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Lowe's Leads First Wave of Companies Partnering With Express Scripts to Apply Behavioral Economics to Healthcare
Date:3/17/2009

Innovative Model Drives Millions of Dollars in Savings for Employers and Patients

ST. LOUIS, March 18 /PRNewswire-FirstCall/ -- Lowe's, the second-largest home improvement retailer in the world, is among more than two dozen companies on track to save millions in 2009 through a pilot program with pharmacy benefit manager Express Scripts (Nasdaq: ESRX). One of the first marketplace innovations to apply behavioral economics principles to enhance health care, the Select Home Delivery program provides direct savings to both companies and their employees by optimizing the use of home delivery for prescription medications.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080827/EXPRESSSCRIPTSLOGO)

Lowe's was one of the first companies to partner with Express Scripts on offering its associates Select Home Delivery, which does not require mandatory participation or alter copayments. Since Lowe's introduced the program, their employees' use of home delivery has more than doubled.

"Lowe's and our associates could share in millions of dollars of savings each year if we all switched our maintenance medications to home delivery," said Bob Ihrie, Lowe's senior vice president of employee rewards and services. "From behavioral economics, we now know that the small effort required to change behavior looms large psychologically, which causes people to procrastinate and put off decisions. By partnering with Express Scripts, we have been extremely effective in turning employee procrastination into an ally for desired behavior."

In the midst of growing economic challenges for consumers and businesses, the program has garnered strong interest and is being used by the first wave of companies, with many more preparin
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SOURCE Express Scripts, Inc.
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