Navigation Links
New Jersey Hospital Association Prescription Program Outpaces Industry
Date:2/18/2008

PRINCETON, N.J., Feb. 18 /PRNewswire/ -- ARMSRx (Administered Risk Management Services Rx), Pharmacy Benefit Consultants, the health care industry's leader in transparent pharmacy benefits negotiation and assessment, has performed an annual audit and review for The New Jersey Hospital Association's (NJHA) Employee Benefit Prescription Program. ARMSRx represents the association, its member hospitals, third party administrators and employers participating in its PBM program.

The Audit findings indicate that the New Jersey Hospital Association's 2007 Per Member per Month cost increased by only 2.6% over the entire book of business. The major PBMs in the marketplace are seeing increases of 6% plus. Even though the majority of NJHA employers do not employ mandatory generic programs, the overall generic fill rate was up from 51.1% to 55.7%. The most impressive discovery is that over 25% of the active 2006 & 2007 clients have negative trends!

Jennifer Kingsley Wilson, CEO of ARMSRx, values NJHA's aggressive stance on transparency and reducing the Rx costs through creative contractual structuring and not necessarily increasing the employee cost share outlandishly driven by consumerism. "Our clients are pleased to find ways to reduce costs without having to upset the employees that need the Rx benefit the most with the ever so popular cost shift."

The NJHA program offers leverage, aggressive pricing, stringent performance guarantees and formulary alignment that far exceed programs currently offered in the marketplace. Originally developed for the NJHA member hospitals, the program has evolved to include non-hospital employers due to broker and consultant demand to place other clients on this well received "New Generation of Pharmacy Benefit" program.

William Kennedy, Sr. Vice President, NJHA Corporate Services states, "Our members appreciate that NJHA has been able to leverage their purchasing arrangements to reduce costs without compromising service or passing along additional charges to their valued employees."

For questions and answers regarding access to the program or to receive a complimentary savings analysis, contact Jennifer Kingsley-Wilson at Jennifer@ARMSRx.com or 1.800.578.9714.

About ARMSRx

ARMSRx is a pharmacy benefit consulting firm (not a pharmacy benefit manager) that specializes in saving payors money on their pharmacy expenditures. Most prescription benefit programs are based on financial arrangements that are complex, hidden and highly profitable to the Pharmacy Benefit Managers (PBMs). Our client's Association program has saved employers on the Rx costs 100% of the time. Our vested interest is to the payors and our mission is to align the PBM's business objectives with the payors' benefit goals. ARMSRx delivers intellectual capital.

About NJHA

Headquartered in Princeton, N.J., the New Jersey Hospital Association (http://www.njha.com) supports its 112 member hospitals through advocacy, education, data resources, and other services so they can continue their mission of providing affordable, accessible, and quality healthcare. Dedicated to quality improvements, NJHA has collaborated with federal and state governments, physician groups, consultants and others to address healthcare quality concerns. Additional efforts in the quality arena include continuing education, ongoing efforts in data collection, and benchmarking and the formation of a Quality Institute to continue developing member resources in quality improvement. Through its subsidiary, NJHA Corporate Services, NJHA makes a comprehensive portfolio of high-value programs and services available to its members and other eligible organizations.


'/>"/>
SOURCE ARMSRx
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Brandywine Senior Living Completes Acquisition of Four Assisted Living Communities in New Jersey
2. United States Joins False Claims Act Cases Against Three New Jersey Hospitals
3. QMed, Inc. Announces the Termination of Its New Jersey Special Needs Plan
4. AHF Says Op-Out Clause is Crucial to New Jersey Law Requiring HIV Testing of Pregnant Women
5. New Bayer, United Nations Partnership Brings International Environment and Art Competition to Northern New Jersey Elementary and Middle Schools
6. New Jersey Hospitals Post Razor Thin 0.6 Percent Operating Margin for 2006, Down 1 Percent from 2005
7. Keisha Orr of Edgewater Park, New Jersey is Named Philadelphias 2007 Local Loser
8. Distinctive Art Auction Supports American Red Cross of Central New Jersey
9. New Poll Finds Nearly Seven in 10 New Jersey Voters Support Smoke-Free Casinos
10. FDA Inspects Hoviones Technology Transfer Center in New Jersey
11. New Jersey Entrepreneur Turns a Page for Four National Charities
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... , ... Conventional wisdom preaches the benefits of moderation, whether it’s a matter ... bar too high can result in disappointment, perhaps even self-loathing. However, those who set ... , Research from PsychTests.com reveals that behind the tendency to set low ...
(Date:6/24/2016)... ... , ... Marcy was in a crisis. Her son James, eight, was out of control. Prone ... physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. “If ... at my other children and say he was going to kill them. If we ...
(Date:6/24/2016)... ... , ... Comfort Keepers® of San Diego, CA is excited to announce they ... to drive cancer patients to and from their cancer treatments. Comfort Keepers provides ... life and ongoing independence. Getting to and from medical treatments is one of ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Haute ... Dr. Barry M. Weintraub as a prominent plastic surgeon and the network’s newest ... world, and the most handsome men, look naturally attractive. Plastic surgery should be ...
(Date:6/24/2016)... ... June 24, 2016 , ... Venture Construction Group (VCG) ... held on June 20th at the Woodmont Country Club at 1201 Rockville Pike, Rockville, ... dedicated to helping service members that have been wounded in battle and their families. ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... 2016 According to a new ... Pen Needles, Safety Pen Needles), Needle Length (4mm, 5mm, ... Mode of Purchase (Retail, Non-Retail) - Trends & Global ... the market for the forecast period of 2016 to ... Billion by 2021 from USD 1.65 Billion in 2016, ...
(Date:6/23/2016)... , June 23, 2016 Research ... Devices Global Market - Forecast to 2022" report to ... the treatment method for the patients with kidney failure, it ... excess fluid from the patient,s blood and thus the treatment ... potassium and chloride in balance. Increasing number ...
(Date:6/23/2016)... , June 23, 2016 Research and ... Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data derived ... Assessment of major trends with potential impact on the market ... of market segmentation which comprises of sub markets, regional and ...
Breaking Medicine Technology: