Catalyst Rx Wins 2011 URAC Platinum Award for Best Practices in Health Care Consumer Empowerment and Protection
October 13 2011 - 8:30AM
Business Wire
Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of
Catalyst Health Solutions, Inc. (NASDAQ: CHSI), today announced it
has won the 2011 Platinum Award for Best Practices in Health Care
Consumer Empowerment and Protection from URAC, the nation’s leading
healthcare accreditation organization. Catalyst Rx was recognized
for its Generic Advantage Plan, which empowers members with vital
information on lower cost drug alternatives.
The Generic Advantage Plan combines innovative features and
technology to maximize the use of the most clinically effective
medications at the lowest net cost. The program deploys a series of
customizable features, including targeted member and prescriber
education initiatives, Catalyst's Formulary Advantage to enhance
formulary compliance and increase generic utilization, and the
Company's award-winning Catalyst Rx Price and SaveSM drug pricing
tool, which is now available via smartphone technology.
Generic Advantage was developed after more than a year of
consultation with pharmacy, behavioral psychology and technology
experts with the goal of lowering costs while improving care. While
there is strong consumer demand for knowledge, consumers typically
lack sufficient information or cost data related to their health
care benefits to make optimal purchase decisions. On average,
Generic Advantage has decreased plan costs by 23% across targeted
drug categories within the first 12 months of implementation.
"Our Best Practices awards program is a unique celebration of
innovative health care management programs. These organizations
have implemented leading programs that have made a difference in
the lives of the consumers they serve with demonstrable results
that matter," said Alan P. Spielman, President and Chief Executive
Officer of URAC. “This year's winners are recognized for their
leadership in delivering on the promise of a quality health care
system that puts consumers first.”
"We are honored to have received URAC’s Platinum Award for Best
Practices,” said David T. Blair, Chief Executive Officer of
Catalyst. “Our clients have seen great success through our Generic
Advantage Plan, reflecting our commitment to providing members with
the tools they need to make informed decisions about their pharmacy
benefits while lowering overall health care costs.”
About URAC’s Best Practices in Health Care Awards
The URAC Best Practices award winners are recognized for
leadership in driving innovation for the health care industry.
Entries were judged by a distinguished 20-member panel of
prestigious, independent judges including recognized experts in
program evaluation, care coordination, health information
technology, employer and purchaser decision making and patient
safety. Entries were reviewed and scored by the judges based on
objective criteria including whether the program was measurable, if
it was reproducible and delivered through a collaborative
approach.
About Catalyst Health Solutions, Inc.
Catalyst Health Solutions, Inc., the fastest-growing national
PBM in the U.S., is built on strong, innovative principles in the
management of prescription drug benefits and provides an unbiased,
client-centered philosophy resulting in industry-leading client
retention rates. The Company's subsidiaries include Catalyst Rx, a
full-service pharmacy benefit manager (PBM) serving more than 18
million lives in the United States and Puerto Rico; HospiScript
Services, LLC, one of the largest providers of PBM services to the
hospice industry; FutureScripts, LLC, a full-service PBM serving
approximately 1 million lives in the mid-Atlantic region, and
Immediate Pharmaceutical Services, Inc., a fully integrated
prescription mail service facility in Avon Lake, Ohio. The
Company's clients include self-insured employers, including state
and local governments, managed care organizations, unions,
hospices, third-party administrators and individuals.
Forward-Looking Statements
This press release may contain "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
These statements involve a number of risks and uncertainties that
might materially affect our results, particularly those risks
referred to in our Annual Report on Form 10-K for the year ended
December 31, 2010, and in our Quarterly Report on Form 10-Q for the
quarter ended June 30, 2011, under "Item 1A. Risk Factors." Readers
are urged to carefully review and consider the various disclosures
made in our Annual Report on Form 10-K, our Forms 10-Q, and our
other filings with the Securities and Exchange Commission that
attempt to advise interested parties of the risks and uncertainties
that may affect our business. Catalyst Health Solutions, Inc. does
not undertake any obligation to update forward-looking statements,
whether as a result of new information, future events or other
developments.
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