Press Releases
Catalyst Rx Wins 2011 URAC Platinum Award For Best Practices In Health Care Consumer Empowerment And Protection
Stock quotes in this article:CHSI
Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of Catalyst Health Solutions, Inc. (NASDAQ: CHSI), today announced it has won the 2011 Platinum Award for Best Practices in Health Care Consumer Empowerment and Protection from URAC, the nation’s leading healthcare accreditation organization. Catalyst Rx was recognized for its Generic Advantage Plan, which empowers members with vital information on lower cost drug alternatives.
The Generic Advantage Plan combines innovative features and technology to maximize the use of the most clinically effective medications at the lowest net cost. The program deploys a series of customizable features, including targeted member and prescriber education initiatives, Catalyst's Formulary Advantage to enhance formulary compliance and increase generic utilization, and the Company's award-winning Catalyst Rx Price and Save SM drug pricing tool, which is now available via smartphone technology. Generic Advantage was developed after more than a year of consultation with pharmacy, behavioral psychology and technology experts with the goal of lowering costs while improving care. While there is strong consumer demand for knowledge, consumers typically lack sufficient information or cost data related to their health care benefits to make optimal purchase decisions. On average, Generic Advantage has decreased plan costs by 23% across targeted drug categories within the first 12 months of implementation. "Our Best Practices awards program is a unique celebration of innovative health care management programs. These organizations have implemented leading programs that have made a difference in the lives of the consumers they serve with demonstrable results that matter," said Alan P. Spielman, President and Chief Executive Officer of URAC. “This year's winners are recognized for their leadership in delivering on the promise of a quality health care system that puts consumers first.” "We are honored to have received URAC’s Platinum Award for Best Practices,” said David T. Blair, Chief Executive Officer of Catalyst. “Our clients have seen great success through our Generic Advantage Plan, reflecting our commitment to providing members with the tools they need to make informed decisions about their pharmacy benefits while lowering overall health care costs.” About URAC’s Best Practices in Health Care Awards The URAC Best Practices award winners are recognized for leadership in driving innovation for the health care industry. Entries were judged by a distinguished 20-member panel of prestigious, independent judges including recognized experts in program evaluation, care coordination, health information technology, employer and purchaser decision making and patient safety. Entries were reviewed and scored by the judges based on objective criteria including whether the program was measurable, if it was reproducible and delivered through a collaborative approach.TheStreet Premium Services
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