SAN ANTONIO, Sept. 7, 2016 /PRNewswire/ -- Healthcare technology firm CaptureRx®, a leader in 340B solutions for hospitals, health centers, pharmacies and managed care organizations, announced today that company president, Dave Byrd, has been appointed CEO. Byrd succeeds former CEO, Chris Hotchkiss, who remains chairman of CaptureRx's board of directors.
Since joining CaptureRx in 2014, Byrd has served in key leadership roles as the company's chief financial officer, chief operations officer and president. During his tenure, the company's customer base has expanded to more than 500 covered entities and nearly 3,000 pharmacies.
Byrd has a proven record of success leading organizational transformations throughout a career that spans nearly three decades. As a senior executive with Diebold, he managed multimillion dollar operations and a startup division that launched the company into the healthcare sector. Byrd has also made significant growth contributions as a financial executive at other leading technology companies, including IBM and Electronic Data Systems.
"Dave is committed to building upon our company values and culture, and that was important to me in selecting a new CEO," said Hotchkiss. "I have confidence in his ability to inspire our team and to shape the company's strategic direction while ensuring we remain focused on our customers' needs – and ultimately, the lives of the patients they serve."
Working in partnership with Hotchkiss, Byrd helped lead the growth of the CaptureRx team from 75 employees to more than 120 over the past two years, adding a senior leadership team to guide process improvements and create strategic partnerships to fuel continued growth. Under the direction of Hotchkiss and Byrd, the team has concentrated on expanding the company's specialty pharmacy relationships, optimizing the company's cash card offering, launching a 340B solution for Medicaid managed care, and developing a split-billing solution. Looking ahead, Byrd says the company's focus will be on creating passionately loyal customers by delivering a premier customer experience.
"We want to do more than help improve our customers' financial viability with our 340B solutions," Byrd said. "We want to be seen as their partner in serving patient lives by helping them improve medication access and convenience for their patients."
Founded in 2000, San Antonio-based CaptureRx is a leading 340B solution provider that puts patients first, touching millions of patient lives through innovative products and services that support relationships among payers, providers, pharmacies and patients. Our solutions manage inventory and financial flow for 340B prescriptions filled at contract pharmacies and perform the eligibility checks required to comply with 340B program requirements. Using a process that's seamless to the covered entity, pharmacy and patient, our Cumulus platform has processed more than 183 million patient encounters and more than 647 million switch claims. Currently, CaptureRx solutions serve more than 500 hospitals and health centers in 45 states via a robust pharmacy network and a preferred 340B partnership allowing access to any Rite Aid pharmacy.
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