the RFP process.
Traditional PBM models often obscure pricing, manufacturer revenue, and claims data, making it difficult for employers to understand where their dollars are actually going and whether incentives truly align with their plan goals. That lack of visibility can quietly lock employers into arrangements that prioritize PBM margins over patient and plan outcomes.
We also highlight how Judi Health breaks away from the traditional PBM model by giving plan sponsors full visibility into pricing, passing through all manufacturer revenue, and offering real-time access to clean claims data.
The result? A pharmacy benefit approach that aligns incentives instead of masking them.
Related Content
Judi Health SMEs Dive into Auto-Refill Programs and Rx Data
Early refills, duplicate fills, and specialty drug waste are quietly inflating costs for plan sponsors. That’s why access to pharmacy and medical data is so critical. When employers can actually see what’s happening in their claims, they gain the leverage to make smarter decisions, strengthen benefit design, and reduce avoidable spending.
Visibility starts with access to data. Attaining it can be difficult, though. Bridget Mulvenna is no stranger to this challenge. Prior to her current role, she worked as a former pharmacy program director, and she has over 30 years of experience in the industry. In other words, she’s seen both sides of the equation. As she explained in her recent article, plan sponsors still struggle to access their pharmacy and medical claims data. But there are ways to fix that issue. Bridget explains exactly what data sponsors should be requesting their data and how the Consolidated Appropriations Act (CAA) empowers them to do so.
So, why does this matter in practice? Because once plan sponsors have visibility, they can evaluate things like refill timing, identify duplicate or unnecessary fills, and tighten controls around high-cost medications. As Josh Golden, SVP of Strategy, explains that kind of insight allows employers to take concrete steps to improve utilization oversight, strengthen benefit design, and reduce wasteful pharmacy spend.
Bridget also discussed this topic in a recent episode of our Astonishing Healthcare podcast, emphasizing how transformative visibility can be for employers navigating rising costs: “Once plan sponsors see their claims data clearly, they gain leverage they didn’t even realize they were missing.” For a deeper dive into the specific data points sponsors should request and how to turn that visibility into smarter decisions, check out Bridget’s full article and podcast episode.
The Bridge to Better Healthcare: Uniting Medical and Pharmacy Services on One Platform to Achieve Value-Based Care
Two Judi Health leaders took center stage in a webinar that tackled one of the biggest challenges employers are facing today: health benefit costs climbing at an unsustainable rate (25%-30%!) Our co-founder and CEO, AJ Loiacono, and Chief Innovation and Medical Officer, Dr. Sunil Budhrani, discussed how unifying medical and pharmacy claims through Judi Health gives plans a smarter, more efficient path forward.
By removing administrative waste and giving all stakeholders a shared foundation, we’re helping employers take real control of spending, driving 10%+ reduction in Medical PEPM and an 8%+ reduction in PEPM overall in our employee population as of January 2025, while improving the experience for members and providers at the same time.
If you missed it, the replay highlights how Judi Health gives employers the foundation they need to move toward a value-based healthcare system. It's trying to get ahead of 2026 cost pressures.
- 🎧 AH078 More About Judi Health™ & the Unified Benefits Experience, with Dr. Sunil Budhrani and Mike Tate
- 🎧 AH054 - Judi Health™: Going Beyond Pharmacy and into Medical Claims, with AJ Loiacono and Dr. Sunil Budhrani
Pharmacy Benefits 101: Successful Implementations
Switching pharmacy benefit models can feel risky, but it doesn’t have to!
We make the implementation process steady and manageable, which is how we earn trust when it matters most. As part of our Health Benefits 101 series, we dug into the essentials that keep implementations on track, and how a unified approach through Judi Health removes the guesswork that slows plans down. By getting the plan design right from the start and keeping every partner aligned, plans can avoid common pitfalls and move confidently toward launch. If you’re preparing for an upcoming rollout, this is your roadmap.
As Kristen Morgan, Director of Health Plan Implementations, shared on Episode 82 of the Astonishing Healthcare podcast: "We only get one shot to make a first impression on members, so we better get it right during the implementation."
That mindset drives our approach. Employers are starting the process earlier than ever, creating room for smarter planning, customization, and smoother transitions for members. Our transparent, collaborative approach builds trust from day one and sets plans up for long-term success.
AH081 – Promoting Competition & Innovation: The Push for PBM Reform, with Rep. Jake Auchincloss
We welcomed Congressman Jake Auchincloss (D, MA-04) to the Astonishing Healthcare podcast for a deep dive into his perspective on the federal push to reform pharmacy benefit managers and strengthen transparency across the healthcare system.
Rep. Auchincloss shared his views on promoting competition, protecting independent pharmacies, and advancing patient-first policies at the federal level. He also discussed the bipartisan Pharmacists Fight Back Act, which he authored and introduced in Congress, and the broader effort to rein in harmful practices common among the largest PBMs, including vertical integration, spread pricing, and other tactics that distort competition.
This forward-looking conversation adds important context to the national discussion on PBM reform and what meaningful change could look like for patients, pharmacies, and employers alike.
Capital Equilibrium Launches a New Level-Funded Pharmacy Benefit Program Powered by Capital Rx
In November, we introduced Capital Equilibrium, a new level-funded pharmacy benefit program to help employers manage rising healthcare costs with greater predictability, flexibility, and transparency. The program is delivered by Capital Rx and powered by Judi, the enterprise health technology platform that makes transparency possible.
Capital Equilibrium combines fixed monthly payments, often below market rates, with stop-loss protection for higher-than-expected claims. Employers get clearer pricing, fewer surprises, and a model that removes rebate-driven incentives common in traditional PBM models.
The program also offers individualized reporting, risk-sharing opportunities, and potential refunds or credits when claims perform better than expected. Members benefit from 24/7 multilingual support through our award-winning, U.S.-based call center.
With transparent pricing, locked-in savings, and customizable plan options, Capital Equilibrium gives employers more control over pharmacy spend and delivers real value.
Judi Health Appoints Sara Bunn as Chief Human Resources Officer
We recently welcomed Sara Bunn as our Chief Human Resources Officer! Sara brings nearly 20 years of experience leading workforce operations and organization development, most recently at Boston Consulting Group, where she served as an Executive Director supporting large, complex organizations through periods of growth and change.
As Judi Health continues to expand nationally, Sara will lead the evolution of our people strategy, focusing on how we attract, support, and develop talent across the organization. Her work will be central to building the systems, structure, and culture that allow our teams to operate at a high level as we scale.
With a background spanning organizational design, leadership development, and workforce transformation, Sara brings a practical, people-centered approach to growth. She will play a key role in strengthening our culture and enhancing employee experience to ensure our teams are equipped to deliver for employers, partners, and members as our impact continues to expand.
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