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News

UT selects SXC's informedRx to provide pharmacy benefit management services

SXC Health Solutions : 03 July, 2008  (Company News)
SXC Health Solutions has signed a five and a half year contract for its informedRx pharmacy benefit management (PBM) services with The University of Toledo (UT).
SXC will begin providing its services for more than 6,000 members of UT’s employee prescription benefit programme on July 1, 2008 and will expand its coverage to more than 13,000 covered lives on January 1, 2009.

“This is an important step forward for SXC, as it expands our presence into the self-insured employer market and provides us with an opportunity to showcase our full-service transparent PBM services with a University that includes an academic medical centre,' said Mark Thierer, president and chief executive officer at SXC. 'The collaboration of UT and SXC reinforces our ability to compete with the industry's largest PBMs and demonstrates our ability to reach a broad number of healthcare organizations with our flexible suite of technology and services.' UT will use informedRx to adjudicate prescription drug claims, manage reimbursement of retail pharmacy network contracts, analyse drug utilisation, manage rebate contracts with pharmaceutical manufacturers, and handle member and pharmacy help desk calls. UT will also utilise SXC’s adjudication platform to price and dispense ‘own use’ class of trade products from UT owned pharmacies.

“This collaboration will give us creative options to serve the various prescription drug benefit needs of our employees,” said Laura Miller, senior director of benefits at UT. “For example, the additional purchasing power of a larger operation combined with personalised University-quality care will enable our employees and their families to spend less money and less time buying the pharmaceuticals they need.”
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