SCRIP PHARMACY SOLUTIONS MANAGES PRESCRIPTION COSTS AND MANAGES DRUG SAFETY USING HYPERION'S BUSINESS ANALYSIS SOFTWARE.
SUNNYVALE, Calif.--(BW HealthWire)--Nov. 7, 2000
Hyperion Essbase Powers Web-Enabled B2B Clinical
Management Analysis System Helping 100,000 Doctors
and Drug Providers Manage Healthcare Risk
Hyperion (Nasdaq:HYSL), a leader in business analysis software, today announced that Scrip Pharmacy Solutions, a prescription benefits management (PBM) company, is crediting Hyperion Essbase for driving a B2B clinical management analysis system that is helping drug providers price medications competitively, and helping doctors monitor patients' prescriptions and drug interactions.
Scrip's enterprise-wide clinical management system is comprised of 40 business analysis applications powered by the market-leading Hyperion Essbase, and complemented by Painted Word's Essbase-Ready Mocha Blend Java-based development kit. Thousands of individual prescription drug providers access Hyperion Essbase over Scrip Pharmacy Solutions' Web site to track and analyze hundreds of thousands of detailed prescription records from 100,000 doctors prescribing 15,000 different medications -- all within hours of the date filled.
The results are dramatic. The Hyperion-based business analysis applications allow Scrip users to apply sophisticated analysis to determine how fast-rising prescription-related healthcare costs affect their businesses. The insights they uncover using Hyperion Essbase are helping to reduce their audit and intercept workload, allowing medical managers to better enhance patient compliance with drug regimens, identify abusers of prescription drug plans and enforce guidelines.
"Hyperion's products have dramatically improved the way Scrip analyzes and runs its business," said Russ Corvese, CIO of Scrip Pharmacy Solutions." Now, with our business analysis platform running on Hyperion, we are truly operating as an e-business. We are uncovering valuable insights into our customer and supplier relationships and have real-time access to our financial information over the Web. More importantly, we are even applying business analysis to life-saving tasks, such as discovering pregnant women who are taking drugs that could be dangerous to themselves and their babies. Through our partnership with Hyperion, we are keeping our customers healthy."
Prior to implementing Hyperion Essbase and Mocha Blend, Scrip was unable to report on its financial performance until 45 days after the month-end close, and the complex reporting system required Scrip to distribute 600 page hard-copy reports to its network of drug providers each month, reports that contained information that was important, but static and difficult to decipher. Now month-end closes take ten days.
Today, via Scrip's Web-enabled, dial-up service, drug providers have up-to-the minute information on prescriptions and the ability to analyze data across "dimensions" such as doctor, pharmacy, medication, drug manufacturer, patient age, gender, drug sensitivities, eligibility for plan membership, number of prescriptions, cost of prescriptions, region, brand, and much more.
Scrip's users access Painted Word's custom Web interface to drill down from details in Hyperion Essbase to transactional data for each claim stored in an Oracle relational data warehouse. With Hyperion Essbase and Mocha Blend, users can typically get answers to their queries in a few seconds, allowing them to quickly process customer requests for ad hoc reports. More information on Painted Word's Mocha Blend is available at www.paintedword.com.
About Scrip Pharmacy Solutions
Scrip Pharmacy Solutions services approximately 1.9 million pharmacy plan members, and 127 plan sponsor customers nationwide, including: health maintenance organizations; preferred provider organizations; third-party administrators; self-ensured employers; insurance companies; individual prescription drug plans; union trusts; Medicaid and Medicare programs; federal, state, county, and city agencies; and nursing homes and hospices. As an independent prescription benefits manager, the company is free from ownership tied to branded drug manufacturers or retail pharmacy chains. Scrip Corporate, Scrip Pharmacy Solutions' parent company, is a major force within the PBM industry, with 275 employees, included 33 licensed pharmacists, and revenue of just more than $451 million for the year ended December 31, 1998.
Hyperion (Nasdaq:HYSL) is a leader in business analysis software. Hyperion helps business leaders plan, manage and execute on strategies by analyzing information on e-business initiatives, supply chain execution, customers, operations and finance. The company's market-leading OLAP (online analytical processing) technology, packaged business analysis applications and tools are used by 6,000 organizations worldwide, including more than 60 of the Fortune 100 and more than 40 of the Financial Times European Top 100. In addition, 400 Hyperion alliance partners deliver technology, applications and services to increase the flexibility and choice for customers. Headquartered in Sunnyvale, California, the company has offices in 26 countries. More information is available at http://www.hyperion.com, firstname.lastname@example.org, or 1-800-286-8000.
Note to Editors: Hyperion and Essbase are registered trademarks and Hyperion Solutions and Hyperion Essbase are trademarks of Hyperion Solutions Corporation. All other trademarks and company names mentioned are the property of their respective owners.
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|Date:||Nov 7, 2000|
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