Printer Friendly

BLUE CROSS AND BLUE SHIELD WINS CONTRACT TO MANAGE NATION'S LARGEST RETAIL PHARMACY PROGRAM

 BLUE CROSS AND BLUE SHIELD WINS CONTRACT
 TO MANAGE NATION'S LARGEST RETAIL PHARMACY PROGRAM


BCBSM Teams Up With National Pharmacy Network Management Firm to Deliver
 Services to More Than Three Million Federal Workers
 ST. PAUL, Minn., July 15 /PRNewswire/ -- Blue Cross and Blue Shield of Minnesota (BCBSM) today announced that it has been selected from among the country's leading health care management firms to provide managed pharmaceutical services to more than three million workers covered under the federal government's health insurance plan.
 BCBSM was awarded the contract to provide services in cooperation with PCS, Inc., an Arizona-based pharmacy network management firm. Beginning January 1993, federal workers, retirees and their dependents enrolled in the Federal Employee Program (FEP) -- a national Blue Cross and Blue Shield-administered health plan -- will receive services through the program.
 Under the terms of the contract, PCS will operate a national preferred provider network of more than 21,000 pharmacies nationwide. BCBSM will provide program management services, including customer service functions, maintenance of the program's prescription drug formulary, management of the manufacturers' volume-rebate contracts and the administration of various drug utilization review services.
 The program will be the nation's largest retail pharmacy program. Over the next three years, the prescription drug purchases for covered individuals will exceed $1.2 billion per year, and the contract will generate $27 million in revenue for BCBSM and PCS. About 75 jobs will be created at BCBSM and more than 200 at PCS.
 "This arrangement is a winner both for federal employees and for our organizations," said Andy Czajkowski, BCBSM president and chief executive officer. "Prescription drug costs continue to rise rapidly. This partnership blends the strengths of PCS in pharmacy network management with BCBSM in innovative health care quality and cost management strategies."
 BCBSM and PCS were selected from among the country's leading health care management firms for their demonstrated efficiencies in providing consumers with high-quality, cost-effective drug therapies. The program represents a comprehensive approach to managing prescription drug benefits by combining a preferred pharmacy network, rebates from pharmaceutical manufacturers, drug utilization review and effective claims administration. More than $100 million in savings are anticipated from the program.
 "The selection of PCS to administer this new program affirms the company's position as the premier provider of managed prescription services," said Robert C. Johnson, PCS chairman and chief executive officer. PCS will administer a broad range of managed care measures to assure the delivery of quality, cost-effective pharmaceutical products and services. A major element of the program will be PCS's ability to use its on-line electronic network to provide prospective, point-of- service, and retrospective drug utilization review.
 Serving more than 1.7 million Minnesotans, BCBSM is the state's oldest and largest health coverage carrier. The company is recognized nationally for its innovations in the areas of managed care, product development and claims administration.
 -0- 7/15/92
 /CONTACT: Mark Heymans of BCBSM, 612-456-8786 or 1-800-382-2000, ext. 8786/ CO: Blue Cross and Blue Shield of Minnesota ST: Minnesota IN: INS SU: CON


KH -- MN019 -- 9757 07/15/92 17:22 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 15, 1992
Words:508
Previous Article:ORION PICTURES ANNOUNCES DELAY IN FILING ITS QUARTERLY REPORT ON FORM 10-Q
Next Article:INTEGON $75 MILLION SENIOR NOTES RATED 'BBB+' BY FITCH -- FITCH FINANCIAL WIRE --
Topics:


Related Articles
PCS SELECTED TO MANAGE BENEFITS FOR 3.1 MILLION MEMBERS
BLUE CROSS AND BLUE SHIELD AWARDED $1.7 MILLION CONTRACT TO PROCESS CLAIMS FOR BLUE CROSS AND BLUE SHIELD OF MAINE
Blue Cross and Blue Shield of South Carolina's Medigap Members Save Millions With Discount Drug Program.
Blue Cross and Blue Shield of South Carolina Awards Contract to AdvancePCS.
Option Care, Inc. Specialty Pharmacy Subsidiary, OptionMed, Signs a State Wide Contract with Blue Cross and Blue Shield of Florida.
Blue Cross Network Remains Strong with 49,695 Retail Pharmacies.
Michigan, Regence Blues Join Forces to Administer Pharmacy Functions.
Michigan, Regence Blues Join Forces to Administer Pharmacy Functions.
Michigan, Regence Blues Join Forces To Administer Pharmacy Functions.
WellPoint NextRx Announces New Agreement With Blue Cross of Idaho.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters