Urick's team at FutureScripts manages prescription drug benefits with an annual drug spend of more than $1.3 billion. FutureScripts offers a full array of pharmacy management services, including formulary development and management, pharmaceutical contracting, specialty drug services, mail-order pharmacy, and claims processing.
FutureScripts began operations on October 1, 2006, handling the administration of prescription drug benefits for employer groups and health plans. Currently, FutureScripts provides its services to more than 1.3 million plan participants in the Philadelphia region, with plans to expand in the marketplace in the future. FutureScripts' key accounts include major school systems, corporations, and labor unions in Southeastern Pennsylvania. In its first year of business FutureScripts processed more than 15 million pharmacy claims.
To promote the increased use of generics, FutureScripts updates its formulary quarterly to ensure that as soon as patents expire on brand-name drugs, they are moved to third tier with the highest copay and the new generics are added to the formulary to the first tier with the lowest copay.
As part of the significant effort to raise awareness and use of generic drugs, FutureScripts managed one of the industry's most innovative pharmaceutical programs, Independence Blue Cross's No Pay Copay. This initiative waived copays for generic prescription drugs during 2007. No Pay Copay proved highly successful, with 87 percent of surveyed members reporting that they will continue to ask their doctors for generic prescriptions, and three-quarters reporting they believe generics are as safe and as effective as their brand-name counterparts.
Continuing to grow, FutureScripts has 115 business associates and
pharmacists on staff and is currently hiring for key talent positions. The
FutureScripts website in
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