MILTON, ON, Nov. 30 /PRNewswire-FirstCall/ -- Systems Xcellence Inc., (“SXC”) (TSX: SXC) a leading provider of healthcare information technology solutions throughout the pharmaceutical supply chain, today announced that its wholly-owned U.S.-based subsidiary, SXC Health Solutions, has entered into a strategic partnership with Script Strategies, LLC, a pharmacy healthcare consulting company based in Cincinnati, Ohio.
To better serve the emerging market demand for pharmaceutical pricing and operational transparency within the managed care marketplace, SXC Health Solutions has engaged Script Strategies to establish performance-based pharmaceutical manufacturer contracts for SXC customers that seek a balanced portfolio of “best-in-class” drug therapies. This arrangement is consistent with SXC’s stated objective to continue the development of its InformedRx suite of services for its private label PBM (pharmacy benefit manager) customers, as well as an alternative solution to the full service PBM offering in the Managed Care Organization (MCO) market.
“This approach offers control of the formulary decision process as well as balance between cost control concerns and appropriate therapy specific to our customers in their markets,” said Gordon S. Glenn, President and CEO of SXC.
SXC will process over 110 million adjudicated claims at its ASP (Application Service Provider) data center this year. The new manufacturer contracting service will be offered to prospects and new customers, as well as SXC’s existing customers who currently use an alternative provider for this type of service, and as a result, its launch is expected to drive additional transaction volume through the Company’s data center in 2005 and beyond.
SXC will continue to announce new offerings to round out the suite of transparent-pricing services that the company launched as “InformedRx” early in 2004.
About InformedRx
InformedRx is a broad suite of a la carte pharmacy benefit administrative services that provide a flexible and cost-effective alternative to traditional pharmacy benefit management offerings typically employed by managed care organizations. InformedRx is built around SXC’s industry leading pharmacy claims processing system, RxCLAIM(R) and features pricing on a fee-for-service basis. RxCLAIM is a transaction processing system designed to provide instant on-line adjudication of third party prescription drug claims at the point of service, including trouble-free claims management and cost-effective review, as well as payment and billing support and real-time functionality for updating benefit, price, member, provider and drug details.
About Script Strategies, LLC
Script Strategies, LLC is a pharmacy healthcare consulting company based in Cincinnati, Ohio. Script Strategies offers a range of services including expertise in: pharmaceutical rebate contracting and management; formularies and preferred drug list development and management; clinical services including prior authorization, step therapy, drug utilization review, and specialty pharmaceutical programs; pharmacy audit programs and MAC list development, software and database development; pharmacoeconomic modeling and financial review; strategy development; marketing and marketing research; and e-commerce. Script Strategies can be found on the Internet at http://www.script-strategies.com/.
About Systems Xcellence Inc.
Systems Xcellence (SXC) is headquartered in Milton, Ontario with offices and processing centres in Lombard, Illinois, Scottsdale, Arizona and Victoria, British Columbia. SXC is a leading provider of healthcare information technology solutions and services to the healthcare benefits management industry. The company’s product offerings and solutions combine a wide range of software applications, application service provider (ASP) processing services and professional services, designed for many of the largest organizations in the pharmaceutical supply chain, such as pharmacy benefit managers, managed care organizations, retail pharmacy chains and other healthcare intermediaries. SXC can be found on the Internet at http://www.sxc.com/.
This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s Annual Information Form.
Systems Xcellence
CONTACT: Dave Mason, Investor Relations, The Equicom Group Inc.,(416) 815-0700 ext. 237, dmason@equicomgroup.com; Irwin Studen, ChiefFinancial Officer, Systems Xcellence Inc., Tel: (905) 876-4741,investors@sxc.com