Blue Cross Blue Shield of Illinois Renews Contract With WellPoint Pharmacy Management; Customized, Fully Integrated Program Key to Success of PBM Partnership.WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Oct. 27, 1998--Michael Nameth, general manager, WellPoint Pharmacy Management, Tuesday announced that the Pharmacy Benefits Management subsidiary of WellPoint Health Networks Inc. (NYSE NYSE See: New York Stock Exchange : WLP WLP WebLogic Portal (Bea Systems) WLP Wafer Level Packaging WLP Women's Learning Partnership (Bethesda, MD) WLP Workplace Learning & Performance WLP World Library Partnership, Inc. ), has renewed its contract with Blue Cross Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. of Illinois. "Our customized approach is key to our lasting customer relationships," said Nameth. "We've achieved significant growth this year -- growing by more than one million members in just the first two quarters and we're pleased that Blue Cross Blue Shield of Illinois is cementing its commitment to our pharmacy benefits management program." With the contract renewal, WellPoint Pharmacy Management will continue to provide claims processing, integrated clinical programs, network management and therapy and disease state management. According to Nameth, WellPoint Pharmacy Management's ability to establish a unique synergy with its clients is key to serving its client base. "As a health-plan-owned pharmacy benefits management company, we understand the special needs of our health plan customers. Our goals are similarly aligned, enabling us to cultivate mutually satisfying relationships." "Blue Cross Blue Shield of Illinois is pleased to be renewing our relationship with WellPoint Pharmacy Management," said Kevin Slavik, RPh, manager of Pharmacy Programs, Blue Cross Blue Shield of Illinois. "After evaluating other PBMs, WellPoint represented the best fit for our organization." WellPoint Pharmacy Management is the nation's leading health- plan-owned 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. company serving 16 million lives. WellPoint Health Networks, one of the nation's largest publicly traded managed care companies, serves the health care needs of 6.8 million medical and over 23 million specialty members nationally. WellPoint offers a broad spectrum of quality network-based health products including HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, , PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there , POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale and specialty managed care products. Specialty products include pharmacy benefit management, dental, utilization management, vision, mental health, life and disability insurance, flexible spending accounts, COBRA administration, and Medicare supplements. |
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