LISLE, IL, July 2 /PRNewswire-FirstCall/ - SXC Health Solutions Corp. ("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), a leading provider of technology and pharmacy benefits management services, announces a 36-month renewal agreement for its informedRx suite of services with The University of Michigan. Services to be provided under the renewal include: RxCLAIM(R) for on-line adjudication services of prescription drug claims, RxTRACK(R) for data warehouse access, benefit administration, pharmacy network management, rebate services and clinical prior authorization management.
"We are very pleased to extend our relationship with The University of Michigan and to continue to support their innovative programs centered on reducing their prescription drug expenditures and enhancing the quality of care for their plan members," said Mark Thierer, President and Chief Executive Officer at SXC.
"Our relationship with SXC has allowed The University of Michigan to effectively manage our pharmacy benefits by implementing a variety of programs in a very flexible manner - keeping the rate of increase of our drug costs well below the national average," stated Keith Bruhnsen, Assistant Director, Benefits at The University of Michigan. "Their ongoing commitment to timely and superior member service was also an important factor in our renewal."
informedRx(R) is a broad suite of a la carte pharmacy benefit services that provide a flexible and cost-effective alternative to traditional pharmacy benefit management offerings. informedRx is built around SXC's industry leading technology solutions including pharmacy claims processing and reporting, rebate billing system and near real-time alternative therapy messaging. All contracting is founded on a total transparency and pass-through model for manufacturer rebates, retail network contracting and MAC management. informedRx also provides clinical intervention programs and drug utilization reviews which feature a coordinated approach with plan sponsors allowing input and control for specific client and market situations. All programs are priced on a fee-for-service basis.
About SXC Health Solutions
SXC Health Solutions Corp. (SXC) is a leading provider of pharmacy benefits management (PBM) services and HealthCare IT (HCIT) solutions to the healthcare benefits management industry. The Company's HCIT Group is dedicated to supporting the PBM industry with a broad range of technology, tools and services including a wide range of software applications, application service provider (ASP) processing services and professional services. SXC's customers include the largest organizations in the pharmaceutical supply chain, such as Federal, provincial, and state and local governments, PBMs, managed care organizations, institutional pharmacies, and other healthcare intermediaries. SXC is headquartered in Lisle, Illinois with 13 locations in the US and Canada. For more information please visit http://www.sxc.com.
|SOURCE SXC Health Solutions Inc.|
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