Navigation Links
Medco Launches Medicare Part D Initiative to Promote ePrescribing
Date:2/12/2008

Medco's Medicare Plan is first PDP to conduct ePrescribing Pilot Study

FRANKLIN LAKES, N.J., Feb. 12 /PRNewswire-FirstCall/ -- As Congress considers a bill that would tie physicians' Medicare payments to their use of ePrescribing technology, Medco Health Solutions, Inc. (NYSE: MHS) today announced the launch of a national initiative to assist physicians of Medicare Part D patients in switching from hand-written to electronically generated prescriptions. The pilot program will also be used to study the impact of ePrescribing on patient safety, increased generic drug use and formulary compliance on the Medicare population.

"There is strong evidence that ePrescribing reduces medication errors and increases the use of generic drugs and other lower-cost medication options. We are proud that Medco will be the first Medicare prescription drug plan (PDP) to research its impact on the Medicare population," said John Driscoll, president of new markets at Medco. "The program is designed to overcome the cost barriers that have prevented widespread physician adoption of this technology and to verify the benefits of ePrescribing for Medicare Part D beneficiaries."

Initially the study will include 500 physicians currently treating enrollees in the Medco Medicare Prescription Plan(TM). Medco -- working with RxNT, a leading provider of ePrescribing technology - will provide these physicians with free RxNT ePrescribing software and training. Over a six- month period, the physicians' rate of generic drug dispensing, formulary compliance and generated safety alerts will be compared to a control group of 500 doctors who did not receive ePrescribing software or training. Ultimately, 2,000 doctors, primarily general practitioners and internists, will participate in the ePrescribing program.

Advantages of ePrescribing

The Centers for Medicare and Medicaid Services (CMS) estimates that nationally, use of e-Prescribing technology could eliminate as many as two million harmful drug events each year. The benefits of ePrescribing technology include reducing potentially harmful drug interactions by alerting physicians to possible risks and eliminating illegible physician hand-written prescriptions that can lead to medication dispensing errors. Additionally, ePrescribing has been shown to promote the use of generic drugs and increase formulary compliance, saving money for both patients and health plans. Despite these benefits, only about three percent of U.S. physicians actively use ePrescribing technology.

Medco Leads the Way on ePrescribing

This is Medco's second major ePrescribing effort. In 2005, Medco joined forces with the three largest U.S. auto companies - General Motors, Ford and Chrysler - to launch the Southeast Michigan ePrescribing Initiative (SEMI). Between 2005 and 2007, approximately 2,700 participating physicians have generated nearly 6.2 million prescriptions using ePrescribing technology. A recent analysis of SEMI found that ePrescribing substantially improved patient safety by alerting physicians of risks related to drug interactions and other potential medication errors and resulted in a significant number of prescription changes that prevented potential adverse events. Formulary compliance also improved. The review of 3.3 million electronic prescriptions showed:

-- A severe or moderate drug-to-drug alert was sent to physicians for more

than 1 million prescriptions (33 percent), resulting in nearly 423,000

(41 percent) of those prescriptions being changed or canceled by the

prescribing doctor;

-- More than 100,000 medication allergy alerts were presented, of which

more than 41,000 (41 percent) were acted upon; and

-- When a formulary alert was presented, 39 percent of the time the

physician changed the prescription to comply with formulary

requirements.

"The SEMI program results show that ePrescribing can have a big impact on patient safety and overall health care costs," continued Driscoll. "Medicare Part D provides the right opportunity to introduce many more physicians to ePrescribing, a key step toward improving patient safety for this critical segment of the population and reducing the cost of prescription health care in the Medicare program."

