July 29, 2008
Prescription Solutions and Partners Rx Enter Strategic Relationship
Prescription Solutions, a UnitedHealth Group (NYSE:UNH) company and leading pharmacy benefits management (PBM) company, today announced a strategic relationship with Partners Rx Management LLC (PRx) effective August 1, to provide a package of prescription benefits management services for Partners Rx Management's clients, supporting more than $300 million of annual drug spend.
"Prescription Solutions shares our commitment to full transparency and disclosure, as well as to delivering the lowest net cost to customers," said Matthew P. Ward, chief marketing officer for Partners Rx Management. "We selected Prescription Solutions as our strategic partner because of the strength of its service offerings, fully integrated management systems that ensure best possible clinical outcomes, and their collaborative and innovative client and member programs. We're looking forward to a long and mutually beneficial relationship."
The two companies will collaborate closely to deliver total patient care for clients and their members, with a focus on the self-funded marketplace through third party administrators, and mid-sized health plans including Medicare Part D, Medicaid, and commercial plans.
Under the agreement, PRx will utilize Prescription Solutions' scale to deliver competitive mail service pharmacy, specialty pharmacy, retail networks, and rebates, to accompany PRx's Lowest Total Cost formulary management, proactive customer service and unique client partnership business model.
"We appreciate the trust and confidence that Partners Rx has placed in Prescription Solutions," said Ed Feaver, president of Prescription Solutions. "This relationship will allow both companies to grow together, empowering clients and helping members use their drug benefit safely and effectively to live healthier lives."
About Partners Rx Management, LLC
Partners Rx Management, LLC is a privately held pharmacy benefit management company managing benefits for third party administrators, self-funded employers and mid-size health plans including Medicare Part D, Medicaid, and commercial plans. Partners Rx is dedicated to delivering a lower cost solution to its clients and has developed unique tools to analyze pharmacy costs. These include the trademarked Claims Replay process which compares incumbent PBM data to PRx data for the same time period and benefit design. A leading international actuarial firm has reviewed this process and concurs that it is a more accurate way to measure true Rx costs.
Partners Rx offers a unique partnership business model to qualifying clients. This partnership offering brings clients into the PBM business with Partners Rx giving them access to financial information, a share in revenues and the ability to build value in Partners Rx.
Partners Rx Management, LLC is a member company of Diversified Health Care Services, Inc. (DHS), Phoenix, AZ, which also includes ARG National (ARGN), a resource company for agencies; and Analytic Intelligence (AI) a prescription drug analytics and reporting service company. For additional information on Partners Rx, visit www.partnersrx.com.
About Prescription Solutions
Prescription Solutions is an innovative pharmacy benefit management company managing the prescription drug benefit of commercial, Medicare and other governmental health plans, as well as those of employers and unions. A UnitedHealth Group company, Prescription Solutions serves members through a national network of 60,000 community pharmacies and state-of-the-art mail service pharmacies in Carlsbad, California, and Overland Park, Kansas, which have both earned the prestigious Verified Internet Pharmacy Practice Sites(TM) (VIPPS(R)) accreditation by the National Association of Boards of Pharmacy(R) (NABP(R)). The company was recently named by WilsonRx(R) as the #1 National Top-Tier PBM, and #1 National Mail Order Pharmacy for customer satisfaction two years in a row. Prescription Solutions also won URAC's 2008 Best Practices for Consumer Empowerment and Protection Award in the PBM category. Additional information can be found at www.rxsolutions.com.
About UnitedHealth Group
UnitedHealth Group (NYSE: UNH) is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through seven operating businesses: UnitedHealthcare, Ovations, AmeriChoice, OptumHealth, Ingenix, and Prescription Solutions. Through its family of businesses, UnitedHealth Group serves more than 70 million individuals nationwide.