AdvancePCS Announces Enhanced Consumer-Directed Pharmacy Benefit Services; Company Offers Expert Advice To Help Clients Evaluate Option's Feasibility.Business Editors/Health/Medical Writers IRVING, Texas--(BUSINESS WIRE)--Nov. 3, 2003 AdvancePCS (Nasdaq:ADVP), the nation's leading health improvement company, today announced the launch of additional consumer-directed pharmacy benefit options, offering clients the opportunity to reduce health care spending while providing members with greater and more flexible control over their prescription benefits. The AdvancePCS consumer-directed health (CDH Congenital diaphragmatic hernia (CDH) A condition in which the fetal diaphragm—the muscle dividing the chest and abdominal cavity—does not close completely. Mentioned in: Prenatal Surgery ) plan offering reflects the company's belief that involving members more closely in managing their health care will result in better outcomes and lower costs. The core capabilities are designed to give members access to the tools and information they need to help them make informed decisions. The program maintains the existing real-time prescription claims experience, which is familiar to most consumers. In addition, because so many health plan sponsors are evaluating CDH programs, AdvancePCS offers experts to help clients conduct an assessment of their current pharmacy benefit plan and define a program best suited to their needs. The company's actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin models provide cost and outcome scenarios enabling clients to see how a pharmacy CDH plan would impact cost sharing and overall benefit costs. "The consumer-directed health concept can provide consumers maximum flexibility and choice while retaining traditional savings and safety benefits," said Joe Aita, M.D., AdvancePCS senior vice president and chief medical officer. "AdvancePCS is fully prepared to guide its clients through the maze of alternatives in the marketplace and help them to determine whether a CDH plan design may be right for them. Regardless of what type of plan design is selected, however, our newest suite of tools will enhance the consumer experience and knowledge base in making better informed health care decisions." Sandra Kuhn, a senior manager with the consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a of Deloitte, which has worked with AdvancePCS to address the needs of several mutual clients, believes the enhanced offering is another indication that consumerism consumerism Movement or policies aimed at regulating the products, services, methods, and standards of manufacturers, sellers, and advertisers in the interests of the buyer. is taking a stronger hold in the marketplace. "This is true not only with employers, but also with the providers who develop products and solutions," she said. "Plan designs such as these represent the transformational movement of products and services that are becoming more employee-centric." As part of the expanded CDH offering, AdvancePCS will provide point-of-sale administration of an employer-funded health reimbursement account  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. . The cost of the medication is deducted from the member's health spending account at the point of sale. Once depleted de·plete tr.v. de·plet·ed, de·plet·ing, de·pletes To decrease the fullness of; use up or empty out. [Latin d , the HRA HRA Health Reimbursement Arrangement HRA Health Risk Assessment HRA Housing and Redevelopment Authority HRA Human Resources Administration HRA Health Reimbursement Account HRA Housing Revenue Account gives way to a deductible That which may be taken away or subtracted. In taxation, an item that may be subtracted from gross income or adjusted gross income in determining taxable income (e.g., interest expenses, charitable contributions, certain taxes). period, in which drug expenses are the member's responsibility. The benefit then converts to a traditional benefit structure after the HRA is exhausted and the deductible is met. Unused HRA funds may roll in total or in part into the following year's benefit, and the program will provide prorating prorating (prōrā´ting), n a clause in a contract with participating dental professionals wherein they agree to accept a percentage reduction in their billings to offset the amount by which the total cost of of HRA amounts and deductibles for members joining midyear mid·year n. 1. The middle of the calendar or academic year. 2. a. An examination given in the middle of a school year. b. midyears A series of such examinations. . A key component of AdvancePCS' consumer-education initiative for all members covered by AdvancePCS, regardless of plan design, is the recently enhanced prescription management capabilities of its award-winning member Web site, AdvanceRx.com. This new functionality provides member-specific details on prescription drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, coverage and the ability to conduct price inquiries and compare the cost of generic drugs generic drug, a drug sold or prescribed under the nonproprietary name of its active ingredients or under a generally descriptive name rather than under a brand or trade name. versus brand products. Members also can use the site to view health reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. amounts and deductible balances, calculate daily and annual drug costs, search for pharmacies and compare the cost of retail and mail delivery options. Toll-free help line and member education programs are available. For clients, AdvanceRx.com offers the ability to encourage mail utilization and lower cost alternatives through the messaging capabilities specific to their benefit plan. "AdvancePCS believes that its consumer-oriented pharmacy program capabilities leverage our proven cost-containing management capabilities, and depending upon the needs of the client, will support or complement integrated medical and pharmacy offerings," Aita said. Clients and prospective clients interested in further information may contact Sue Wood, AdvancePCS vice president responsible for consumer-directed products and services, at 469-524-4755. About AdvancePCS AdvancePCS (www.advancepcs.com) is the nation's leading provider of health improvement services. AdvancePCS offers health plans a wide range of health improvement products and services designed to improve the quality of care delivered to health plan members and manage costs. The company's capabilities include integrated mail service and retail pharmacy networks, innovative clinical services, customized disease management programs, specialty pharmacy, outcomes research, information management, prescription drug services for the uninsured, and online health information for consumers. AdvancePCS clients include Blue Cross and Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. organizations, insurance companies and HMOs, Fortune 500 employers, Taft-Hartley groups, third-party administrators, state and local governments, and other health plan sponsors. AdvancePCS is ranked by Fortune magazine as one of America's 100 fastest-growing public companies and is included on the Forbes Platinum 400 list of best big companies. AdvancePCS earned the No. 3 spot on the Barron's 500 list of best performing companies. |
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