Printer Friendly


 AVON, Conn., Jan. 6 /PRNewswire/ -- Value Health (NYSE: VH) announced today that its subsidiary, ValueRx of Bloomfield Hills, Mich., has been selected by Ford Motor Company (NYSE: F) and the United Auto Workers (UAW), to be the administrator of a comprehensive nationwide retail and mail order drug benefits program for approximately 275,000 hourly workers, retirees and dependents enrolled in the traditional health insurance program, subject to completion of a multi-year contract. Value Health expects the agreement will produce about $90 million in annual revenues.
 ValueRx is currently administering prescription drug benefits for about 105,000 Ford/UAW people in Michigan, and was selected for this major program expansion pursuant to a national vendor competition. ValueRx expects to assume administration of the non-Michigan portion of the account on March 1, 1994 or as soon as possible thereafter. Value Health expects that mail service benefits will be provided by Health Care Services, Inc., a division of Diagnostek, Inc., through a subcontract with ValueRx.
 Robert E. Patricelli, Value Health's chairman and chief executive officer, said, "With our selection, Ford solidifies its position as our largest customer. Value Health has more than seven years of partnership with Ford and the UAW. We are pleased to build upon that relationship with a model prescription drug management program."
 According to Barry M. Smith, chairman and chief executive officer of ValueRx, "We will provide one of the most comprehensive, clinically based programs for the management of prescription drug benefits in the industry. The program will include a comprehensive formulary, on-line concurrent and retroactive drug utilization review to avoid drug-induced illness, and profiling of physician prescribing patterns."
 Value Health, Inc. is a leading provider of specialty managed care benefit programs and health care information services. Value Health's specialty managed care benefit programs are designed to enhance quality and control costs in selected health care sectors which are of particular concern due to their size, rapid cost escalation and potential for overutilization. These areas include prescription drugs, mental health and substance abuse, workers' compensation and foot care. Value Health's health care information services are based upon use of clinical and data analysis to guide health care decision making. These products include clinically based precertification and claims review, provider profiling, claims cost analysis, evaluation and management of health benefit providers, and health policy and management consulting. Value Health provides services to more than 33 million people and its customers include 50 of the nation's 250 largest corporations.
 -0- 1/6/94
 /CONTACT: Judy Hyfield-Starr of Value Health, 203-678-3472/
 (VH F)

CO: Value Health, Inc.; ValueRx; Ford Motor Company; United Auto
 Workers ST: Connecticut, Michigan IN: HEA AUT SU:

DJ-DD -- NE008 -- 9645 01/06/94 08:36 EST
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 6, 1994

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