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:10/13/2017)... ... October 13, 2017 , ... The American Board of Family ... next President and Chief Executive Officer, succeeding Dr. James C. Puffer upon his retirement. ... 1, 2018 until Dr. Puffer’s retirement at the end of 2018. Upon assuming the ...
(Date:10/13/2017)... ... 2017 , ... Lori R. Somekh, founder of the Law Office of ... elder law and special needs planning attorneys. “Membership in ElderCounsel helps our office remain ... to network with elder law attorneys nationwide,” said Somekh. , ElderCounsel ...
(Date:10/13/2017)... ... October 13, 2017 , ... Ellevate Network, the leading network for professional ... action towards gender equality at their inaugural Summit in New York City in June. ... a social audience of over 3 million. To watch the Mobilize Women video, ...
(Date:10/13/2017)... , ... October 13, 2017 , ... ... and Agile Software Development, has been awarded a contract by the Center for ... Agreement (BPA) aims to accelerate the enterprise use of Agile methodologies in a ...
(Date:10/12/2017)... ... October 12, 2017 , ... CitiDent ... sleep apnea using cutting-edge Oventus O2Vent technology. As many as 18 million ... by frequent cessation in breathing. Oral appliances can offer significant relief to about ...
Breaking Medicine News(10 mins):
(Date:9/28/2017)... -- Cohen Veterans Bioscience and Early Signal Foundation announce ... home sensors for real-time monitoring of patients with trauma-related ... organization focused on disruptive health solutions for rare disorders ... to record and integrate behavioral, cognitive, physiological and contextual ... ...
(Date:9/23/2017)... 2017 Janssen Biotech, Inc. (Janssen) announced today ... the U.S. Food and Drug Administration (FDA) for the ... the treatment of moderately to severely active rheumatoid arthritis ... are needed to further evaluate the safety of sirukumab ... "We are ...
(Date:9/18/2017)... KALAMAZOO, Mich. , Sept. 18, 2017 /PRNewswire/ ... and OptiMed Specialty Pharmacy of Kalamazoo, Mich. ... a strategic hub service that expedites and streamlines patient ... spirometer, Spiro PD 2.0, and wellness management services.  ... a medical device used to measure lung function for ...
Breaking Medicine Technology: