SAN DIEGO--(BUSINESS WIRE)--April 16, 2004--MedImpact Healthcare Systems Inc. (MedImpact), one of the nation's leading pharmacy benefit managers, today announced that the Center for Medicare & Medicaid Services (CMS) has endorsed the company's drug discount card (DDC) program.
"Prescription drug discounts are a major concern for this nation's seniors and disabled individuals," said Stan Hutchinson, president/COO of MedImpact. "We look forward to the opportunity to provide real solutions and convenient access to affordable prescription drugs for the nation's Medicare beneficiaries."
MedImpact has branded their national drug discount card program MedCare USA(TM). The program was developed to provide financial savings to individuals who do not have adequate prescription drug insurance coverage. MedCare USA(TM) gives immediate relief to individuals covered under Medicare to help reduce their current costs for prescription drugs before the new Part D Medicare drug benefit implementation in January 2006.
"MedImpact has been diligently working with current managed care clients and retail pharmacy partners to distribute the information regarding the MedCare USA(TM) card in preparation of its May 2004 launch date while preparing for the 2006 Medicare legislation," said Hutchinson. "We believe this partner-oriented approach will reach the Medicare beneficiaries in an accelerated manner."
MedImpact's approach to making prescription drug discount cards accessible to beneficiaries includes partnering with major managed care organizations such as Kaiser Permanente-California, Health Net of Arizona, UHP Healthcare of California, and Welborn Health Plan of Indiana. Additionally, MedImpact is working in collaboration with several major retail pharmacy partners.
"When Medicare beneficiaries have questions concerning this new program, it is likely that they will enlist the assistance of their local pharmacist, who they have trusted for years," said Hutchinson. "So, it's natural for us to partner with retail pharmacists who interact with a large segment of the Medicare population so we can readily provide the information and materials needed to enroll in MedCare USA(TM) and begin saving money."
Hutchinson also explained, "The patient/pharmacist interaction has been fundamental to MedImpact's business model since 1989. We continue to encourage it for Medicare beneficiaries by including our Choice90 program, which allows Medicare beneficiaries to fill 90-day prescriptions at deeply discounted rates at their community pharmacy, instead of requiring them to use a mail service distribution center as other programs do."
The new CMS program launches in May 2004 and promises significant savings for Medicare beneficiaries who will then have the opportunity to enroll in a Medicare-approved prescription Drug Discount Card program. In June, beneficiaries will be able to use their Drug Discount Cards to access discounts off the regular cash price of prescription drugs. Additionally, Medicare will provide a $600 credit in 2004 and up to an additional $600 credit in 2005 to Medicare beneficiaries whose incomes are not more than 100% of the Federal poverty level. In addition, Medicare will pay the $30 enrollment fee for qualifying beneficiaries.
About CMS
CMS, the Centers for Medicare & Medicaid Services, is dedicated to serving Medicare and Medicaid beneficiaries. CMS is organized around three centers to clearly reflect the agency's major lines of business: traditional fee-for-service Medicare, Medicare+Choice and state-administered programs, such as Medicaid and the State Health Insurance Assistance Program (SHIP).
About MedImpact
Located in San Diego, MedImpact Healthcare Systems Inc. provides pharmacy benefit management (PBM) services to leading managed care organizations, Medicaid and Medicare programs, as well as self-funded employer groups. From prescription claims processing to innovative software tools, MedImpact is a leader in full-service pharmaceutical and technology solutions, increasing value across the health care continuum.
Contacts
MedImpact Healthcare Systems Inc., San Diego Caila Coughlin, 858-790-6360 or
Julie Hughes, 858-790-6441