AdvancePCS and Tufts Health Plan Reach Agreement On Multi-Year Contract.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 WALTHAM, Mass.--(BW HealthWire)--Jan. 10, 2001 AdvancePCS (Nasdaq: ADVP), the nation's leading health improvement company, and Tufts Health Plan, a not-for-profit managed care organization offering a full array of health care coverage products, Wednesday announced they have signed a multi-year agreement for the provision of 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 to the plan's 912,700 members. Under terms of the contract, AdvancePCS will continue to provide fully integrated pharmacy benefit management and related services, extending a relationship with Tufts Health Plan that began in 1991. The services provided by AdvancePCS include fully integrated retail and mail service pharmacies, 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 and comprehensive clinical programs. Through use of the Tufts Health Plan Web site, which is linked to the AdvancePCS Web site, members can order prescription refills online, access drug information and obtain their own individual 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, history. "Tufts Health Plan's long-standing relationship with AdvancePCS is based on a commitment to quality that both companies share," said Deborah Whitehead, assistant vice president at Tufts Health Plan. "This stability helps us work together on innovative solutions to rising pharmacy costs and ensures that the interest of our providers, 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 members is well served." "AdvancePCS greatly appreciates Tufts Health Plan's decision to renew its agreement with us," said David D. Halbert, AdvancePCS chairman and chief executive officer. "They have a well-deserved reputation for quality service, and we look forward to working with them to develop even better ways of providing excellent health care." About Tufts Health Plan Tufts Health Plan (www.tuftshealthplan.com), one of the country's largest health plans, has received high marks for its quality from a variety of third parties, including CareData Reports, U.S News & World Report and Newsweek. Tufts Associated Health Maintenance Organization Inc. and Total Health Plan Inc. have been given Excellent NCQA NCQA National Committee on Quality Assurance, see there status. 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 Americans and managing more than $18 billion annually in health care spending. The company offers health plans a comprehensive array of highly effective pharmacy benefit and health benefit management services designed to build better health. Its 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 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. Fortune magazine named AdvancePCS to its list of the 100 fastest growing companies in America -- ranking AdvancePCS No. 23, while Forbes listed the company at No. 253 in its Platinum 400 series of the nation's fastest growing and top earning corporations. AdvancePCS is an information technology leader and has developed several online health care 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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