RxAdvance Appoints New Members to Its Executive Management Team [Manufacturing Close – Up]

RxAdvance, a pharmacy benefit management (PBM) company, announced that it has expanded its executive management team with industry veterans Prakash Tallabattula, who joins as EVP and chief technology officer; Frank Shiraldi, who will serve as EVP and chief pharmacy officer; and Christine Kyle, who will be EVP and chief marketing officer.

According to a release, RxAdvance was established by Ravi Ika, founder and executive chairman of Southborough-based ikaSystems until this past February. Ika has proven that significant administrative cost reductions were possible with a cloud-based technology platform. He very quickly raised funding for and launched RxAdvance, bringing his same "game-changing" approach to the pharmacy benefit management industry. In his latest endeavor, Ika has created an actual full service PBM company to run efficiently through technology innovation. This solution will significantly reduce RxAdvance's administrative costs and plan sponsor unit costs; optimize drug utilization/adherence; and improve collaboration and transparency between plan sponsors and RxAdvance for better health outcomes.

Prakash Tallabattula, EVP and chief technology officer, oversees all technology operations, research and development, both onshore and offshore. Tallabattula is an effective leader and hands-on technology strategist with over 15 years of documented achievements in start-up, turnaround, high-growth, and Fortune 500 corporate environments. He is a driving force behind strategies, processes, and technology solutions delivered collaboratively through cross- functional relationships built across the organization.

The company noted that Tallabattula worked as a senior enterprise architect at Fannie Mae, where he was responsible for the organization's technology roadmap. He was also a senior architect at Verizon, where he played a key technical role on Verizon Dialup/DSL/ FIOS solutions. In addition, he headed technology teams and was a member of executive teams at Sylvan Learning, Hanleywood, and other companies.

Frank Schiraldi, R.Ph., EVP and chief pharmacy officer, is responsible for development, implementation and oversight of the PBM program across multiple business lines. He ensures compliance with contractual guidelines affected by regulatory agencies, and leads strategic approaches to managing pharmacy costs for health plans that include sophisticated modeling. Schiraldi also oversees the drug utilization committee, plan-specific pharmacy management initiatives, and strategic pharmacy network contracting. He is a member of the Pharmacy and Therapeutics Committee.

Schiraldi most recently served as VP of business informatics at BeneCard PBF, where he was responsible for operational metrics for key business areas across the company, including clinical services, client services, networks, sales, and the executive management team. Before that, he served as VP at Xerox Audit & Compliance Solutions, where he oversaw a pharmacy auditing company and developed advanced pharmacy claims analytical tools and fraud detection methodology. He held positions with McKesson and Rite Aid Corp., with responsibilities in third-party administration and management. He has also held various business and clinical roles with companies including Keystone Mercy Health Plan and Eagle Managed Care.

RxAdvance reported that Christine Kyle, EVP and chief marketing officer, is responsible for overall sales and marketing activities for all lines of business of the company. She is also responsible for strategic business development and partnership development. Most recently, Kyle served as the VP of sales for Sodexo, a global healthcare onsite service solutions company providing strategic direction and sales leadership for the company's U.S. senior living division. Previously, she was VP of specialty pharmacy payer sales and account services for CVS Caremark where she was responsible for providing strategic direction to support the market development of existing clients and expand into new and competitive markets. Prior to that, Kyle was VP at Aetna specialty pharmacy sales and account management. She has held respected positions at the top five Fortune 100 health insurance companies (Aetna, Humana, Anthem BCBS, UnitedHealthcare and Cigna) and is an expert in her field.

More Information:

rxadvance.com

((Comments on this story may be sent to [email protected]))