AUSTIN, Texas, June 9, 2016 /PRNewswire/ -- Humco, Inc., a diversified global pharmaceutical company, announces a strategic partnership with PersonalMed, LLC’s billing and claims management platform, PAGO. Humco, by utilizing Pago and interested members of PersonalMed’s compounding network, has enabled qualified pharmacies to deliver innovative and cost conscious compounds to patients and payers. The partnership will aim to adopt a posture of seeking to provide value to payers, providers and patients by working to lower costs of compounded medications and healthcare to society.
“We are thrilled to launch this partnership with the Pago platform,” said Greg Pulido, Humco’s Chairman and CEO. “Humco and Pago have a keen awareness of the state of the industry and the past abuses committed within it. Together with Pago, we believe that we can create value for patients, pharmacies and payers. The partnership will bring Humco’s extensive pipeline of innovative, well-studied products in key therapeutic categories to the marketplace.”
“Payers are very focused on controlling the quality and cost of compound medications. Pago is focused on helping payers’ achieve this through its high performance billing and claims management platform,” said Ernie Rapp, President of PersonalMed, LLC. “This partnership with HUMCO is another signal to payers of PersonalMed, LLC’s commitment to bring solutions to help deliver affordable compounded medications to patients.”
As the cost of healthcare continues to rise, payers are increasingly looking for opportunities to reduce cost and improve patient outcomes. Humco is helping payers achieve this by investing in extensive research to provide pharmacies innovative solutions through a pipeline of products for further compounding use. For complete details on the Humco products please contact Bethany White at bwhite@humco.com or call (855) 925-4736.
ABOUT HUMCO
Humco, founded in 1872, is a diversified global pharmaceutical company. Humco is focused on developing, manufacturing and commercializing innovative pharmaceuticals and high-quality over-the-counter medicines for patients around the world.
With headquarters in Austin, TX, Humco serves over 45,000 pharmacies through its Pharmaceutical Segment and its Consumer OTC Products franchise. The Company is anchored by its leading non-sterile compounding delivery vehicles, including topical and transdermal creams and syrups and suspensions. Humco also serves consumers through its established and diverse Consumer OTC Products business of over 160 items with product placement in all major chains, grocery, mass retailers and independent pharmacies. Humco’s leading team of professionals have strong expertise ranging from product development to commercialization in the Company’s state-of-the-art FDA registered, cGMP compliant facilities.
With a presence in approximately 20 countries, Humco is committed to working with pharmacists, physicians, healthcare providers and patients to deliver innovative and meaningful treatments that help people around the world live longer, healthier lives.
For more information, visit Humco’s website at www.humco.com.
ABOUT PERSONALMED, LLC
PersonalMed, LLC provides services to third-party payers to manage and process claims for compounded medications through (i) its Preferred Provider Network and (ii) its Pago platform. The Preferred Provider Network is a high-performance network of compounding pharmacies that agree to comply with strict credentialing standards in addition to holding PCAB-Accreditation, a service of the Accreditation Commission for Health Care (ACHC). PersonalMed’s credentialing focuses on accreditation, legal compliance, clinical and quality standards, ownership, training, pricing, contract compliance and business practices. Pago is a cloud-based billing and claims management platform. For more information, visit PersonalMed’s website at www.personalmedrx.com.
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SOURCE Humco, Inc.
