AdvancePCS Purchases Mobile Technology Assets of iScribe; Acquisition Will Enhance Physician Communication Capabilities and Help Improve Patient Health.Business Editors & Health/Medical Writers IRVING, Texas--(BW HealthWire)--Jan. 8, 2002 AdvancePCS (Nasdaq:ADVP), the nation's leading health improvement company, today announced it has purchased software code and other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. of iScribe iScribe Therapeutics A handheld electronic prescribing doodad in order to expand its capabilities and expertise in the area of physician connectivity. This acquisition will help supplement internal efforts in the development of mobile electronic applications that deliver 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 and prescribing information to physicians and other members of the care team at the point of care. "Enhancing communications with physicians using wireless and online technology holds great promise for improving patient health," said Jon S. Halbert, vice chairman of AdvancePCS. "We are committed to finding new and innovative ways to support physicians with information that can result in increased safety, greater efficiency, better health outcomes, and lower drug costs." To better serve its health plan clients, AdvancePCS is developing technology that uses hand-held and other computing computing - computer devices to provide physicians with access to 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. guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. , patient drug histories, drug interaction information, and alternate therapy choices. By making it convenient for physicians to obtain this information before a prescription is written, patient care and service can be improved. It also can result in reduced costs for health plans and lower copays for patients when physicians know which drug is the most cost effective. Ultimately, the technology will allow physicians to transmit prescriptions electronically to the patient's pharmacy through RxHub, the company's electronic exchange joint venture. RxHub was formed last year by AdvancePCS, Express Scripts and Merck-Medco Managed Care to facilitate the routing of electronic prescriptions and related information. In addition to purchasing assets, AdvancePCS will continue to support the network of approximately 5,000 physicians who currently use iScribe technology and systems. "We value the insight these physicians provide and will continue to work with them to further the development of e-health services," noted Halbert. 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 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, 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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