About Medco

Medco Health Solutions, Inc. (NYSE: MHS) is the nation's leading pharmacy benefit manager based on its 2006 total net revenues of more than $42 billion. Medco's prescription drug benefit programs, covering one in five Americans, are designed to drive down the cost of pharmacy health care for private and public employers, health plans, labor unions and government agencies of all sizes, and for individuals served by the Medicare Part D Prescription Drug Program. Medco, the world's most advanced pharmacy(TM) has created Therapeutic Resource Centers(TM) that are staffed with hundreds of specialist pharmacists trained and certified in specific chronic and complex conditions and have expertise in the medications that treat them. Medco is the nation's largest diabetes pharmacy care practice based on covered lives with the 2007 acquisition of the Liberty Medical, and the largest specialty pharmacy based on net revenues with the 2005 acquisition of Accredo Health, Incorporated. Medco is the highest-ranked independent pharmacy benefit manager on the 2007 Fortune 500 list. On the Net: http://www.medco.com.

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. We undertake no obligation to publicly update any forward- looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the risks and uncertainties that affect our business, particularly those mentioned in the Risk Factors section of the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.


'/>"/>
SOURCE Medco Health Solutions, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Medco Announces Date for Fourth-Quarter and Full-Year 2007 Financial Results
2. Medcos Specialized Pharmacists, Safety Programs Gain Therapy Management Accreditation
3. Medco CEO Reiterates Guidance, Positive Outlook for 2008
4. MedcomSoft Receives 2007s "Best in KLAS" EMR Ranking (1-5 Physicians)
5. MedcomSoft appoints former U.S. presidential health advisor, James Haveman, to health Care advisory board
6. URAC Names Medco as a Finalist in First-ever Best Practices in Consumer Empowerment and Protection Awards
7. Medco Announces Two-For-One Stock Split
8. Medco CEO to Present at the Merrill Lynch & Co., Inc. 2007 Health Services Investor Conference
9. Medco Elects Myrtle Potter, William Roper to Board of Directors
10. Medco to Build Worlds Largest, Most Advanced Automated Pharmacy in Central Indiana
11. Medco, LabCorp Strike Strategic Agreement for Research on Personalized Medicine and Pharmacogenomics
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... Lafayette, California (PRWEB) , ... ... ... a pioneer in the patient payment industry today announced its strategic partnership ... and health system workflows. , The two companies’ proven, proprietary technology combine ...
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating in cancer care, and ... in the eye of the beholder, according to experts who offered insights and commentary ... of Managed Care. For the full issue, click here . , For the ...
(Date:6/26/2016)... ... June 26, 2016 , ... PawPaws brand pet supplements ... was developed to enhance the health of felines. The formula is all-natural and is ... herbs in the PawPaws Cat Kidney Support Supplement Soft Chews are Astragalus ...
(Date:6/25/2016)... ... 2016 , ... Experts from the American Institutes for Research ... June 26-28, 2016, at the Hynes Convention Center in Boston. , AIR experts ... planning, healthcare costs and patient and family engagement. , AIR researchers will be ...
(Date:6/25/2016)... Viejo, California (PRWEB) , ... June 25, 2016 , ... ... to fit their specific project," said Christina Austin - CEO of Pixel Film Studios. ... fully customizable and all within Final Cut Pro X . Simply select a ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... N.J. , June 24, 2016  Collagen ... the design, development and manufacturing of collagen and ... regeneration announced today that Bill Messer ... and Marketing to further leverage the growing portfolio ... medical devices. Bill joins the Collagen ...
(Date:6/24/2016)... , June 24, 2016 The Academy of ... recommendations that would allow biopharmaceutical companies to ... entities that make formulary and coverage decisions, a move ... of new medicines. The recommendations address restrictions ... appear on the drug label, a prohibition that hinders ...
(Date:6/24/2016)... 24, 2016   Pulmatrix, Inc ., (NASDAQ: ... inhaled drugs, announced today that it was added to ... its comprehensive set of U.S. and global equity ... an important milestone for Pulmatrix," said Chief Executive Officer ... of our progress in developing drugs for crucial unmet ...
Breaking Medicine Technology: