Navigation Links
SXC Health Solutions announces three-year $35 million PBM contract with the State of Tennessee
Date:6/23/2008

LISLE, IL, June 23 /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 that its HealthCare Information Technology (HCIT) Group has been awarded a three-year $35 million Pharmacy Benefits Manager (PBM) contract with the State of Tennessee's, Bureau of TennCare ("TennCare").

Under terms of the proposed agreement, SXC will administer TennCare's pharmacy claims system, an online system that processes all Medicaid pharmacy transactions. SXC will also help administer TennCare's Preferred Drug List, manage their pharmacy network, provide pharmacists with weekly payments for their services, and generate weekly encounter data and reconciliation services for TennCare.

"We are very pleased to establish a relationship with TennCare and to be part of their efforts to deliver a high quality and cost effective healthcare experience to their plan recipients," said Mark Thierer, President and COO of SXC. "We continue to expand our footprint in the public sector where our fee-for-service business model, point-of-sale pharmacy claims adjudication and rebate systems, and Medicaid domain expertise is ideally suited to deliver the flexibility and transparency that State Medicaid agencies and other public sector organizations require."

"The contract resulting from this RFP process represents another step forward in appropriately aligning the incentives in our program," said TennCare Pharmacy Director David Beshara. "SXC has the tools, technology and expertise that will give us the ability to develop unique benefit programs, and to manage program costs without compromising our high service standards."

The base contract is for three years with an expected launch date of October 1, 2008, and includes two one-year extension options. Through its $650 million annual pharmacy program, TennCare fills about one million claims a month.

About TennCare

TennCare is Tennessee's managed-care Medicaid program serving approximately 1.2 million low-income children, pregnant women and disabled Tennesseans, with an annual budget of $7 billion.

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.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Penn study finds pro-death proteins required to regulate healthy immune function
2. UCLA researchers identify markers that may predict diabetes in still-healthy people
3. Air pollution linked to cardiovascular risk indices in healthy young adults
4. More proof needed of safety and quality of electronic personal health records
5. Health care incentive model offers collaborative approach
6. Loneliness is bad for your health
7. Mailman School of Public Health study examines link between racial discrimination and substance use
8. Green Tea May Brew Up Healthier Skin
9. For Health Info, Women Often Turn to the Web
10. Record Number of Americans Lack Health Insurance
11. U.S. Research Funding Continues to Flatten as U.S. Health Costs Climb - in August 31 Science
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2017)... ... May 24, 2017 , ... Adelberg-Montalvan Pediatric Dentistry ... for its patients on Long Island, New York. , Holistic dentistry puts ... is one of the biggest trends in dentistry today. , Dentist Dr. ...
(Date:5/24/2017)... Chicago, IL (PRWEB) , ... May 24, 2017 ... ... of the most prominent for-profit and nonprofit hospitals and health systems in the ... have turned around their institutions, led professional organizations and been instrumental in developing ...
(Date:5/24/2017)... ... May 24, 2017 , ... Technique, technique, technique – with ... either lifting weights for strength training and exercise or simply lifting heavy objects, advises ... “Body position is everything,” Dr. Chang says. “Improper technique in lifting anything heavy or ...
(Date:5/23/2017)... ... May 23, 2017 , ... MDLand International ... company, announced today that its iClinic V12.2 solution has achieved approval from National ... recently introduced PCMH 2017 standards which emphasize team-based care with a significant focus ...
(Date:5/23/2017)... ... May 23, 2017 , ... Allegheny Health Network and ... Joy D’Achille Center for Women’s Behavioral Health at West Penn Hospital , a ... for women suffering from pregnancy-related depression. Construction of the Center is underway with ...
Breaking Medicine News(10 mins):
(Date:5/10/2017)... 10, 2017 Radiology has become the number ... have also spiraled to the number one ranking as ... than ever before as the most complete and reliable ... with lower back pain an MRI may confirm a ... pain, resulting in entirely different treatment protocols.  In these ...
(Date:5/9/2017)... , May 9, 2017  Semler Scientific, Inc. ... technology solutions to improve the clinical effectiveness and ... for the first quarter ended March 31, 2017. ... enable our customers to identify when preventive care ... before events like heart attacks or strokes occur," ...
(Date:5/6/2017)... 5, 2017  Hill-Rom Holdings, Inc. (NYSE: HRC), has ... square feet to its Welch Allyn campus. ... to bring more than 100 new jobs to ... has maintained a significant presence for more than 100 ... positions, a large portion of which will be R&D ...
Breaking Medicine Technology: