Catalyst Rx Implements Additional MedInitiatives Solution to Streamline Manufacturer Rebate Contract Management.SACRAMENTO, Calif. & ROCKVILLE, Md. -- Catalyst Rx, the 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. (PBM PBM - play by mail. See play by electronic mail. ) division of HealthExtras, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :HLEX) and long-time client of MedInitiatives, a leader in business intelligence technology for health care, has implemented MedInitiatives iCalculate(TM), a Web-based drug rebate management solution, to streamline and add flexibility to current processes. "MedInitiatives has been a true partner in taking our technical and analytical capabilities to the next level in pharmacy benefit management and this new solution is an example of how we continue to advance our offerings," said Kevin Hooks, President of Catalyst Rx. "MedInitiatives iCalculate will provide us the ability to more effectively manage the rebate contracting process, ensuring our clients receive the maximum benefit afforded by their rebate contracts through dynamic analytics." MedInitiatives iCalculate provides finance teams with a comprehensive analytics component to instantly trend, analyze and audit all aspects of the process with full Sarbanes-Oxley compliance. Contracting teams can build and execute draft contract scenarios against real-time claims data to negotiate agreements. With MedInitiatives iCalculate, users can easily evaluate utilization data to quickly analyze the net-net bottom line from claim level detail all the way to the full book of business level. MedInitiatives' solutions empower clients to more proactively manage the pharmacy benefit, allowing them to bring outsourced projects in house. Besides rebate contract management, these projects include fraud, abuse and error detection, medication therapy management (MTM MTM Medication Therapy Management MTM Minutes to Midnight (Linkin Park album) MTM Mary Tyler Moore (actress) MTM Made to Measure MTM Motoren-Technik-Mayer MTM Methods Time Measurement ) programs, utilization management Utilization management is the evaluation of the appropriateness, medical need and efficiency of health care services procedures and facilities according to established criteria or guidelines and under the provisions of an applicable health benefits plan. , disease management, and benefit design modeling. "Catalyst Rx is a dynamic company, always reaching for the next tool that will propel them in meeting the needs of this very complex marketplace, as evidenced by their early adoption of MedInitiatives' technology in 2001, as well as its newly released solutions," said Matt Simas, MedInitiatives president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Like all of MedInitiatives' solutions, iCalculate will enhance efficiency in the delivery of their PBM services, empowering business users to optimize the return on investments for clients and their programs." About MedInitiatives MedInitiatives provides decision support solutions designed to improve clinical and financial outcomes for health care organizations. MedInitiatives' customized business tools integrate and analyze pharmaceutical and medical data, allowing clients to gain insight, drill into details, make decisions and take action. MedInitiatives' technology enables users to optimize finances, examine trends, identify inappropriate prescribing, manage patients, improve therapies and more. Founded in 2000, MedInitiatives was named the #1 Fastest Growing Company in the Sacramento region by the Sacramento Business Journal in 2004, maintaining a position in the Top 10 for 2005. Today, MedInitiatives' technology is used by health care companies managing more than 83 million lives and more than $25 billion in health care expenditures. MedInitiatives is headquartered near Sacramento, CA. For more information, visit www.medinitiatives.com. About HealthExtras HealthExtras, Inc. is a full-service pharmacy management company. Its clients include self-insured employers, including state and local governments, third-party administrators, managed care organizations and individuals. The Company's integrated pharmacy benefit management services marketed under the name Catalyst Rx include: claims processing, benefit design consultation, drug utilization review drug utilization review Health insurance A study of drug prescriptions to evaluate appropriateness and cost-effectiveness of drug therapy , 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, drug data analysis services and mail order services. Additionally, the Company operates a national retail pharmacy network with over 55,000 participating pharmacies. For more information, visit www.catalystrx.com. This press release may contain forward-looking information. The 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. are made pursuant to 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. provisions of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in HealthExtras' filings with the Securities and Exchange Commission. |
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