Systemed named exclusive mail service provider for Blue Cross Blue Shield of Memphis; plans will be implemented starting in July 1995.TORRANCE, Calif.--(BUSINESS WIRE)--July 10, 1995--Systemed 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 :SYSM) Monday announced that they were selected as the exclusive mail service provider for 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 Memphis. Blue Cross Blue Shield of Memphis has approximately 250,000 lives covered nationally, with most members residing in the Southeast. "The discounts associated with mail service, combined with the convenience and reliability, makes mail service pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. benefits a must for our members. Mail service allows many patients to obtain maintenance medications at significant discounts," stated Bill Webb, executive vice president of External Affairs for Blue Cross Blue Shield of Memphis. Webb further stated, "That in looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a mail service provider able to meet the needs of members, Blue Cross Blue Shield of Memphis was looking for reliability, cost effectiveness and state-of-the-art clinical programs that could interface well with an existing retail network pharmacy program. "Systemed provided the qualities we were looking for and what our clients need and expect in a service vendor. In particular Systemed's aggressive Generic Substitution and Therapeutic Alternative Programs, operating for years in their mail service operations, provided a track record of savings and patient satisfaction." Blue Cross Blue Shield of Memphis will begin offering the Systemed mail service program to its clients effective July 1, 1995, although implementation of several groups has already begun. By year end, Blue Cross Blue Shield of Memphis' goal is, as a minimum, to offer the mail service option to the 75,000 lives which are currently enrolled in their managed pharmacy program. In commenting on the award, Sam Westover, president and chief executive officer of Systemed Inc., stated "We are pleased to have the opportunity to provide prescript on benefits to the members of Blue Cross Blue Shield of Memphis. This new contract demonstrates the confidence of the market place in Systemed's ability to administer drug benefits that effectively manage prescription drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, benefit costs." Systemed is an integrated full service prescription benefits manager for corporations, insurers and other benefit sponsors covering eight million beneficiaries nationwide. Systemed offers a variety of innovative managed care features to cost effectively manage the client's entire prescription drug benefit program, while achieving substantial savings for the client. Systemed's prescription benefit systems combine mail service pharmacy features such as therapeutic alternatives and generic substitution with the components of retail network pharmacy such as automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. claims adjunction Attachment or affixing to another. Something attached as a dependent or auxiliary part. Under the Civil Law system which prevails in much of Europe and Latin America, adjunction is the permanent union of a thing belonging to one person to something that belongs to someone , real time electronic administration of paper and card programs through contracted retail pharmacy networks. Systemed's retail pharmacy network includes sixty-one percent of the retail pharmacies This article is a list of major pharmacies (also known as chemists and drugstores) by country. Australia Pharmacies in Australia are mostly independently-owned by pharmacists, often operated as franchises of retail brands offered by the three major in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . CONTACT: Systemed, Torrance Kenneth J. Kay, 310/538-5300 |
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