AdvancePCS and Humana Sign Agreement to Extend, Expand Current Contract; New Services to be Offered.Health/Medical Writers IRVING, Texas Irving (pronounced 'er-ving') is a city located in the U.S. state of Texas within Dallas County. According to the 2000 U.S. Census, the city population was 191,615; the 2006 estimate was 201,927 according to the North Central Texas Council of Governments, and 196,084 according to and LOUISVILLE, Ky.--(BW HealthWire)--Nov. 5, 2001 AdvancePCS (Nasdaq: ADVP), the nation's leading health improvement company, and Humana Inc. (NYSE NYSE See: New York Stock Exchange : HUM), one of the nation's largest publicly traded health benefits companies, Monday announced an agreement to expand their current business relationship and extend their existing contract through 2008. Under terms of the new agreement, the scope of services that AdvancePCS provides to Humana and its membership in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. will be significantly increased. "For several years, Humana and AdvancePCS have been working together to deliver health benefits to Humana plan members. We believe this new agreement is a reflection of the success of our partnership," said David D. Halbert, chairman and chief executive officer of AdvancePCS. "We look forward to the future as we work to provide comprehensive and innovative approaches to health care coverage." "Humana is transforming itself from a traditional managed care organization into a consumer-centric, total health benefits enterprise," said Michael B. McCallister, president and chief executive officer of Humana. "AdvancePCS' strong commitment to developing innovative programs and effectively using information technology to drive down the cost of health care and increase choices for our customers helps us achieve our goal." About Humana Humana Inc., headquartered in Louisville, is one of the nation's largest publicly traded health benefits companies, with approximately 6.4 million medical members located primarily in 18 states and Puerto Rico. Humana offers coordinated health insurance coverage and related services -- through traditional and Internet-based plans -- to employer groups employer group Association of employers Managed care An entity with a current group benefits agreement in effect with a health plan to provide covered health care services to its employee-subscribers and eligible dependents. and government-sponsored plans. More information regarding Humana is available via the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the at www.humana.com. 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. 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 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. networks, innovative clinical services, customized disease management programs, specialty pharmacy, clinical trials and outcomes research, information management, and prescription drug services for the uninsured. 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. |
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