AdvancePCS Wins Multi-Year Contract Renewal to Serve Blue Cross and Blue Shield Association Federal Employee Program.Business Editors/Health & Medical Writers IRVING, Texas--(BW HealthWire)--June 13, 2001 AdvancePCS (Nasdaq: ADVP), the nation's leading health improvement company, Wednesday announced it has been awarded a multi-year contract renewal by the Blue Cross and Blue Shield Association
"We are pleased to be continuing our relationship with the Blue Cross and Blue Shield Association Federal Employee Program, and we look forward to building upon the solid foundation the two organizations have established over the past eight years," said David D. Halbert, chairman and chief executive officer of AdvancePCS. "This renewal is a clear indication that our clients recognize the benefits of the quality service and innovative programs we provide for their members. We are proud that the Blue Cross and Blue Shield Association has acknowledged AdvancePCS' unique value proposition." The Blue Cross and Blue Shield Association has renewed the entire existing relationship as well as requested that AdvancePCS provide additional services customized specifically for this plan. Under terms of the agreement, which is effective Jan. 1, 2002, AdvancePCS will continue to manage a comprehensive retail 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. network, provide online claims processing services, provide 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. management services, and implement a variety of innovative clinical programs. "We have been able to help the Blue Cross and Blue Shield Service Benefit Plan retain its status as a leading-edge health plan through benefit modeling, actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin work, and other consultative services," noted Halbert. "One of the key values we provide our clients is our ability to tailor and refine our services over the years to ensure that we are always meeting the unique needs of the client and their members." 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 annually in 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. The company offers health plans a wide range of health improvement products and services designed to improve the quality of care delivered to health plan members. The company's capabilities include integrated mail service and retail pharmacy networks, innovative clinical services, customized disease management programs, clinical trials and outcomes research, information management, and prescription drug services for the uninsured. 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 an information technology leader and has developed several online health e-solutions, including www.AdvanceRx.com, one of the country's most comprehensive Internet pharmacies internet pharmacy Online A website that offers prescription drugs from the comfort of home Cons The IP or prescribing physician may not be qualified or licensed to prescribe drugs in all states. See Operation Cure-All, VIPPS. . The company's e-health portal, www.BuildingBetterHealth.com, helps people stay healthy by providing valuable information on health and wellness. 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. Factors that would cause or contribute to such differences include, but are not limited to, factors detailed in AdvancePCS' Securities and Exchange Commission filings. |
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