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FRANKLIN LAKES, N.J., July 1 /PRNewswire-FirstCall/ — The historic collaboration between retail pharmacies and pharmacy benefit managers — resulting in the merger of two complementary ePrescribing networks — will serve as a catalyst to fuel unprecedented growth in wiring the most-used benefit in America’s health care delivery system, Medco health Solutions, Inc. said in a statement today.
“Collaboration among retail pharmacies and pharmacy benefit managers in pursuit of patient safety and health care efficiency represents a breakthrough that will help to forge a new future in American pharmacy,” said John Driscoll, President, New Markets, Medco. “For patients, payors, pharmacists and physicians, ePrescribing will help to reduce prescribing errors and drug interactions and maximize the use of the most effective, lowest-cost therapies — speeding the prescribing and dispensing process, while removing costs from the health care system.”
RxHub, launched by a consortium of the nation’s leading pharmacy benefit managers and SureScripts, a system sponsored by retail pharmacies earlier today announced that they would merge their industry-leading systems in an effort to further the adoption and use of ePrescribing technologies.
“The unification of SureScripts and RxHub creates a single platform for nationwide adoption and broad use of safe and secure ePrescribing technologies at a time when Congress is considering financial incentives to doctors by increasing Medicare and Medicare reimbursement for prescriptions transmitted electronically,” said Driscoll.
Technologies such as ePrescribing are considered pivotal in addressing the estimated 1.5 million preventable medication errors each year in the United States that cost the health care system as much as $3.5 billion.
A pioneer in adapting innovative technologies to advance pharmacy care, Medco invented the world’s most advanced automated dispensing pharmacies, the largest Internet pharmacy and in 2001 served as a founding member of RxHub. More than 55 percent of mail electronic prescriptions in the industry were sent to Medco’s mail-order pharmacies during the first quarter of 2008. As a major customer of network services for e-prescribing, Medco strongly supports this transaction.
Since 2005, Medco has partnered with health plans and private employers in collaborative ePrescribing pilots such as the award winning project in Southeast Michigan. According to a recent survey of participating doctors:
– Three out of four prescribers believe strongly that ePrescribing improves safety for their patients.
– Nearly 70 percent of respondents say it improves the quality of care.
– More than 80 percent of all prescriptions written by those surveyed are currently written electronically; four of 10 practices now only write ePrescriptions.
– More than 70 percent saw a reduction in communications with pharmacies over prescription questions.
– More than half strongly agree that ePrescribing saves clinicians time and increases productivity.
About Medco
Medco health Solutions, Inc. is the nation’s leading pharmacy benefit manager based on its 2007 total net revenues of more than $44 billion. Medco’s prescription drug benefit programs, covering approximately one-in-five Americans, are designed to drive down the cost of pharmacy health care for private and public employers, health plans, labor unions and government agencies of all sizes, and for individuals served by the Medicare Part D Prescription Drug Program and those served by its specialty pharmacy segment, Accredo health Group. Medco, the world’s most advanced pharmacy(TM), is positioned to serve the unique needs of patients with chronic and complex conditions through its Medco Therapeutic Resource Centers(R), including its enhanced diabetes pharmacy care practice through the Liberty acquisition. Medco is the highest-ranked independent pharmacy benefit manager on the 2008 Fortune 100 list. On the Net: .
This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. We undertake no obligation to publicly update any forward- looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the risks and uncertainties that affect our business, particularly those mentioned in the Risk Factors section of the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.
Medco health Solutions, Inc.
