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Gorman Health Group and Zynchros Partner to Bring Clarity to Medicare Part D Formularies

Posted on: Monday, 16 October 2006, 18:01 CDT

WASHINGTON and SEATTLE, Oct. 16 /PRNewswire/ -- Gorman Health Group (GHG) and Zynchros, Inc. today announced a partnership designed to provide Health Insurance Companies and Pharmacy Benefit Managers (PBMs) with an end-to-end service for managing and implementing pharmacy strategies for Medicare Part D.

Targeted to Medicare Part D plan sponsors (PDPs or MA-PDPs), the alliance of GHG's consulting and educational services with Zynchros' automated formulary management solution, Zynchros.com, offers a structured method for implementing best practices in both medical efficacy and cost-control for Medicare Part D plans. While GHG will help plans to better define their pharmacy benefit program with respect to outcomes, cost and competitive differentiation, the Zynchros.com solution will reduce the effort and costs of successfully implementing the chosen strategy.

Charting a Course for Profitability in Part D Coverage

"Health insurers are facing a myriad of issues around pharmacy strategy and regulatory compliance in their Medicare Part D programs", said John Gorman, President and CEO of Gorman Health Group. "Through our partnership with Zynchros, we can offer health plans a more strategic approach to benefit planning and cost control -- an analytical and structured way of addressing pharmacy benefits while reducing the workload in regulatory compliance. GHG's partnership with Zynchros is a natural outgrowth of our consulting work on behalf of dozens of MA-PD and PDP sponsors each year"

"The entire industry -- Health Plans, PBMs, Retail Pharmacy, Long-term and Outpatient Care Providers -- has struggled with the implementation of Medicare Part D", said Bob Pinkerton, President of Zynchros. "By offering a complete solution to Formulary Management and Publishing, we can help to reduce costs and ensure that every participant is on the same page when it comes to senior benefits. Gorman Health Group has the experience and depth of domain expertise in the realities of Part D to help us deliver a winning solution for Payers."

According to Sonya Edwards, Clinical Pharmacist for Health Spring, "The Zynchros formulary application is very user friendly. Formulary updates that used to take hours, now take only a few minutes. Zynchros.com keeps track of your formulary so you won't have to. Your complete formulary information is right at your fingertips, along with CMS model formulary documents and formulary information for printed distribution from your marketing department. Zynchros.com makes extracting and printing formulary information, sending formulary files to CMS, and e-mailing your formulary a breeze."

The two companies plan to begin the cross-promotion of their services to each other's customers immediately. Future plans call for the enhancement of Zynchros' solutions to incorporate key elements of the GHG methodology and best practices.

Health Plans or PBMs seeking additional information should contact either Babette Edgar, Senior Vice President, Business Solutions Group, GHG at 202.364.8283, or Bob Stream, VP, Sales, Zynchros at 206.792.4107 or bob.stream@zynchros.com.

About Gorman Health Group

Recognized by Lehman Brothers as "the nation's leading consulting firm in Medicare Managed Care," Gorman Health Group, LLC (GHG) has been providing expert strategic, operational, financial, and clinical services to the healthcare industry since 1996. GHG's senior level consultants have more than 500 years of combined managed care business and federal healthcare regulatory experience. In addition to providing expert, highly-practical professional services and guidance to the managed care and pharmaceutical industries, GHG provides thought leadership: GHG's senior consultants are regularly quoted in the trade press and national media such as The New York Times and Wall Street Journal, and are often sought out by the investment community for their insights and analyses of the emerging Medicare managed care market. GHG consultants also speak at dozens of managed care and pharmaceutical industry conferences each year. GHG is based in Washington, D.C. -- where it has ready access to key federal contacts and timely legislative and regulatory developments -- and deploys a broad network of senior healthcare consultants nationally.

The company maintains a public website at http://www.gormanhealthgroup.com/. ABOUT ZYNCHROS(TM), INC.

Founded in 2000, privately-held Zynchros, Inc. (formerly Script IQ, Inc.) serves Health Insurers and PBMs with a family of web-based formulary solutions that provide a solid foundation for the development and implementation of our customers' unique formulary strategies. Zynchros.com is designed to reduce operational costs for formulary development and management; simplify Medicare Part D regulatory reporting; and electronically distribute formularies to all downstream recipients in their preferred format, all at the click of a mouse.

Headquartered in Seattle, WA, the company's solutions are used by many leading health insurance plans and PBMs to control pharmacy benefit costs, reduce workload and synchronize all things formulary from P&T review to the point-of-care. For more information, visit http://www.zynchros.com/ or call 1-866-996-2476.

Zynchros, Inc.

CONTACT: Carol Sardinha of Gorman Health Group, +1-202-364-8283, orcsardinha@gormanhealthgroup.com; or Mary Jochum of Zynchros, Inc.,+1-206-792-4106, or mary.jochum@zynchros.com

Web site: http://www.zynchros.com/

Source: PRNewswire

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