Printer Friendly

CAREMARK APPOINTED PREFERRED PROVIDER FOR PRIVATE HEALTHCARE SYSTEMS

 Leading Prescription Drug Benefit Manager to Offer Mail
 Pharmacy Services to Three Million Members Nationwide
 NORTHBROOK, Ill., Sept. 15 /PRNewswire/ -- Caremark International (NYSE: CK) and Private Healthcare Systems Inc. (PHCS) today announced a three-year agreement in which Caremark's Prescription Service Division will be the nationwide preferred provider of mail service pharmacy for PHCS' Managed Pharmacy Program(sm).
 PHCS serves 3 million covered lives and expects approximately 1 million of these to be enrolled in the program within the next 18 months.
 Headquartered in Lexington, Mass., PHCS offers managed care products and services nationwide through a group of commercial insurance carriers. PHCS also contracts directly with large, self-insured organizations.
 Under the terms of the three-year contract, PHCS will include Caremark's mail service pharmacy as part of its Managed Pharmacy Program(sm). The Managed Pharmacy Program(sm) incorporates both a retail and mail pharmacy network with in-network benefit incentives. In addition, a formulary and drug utilization review program manages pharmaceutical use and costs while helping ensure that only the most appropriate and cost-effective drugs are prescribed for PHCS patients.
 According to Kris Gibney, Caremark's corporate vice president, Health Cost Management, the agreement represents an expansion of the health care services Caremark currently provides to PHCS. "As one of PHCS' providers of home intravenous therapy services, Caremark has demonstrated its ability to cost-effectively deliver health care. We look forward to serving PHCS and its members in the additional area of prescription drug benefit management."
 PHCS Chief Operating Officer Donna Goldin agreed that this new relationship
with Caremark is off to an excellent start. "We have worked successfully with Caremark on our case management programs, and therefore expect to build off of this existing relationship for our pharmacy program. We view Caremark as an important contributor in differentiating our Managed Pharmacy Program(sm) in an increasingly competitive marketplace."
 Caremark International Inc. is a leading provider of alternate site health care, marketing a broad range of therapies and services to patients, physicians, providers and payors, including as a partner in managed care delivery systems. The Prescription Service Division is one of the nation's leading providers of prescription drug benefit management programs and services to insurance companies, corporations, unions and government employee groups.
 -0- 9/15/93
 /CONTACT: Steve Mazur of Caremark, 708-559-4696/
 (CK)


CO: Caremark International; Private Healthcare Systems Inc. ST: Illinois, Massachusetts IN: HEA SU: CON

BN-BR -- AT006 -- 2157 09/15/93 10:43 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 15, 1993
Words:401
Previous Article:ULTRA CLEAN TECHNOLOGY WILL PARTICIPATE IN SEMICON/EAST FUTURETECH EXHIBIT
Next Article:VALASSIS COMMUNICATIONS CALLS COMPETITOR'S LAWSUIT 'FRIVOLOUS'; REINFORCES INTENTION TO CONTINUE AGGRESSIVE PROTECTION OF MARKET SHARE
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters