Our Difference

RxAdvance was founded by a team of notable physician, healthcare, and technology entrepreneurs who have individually built several health systems and clinics, health insurance companies, and hi-tech software companies to disrupt traditional paradigms by delivering unparalleled savings and services in their respective industries.

Our History

The founders of RxAdvance have impressive track records that include decades of building disruptive technology platforms that transform the status quo of the health insurance industry. These platforms have led to significant administrative and medical cost reduction across enterprises. Below are the highlights of this diverse and influential history:

  • RxAdvance
  • IkaSystems
  • 2000-2013

    Healthcare entrepreneur, Ravi Ika, founder and CEO of RxAdvance builds ikaSystems. ikaSystems is a payor enterprise cloud platform company, that delivers unparalleled savings through administrative and avoidable medical costs reduction. In 2008, ikaSystems secures BCBS Michigan as a client and reduces its administrative cost by 50% ($21PMPM to $11PMPM). By 2013, the enterprise system is used by over 30 insurance carriers comprising of 35 million lives.

  • 2013

    RxAdvance is founded

  • Mid 2015

    Collaborative PBM Cloud™ Platform is production ready

  • October 2015

    RxAdvance signs first contract with Avera Health Plan

  • January 2016

    RxAdvance goes live with its first client, Avera Health Plan

  • November 2016

    Former Apple CEO and RxAdvance chairman, John Sculley, formally accepts position as RxAdvance Chief Marketing Officer

  • 2016

    RxAdvance delivers negative 4% pharmacy trend for first client

  • 2017

    RxAdvance builds extensive industry awareness through diligence activities with large health insurers and PBMs

  • November 2017

    RxAdvance goes live with first SMART fund

  • March 2018

    RxAdvance announces strategic partnership with Centene

  • November 2018

    RxAdvance implements first Centene Medicaid MCO

  • January-October 2019

    RxAdvance successfully migrates 8 Centene Medicaid MCOs onto its platform

  • October 2019

    RxAdvance and Centene announce coalition partnership with Walgreens Boots Alliance

  • December 2019

    RxAdvance announces that it has earned URAC accreditation in Pharmacy Benefit Management