Colorado Springs Utilities Chooses HealthTrans to Manage Pharmacy Benefits Program.GREENWOOD Greenwood. 1 City (1990 pop. 26,265), Johnson co., central Ind.; settled 1822, inc. as a city 1960. A residential suburb of Indianapolis, Greenwood is in a retail shopping area. Manufactures include motor vehicle parts and metal products. VILLAGE, Colo. -- Colorado Springs Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. Utilities has contracted with HealthTrans, a national pharmacy benefits administrator, to provide pharmacy benefit services to their employees. The utility is using HealthTrans' value-based 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. , their pharmacy network, mail order and specialty pharmacy. The HealthTrans will provide services to more than 4,000 plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. . The value-based formulary ensures utilization of the most appropriate drugs at the lowest net cost. It is a process that requires a high level of ongoing due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. by HealthTrans' pharmacy and therapeutics Pharmacy and Therapeutics is a committee at a hospital or an insurance plan that meets to decide which drugs will appear on that entity's drug formulary. The committee usually consists of both doctors and pharmacists. (P&T) committee who responsible for monitoring and recommending the medications chosen for a value-based formulary. With 62,000 pharmacies in the HealthTrans network, Colorado Springs Utilities employees have access to selected pharmacies in Colorado Springs and the many communities in which they live, including Buena Vista, Canon City, Pueblo, Castle Rock and Denver. Colorado Springs Utilities is a four-service utility provider of electric, natural gas, water and wastewater to the City of Colorado Springs, and also provides electric and gas service to the surrounding areas within its certified See certification. service territory. About HealthTrans HealthTrans, a pharmacy benefits administrator, provides employers, third party administrators, brokers, consultants, managed care organizations (MCOs), and other payers with the tools and clinical expertise to more efficiently manage pharmacy benefit programs. HealthTrans' solutions use Web-enabled applications that provide clients with the increased flexibility to manage pharmacy network administration, benefits administration, claims processing, financial reporting, mail order/90 day at retail programs, as well as manufacturers' rebate processing and reporting. HealthTrans has always offered a transparent business model that aligns our goals with those of our clients through full-disclosure and a value-based formulary model that focuses on the lowest overall net drug spend to help them lower pharmacy costs. For more information about HealthTrans, visit its Web site at http://www.healthtrans.com. |
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