2010 Standards provide employers with the most rigorous level of drug purchasing transparency available in the marketplace
Irvine, Calif. – October 13, 2009 – Prescription Solutions, a leading pharmacy benefits management (PBM) organization and a UnitedHealth Group (NYSE: UNH) company, today announced that it received re-certification for Transparency in Pharmaceutical Purchasing Solutions (TIPPS) from the HR Policy Association (HR Policy) Pharmaceutical Coalition. TIPPS certification enables Prescription Solutions to offer PBM services to members of the Coalition, comprised of nearly 60 companies representing more than five million people and collective annual drug expenditures of approximately $5 billion.
HR Policy developed the TIPPS certification process to achieve a more cost-effective and transparent model for purchasing pharmaceutical benefits for employees, retirees and their dependents. Certification is bestowed only upon PBMs that are willing to meet the Coalition’s rigorous transparency standards and agree to provide Coalition members with audit rights to validate compliance. This simplifies the selection process for Coalition members because they can work with a pre-screened group of PBMs and be confident that these companies will adhere to high transparency standards.
“TIPPS certification underscores the commitment Prescription Solutions has made to transparency,” said Edward M. Feaver, Pharm.D, president of Prescription Solutions. “Relationships between clients and their PBM should not only be about pricing but also about managing drug utilization, improving health outcomes and delivering the optimum low net cost.
Achieving ‘best practices’ performance in these areas produces the greatest value for PBM sponsors and members and delivers on our commitment in providing affordable, quality and accessible health care.”
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 64,000 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™ (VIPPS®) accreditation by the National Association of Boards of Pharmacy® (NABP®). The company was recently named by WilsonRx® as the No. 1 National Top-Tier PBM, and No. 1 National Mail Order Pharmacy for customer satisfaction two years in a row. Prescription Solutions also won two Silver Awards for URAC’s Best Practices for Consumer Empowerment and Protection Awards – Geriatric RxMonitor program (2008) and the Drug Interaction Alert Program (2009). Additional information can be found at www.prescriptionsolutions.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.
About HR Policy Association
HR Policy Association brings together the chief human resource officers of more than 280 of the largest corporations in the United States who are concerned about the direction of HR public policy and practices in the United States and globally. Representing nearly every major industry, HR Policy members have a combined market capitalization of more than $7.5 trillion and employ more than 18 million employees worldwide. For more information visit www.hrpolicy.org.