Greg Madsen, RPh, is co-CEO and co-founder of Innovative Rx Strategies. Greg, along with his business partner Michael Staab, established Innovative Rx Strategies in 2008 as a pharmacy benefits consulting company focused on identifying opportunities to lower client’s prescription drug costs. Greg possesses first-hand knowledge of PBM pricing models and is an expert in MAC programs and generic pricing. He also has extensive knowledge of claims adjudication processes and benefit design administration, along with years of negotiating and auditing experience.

A registered pharmacist, Greg brings more than 30 years of managed care experience to Innovative Rx Strategies. Prior to founding Innovative Rx Strategies, Greg was the senior vice president of retail services for CVS Caremark. He was responsible for developing strategies to expand the company’s retail programs, developing MAC programs and was a key contributor to the client underwriting process.

Prior to joining Caremark, Greg was director of strategic provider services at Diversified Pharmaceutical Service, where he was responsible for designing and developing strategic network initiatives, negotiating multi-million dollar retail and mail service agreements, spearheading cross-functional teams to implement pharmacy initiatives, and presenting the department’s capabilities during finalist presentations. Greg also worked for PCS Health Systems in Scottsdale, AZ, where he was responsible for managing the audit department. Prior to his tenure with PCS, Greg was a pharmacist at Walgreens. There he assisted with the initial set-up of the company’s first mail order pharmacy and developed operational procedure for that facility.

Greg earned his Bachelor of Science degree in Pharmacy from South Dakota State University College of Pharmacy and his Master of Business Administration degree from Arizona State University.