Aetna Certified for Third Year by HR Policy Association for Meeting Stringent Transparency Standards.HARTFORD, Conn. -- Aetna (NYSE NYSE See: New York Stock Exchange :AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. ) announced that the HR Policy Association, which represents 250 of the largest U.S. employers, re-certified Aetna's 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. organization for again meeting the HR Policy Association Pharmaceutical Coalition's standards, which provide employers with the most rigorous level of drug purchasing transparency available in the marketplace. Through the Coalition's Transparency in Pharmaceutical Purchasing Solutions(SM) (TIPPS(SM)) initiative, employers determine a standard definition of transparency and annually certify organizations that agree to TIPPS standards. In 2005, the coalition certified Aetna Pharmacy Management as one of only three PBMs certified to meet the coalition's stringent transparency test to help employers determine the true cost they pay for their prescription drugs. Aetna has maintained its certification ever since. "We are pleased that such a highly respected organization continues to recognize us for our efforts to provide customers with quality, affordable prescription drug benefits," said Mark Rubino, Chief Pharmacy Officer for Aetna Pharmacy Management. "It is gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. for us to know that the HR Policy Association shares our belief that customers and members need access to detailed cost and quality information to help them make informed decisions about their health." The TIPPS standards promote contracting that makes it easier for employers, their beneficiaries and dependents to understand the true price of a drug. TIPPS standards also are designed to ensure pharmacy benefit services are structured to encourage the use of the most cost-effective, clinically appropriate drug available. To be certified, Aetna agreed to: * Provide acquisition cost for brand and generic drugs dispensed at retail pharmacies; * Acquisition-based pricing for brand and generic drugs delivered through mail service; * Disclosure and pass through of all revenue from drug manufacturers that relates to utilization under an employer's contract; * Acquisition-based pricing and the same level of transparency for specialty pharmacy drugs; and * Rigorous audit rights to ensure compliance with the TIPPS standards. Earlier this month, URAC URAC Utilization Review Accreditation Commission (health care accreditation & certification) URAC University Recreation & Aquatic Centre Ltd (Australia) URAC Union Regional de Apoyo Campesino , an independent non-profit organization A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. that promotes health care quality through accreditation and certification programs, recognized Aetna with dual accreditation Dual accreditation is the practice in diplomacy of a country granting two separate responsibilities to a single diplomat. One prominent form of dual accreditation is for a diplomat to serve as the ambassador to two countries concurrently. in PBM PBM - play by mail. See play by electronic mail. and Drug Therapy Management (DTM DTM dermatophyte test medium. ). Meeting these standards certifies that Aetna has achieved URAC's exacting benchmarks for a broad spectrum of best practices, including customer service, communications, disclosure of pricing policies, pharmaceutical distribution and drug utilization management. About the HR Policy Association HR Policy Association is a public policy advocacy organization representing the senior human resource executives of more than 250 leading employers doing business in the United States. Collectively, its members employ over 12 percent of the U.S. private sector workforce or some 19 million Americans. Due to extreme concern over skyrocketing health care costs in the United States and deficiencies in efficiency and quality, the Association has been working through its public policy agenda and market reform initiatives to address the problems that plague our nation's health care system. About Aetna Aetna is one of the nation's leading diversified health care benefits companies, serving approximately 34.9 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life, long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. and disability plans, and medical management capabilities and health care management services for Medicaid plans. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans and government-sponsored plans in both the U.S. and internationally. www.aetna.com Transparency in Pharmaceutical Purchasing Standards and TIPPS are service marks of Health Care Policy Roundtable, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion