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CompRx

Structured factoring for workers' compensation pharmacy receivables

CompRx purchases eligible receivables from Pharmacy Benefit Managers (PBMs) and offers them for purchase to investment entities at market rates.

Contact UsHow It Works

How It Works

The program has two phases: a 6-month pilot, then an ongoing factoring arrangement based on the validated Net Realized Value (NRV).

Phase 1

6-Month Pilot

  • CompRx assumes full financial responsibility for the cost of medications dispensed through the program.
  • The investment entity incurs no upfront financial exposure and receives no reimbursement for claims submitted during the pilot.
  • Prescriptions are submitted to the partnered mail-order pharmacy or the patient's preferred pharmacy. CompRx bears the risk of delayed, partial, or denied workers' compensation reimbursements.

Phase 2

CompRx Program

  • Eligible workers' compensation pharmacy receivables are made available for purchase to qualified investment entities at a defined discounted rate based on the validated NRV.
  • Purchase Price = NRV × 70%. That is the price the investment entity pays for submitted claims.
  • The investment entity receives payment on purchased receivables once they are collected, and assumes the collection risk.

Compliance

Key regulatory considerations for the CompRx program.

Anti-Kickback Statute & Stark Law

Physicians are not permitted to purchase the prescription account receivables. No compensation is paid to physicians for patient referrals. Prescription routing to the mail-order partner is always patient-directed and voluntary.

HIPAA

All protected health information (PHI) is handled in accordance with HIPAA. Appropriate Business Associate Agreements (BAAs) are executed with all applicable parties.

State Workers' Comp Regulations

CompRx operates in compliance with applicable state workers' compensation statutes and pharmacy billing requirements in each jurisdiction where the program is offered.

Factoring Disclosure

The sale of accounts receivable through factoring is a recognized and lawful financial arrangement in healthcare. Factoring does not constitute a loan or a debtor-creditor relationship between the entity and CompRx.

Contact

Call or send a message to ask about the 6-month pilot or the ongoing CompRx factoring program.

Send a message

Include your name, contact information, and a brief description of your inquiry. Please do not include protected health information (PHI).