NovoLogix Launches First Annual Symposium for Healthcare Thoug...(ymposium we have an opportunity to reall...),Health

Date:10/29/2008

ymposium, we have an opportunity to really sharpen our focus on what it will take to effectively manage in the new world of medical pharmacy -- a world in which old technology no longer provides the tools we need, shifting sites of care are adding unexpected complexity to billing and reimbursement, and of the high-cost injectable and infusible drugs coming to market in the near term, nearly 70% will require assistance from a healthcare professional to ensure safe and proper administration. Working together I am confident we can develop creative and cost-effective solutions to meet the challenges ahead."

Note: Medical pharmacy is generally defined as prescription drugs administered in the home, outpatient clinic, or physician office and paid for under a beneficiary's medical benefit plan. Unlike prescription drugs filled at a retail pharmacy or administered in a hospital or other acute care setting and covered by a pharmacy benefit plan, this medical pharmacy segment of the overall healthcare space is often paper-based and extremely labor-intensive. And most importantly, it is plagued with significant inefficiencies that result in imprecise pricing, excessive reimbursements and overpayments, and insufficient prior authorization controls, and severely limits both government programs and commercial plans from participating fully in collecting drug manufacturers' rebates.

About NovoLogix

NovoLogix is a performance-based healthcare technology company delivering electronic claims re-pricing processes, prior authorization controls, and integrated patient care and pharmaceutical programs. Generating economic results for payers and their stakeholders and improving the management and delivery of drugs and services for healthcare consumers, Minneapolis-based NovoLogix covers millions of members for the nation's largest health plans, pharmacy benefits management companies (PBMS), and government programs. The company holds full accreditation by EHNAC. '/>"/>

SOURCE NovoLogix Copyright©2008 PR Newswire. All rights reserved

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