AdvancePCS Awarded Multi-Year Contract by Horizon Blue Cross Blue Shield of New Jersey.Business Editors, Health/Medical Writers IRVING, Texas--(BW HealthWire)--Jan. 7, 2002 AdvancePCS (Nasdaq: ADVP), the nation's leading health improvement company, Monday announced it has signed a multi-year agreement with Horizon Blue Cross Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. of New Jersey to begin providing fully integrated pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. services on July 1, 2002. Horizon BCBSNJ BCBSNJ Blue Cross Blue Shield of New Jersey provides health plan coverage to more than 2.5 million individuals, with approximately 1.4 million members under management for pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. benefit services. "We are pleased to have Horizon Blue Cross Blue Shield of New Jersey select us to help them manage critical components of their members' care," said David D. Halbert, chairman and chief executive officer of AdvancePCS. "We will be working together, using our comprehensive health improvement approach, to help ensure that Horizon BCBSNJ's clients and members receive the best quality service available." William J. Marino, president and chief executive officer of Horizon BCBSNJ, said, "AdvancePCS was selected because of its proven focus on quality, its broad range of products and services that meet our requirements, and the economic benefit that AdvancePCS offers through improved management of services. "We are especially impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: with AdvancePCS' clinical capabilities, which help physicians stay better informed about prescribing alternatives, improve compliance with our formulary formulary /for·mu·lary/ (for´mu-lar?e) a collection of recipes, formulas, and prescriptions. National Formulary see under N. for·mu·lar·y n. , and promote clinically and economically effective generic products." Under terms of the agreement, AdvancePCS will manage a comprehensive retail pharmacy network and provide online claims processing, mail order and formulary management services. AdvancePCS also will implement a variety of clinical programs for Horizon BCBSNJ, including initiatives that educate and empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems health plan members to make better-informed decisions about their own care. In addition to obtaining services through their community pharmacies This article is a list of major pharmacies (also known as chemists and drugstores) by country. Australia Pharmacies in Australia are mostly independently-owned by pharmacists, often operated as franchises of retail brands offered by the three major , Horizon BCBSNJ plan members will be able to fill prescriptions and obtain drug and other health care information through AdvancePCS' award-winning Web site, AdvanceRx.com. "Horizon Blue Cross Blue Shield of New Jersey is a very sophisticated and progressive organization, as reflected by the new and innovative programs that AdvancePCS will be implementing on their behalf," said David A. George, AdvancePCS president. "Their decision to award AdvancePCS this contract validates the strategic positioning of our company, which is centered on improving the health of individuals while reducing costs." About Horizon Blue Cross Blue Shield of New Jersey Horizon Blue Cross Blue Shield of New Jersey, a not-for-profit organization with headquarters in Newark, N.J., is the leading health services health services Managed care The benefits covered under a health contract corporation in the state and a major regional provider of health care benefits. The company provides health coverage to more than 2.5 million people and offers managed care, Medicare and traditional indemnity health plans for individuals, families and groups. About AdvancePCS AdvancePCS (www.advancepcsrx.com) is the nation's largest independent provider of health improvement services, touching the lives of more than 75 million health plan members and managing more than $21 billion in annual 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, spending. 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, clinical trials and outcomes research, information management, prescription drug services for the uninsured, and online health information for consumers. AdvancePCS clients include Blue Cross and Blue Shield organizations, insurance companies and HMOs, Fortune 500 employers, Taft-Hartley groups, 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. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Any statements included in this press release that are not historical facts and that concern predictions of economic performance and management's plans and objectives constitute forward-looking statements under the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provision of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. We do not undertake any obligation to provide updates to such forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changes in the health care industry or the economy in general, competition, acquisitions, changes in the legislative or regulatory environment, and other factors detailed in AdvancePCS' Securities and Exchange Commission filings. |
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