Pittsburgh, PA (PRWEB) December 10, 2007
Acclamation Systems, Inc. (ASI) announced today a service alliance between one of their clients, Group Benefit Services (GBS) and Catalyst Rx, ASI's pharmacy benefit management (PBM) vendor for their LuminX Preferred Cost Containment service. GBS is one of the largest and most respected third-party administrators (TPAs) in the Mid-Atlantic region. They have selected Catalyst Rx as their PBM for a newly developed product offering.
"In considering PBM providers for our new product, Healthy Advantage, it made sense from an IT and systems efficiency standpoint to select one of ASI's LuminX Preferred Cost Containment vendors that shared our software compatibility," says Kathy Simmons, GBS CEO. "Catalyst Rx had all of the services we were looking for as well as implementation compatibilities."
"GBS introduced Healthy Advantage, a small group self-funded product especially designed for small businesses with as few as 10 employees up to 50 employees. The product combines the best features of a fully insured plan with guaranteed monthly/annual costs, but also provides the opportunity for additional savings based on actual claims utilization of the self-insured plan. The product's objective is to provide incentives to reduce costs, for both the employer and their employees. With this in mind, we selected Catalyst Rx because their 'Transparent Pass-Through Pricing' model will reduce our overall pharmacy costs for the Healthy Advantage program, allowing us to provide greater incentives to our clients. In addition, their claim interface with LuminX allows us to integrate our medical and pharmacy claim data for plan management and reporting efficiencies," says Simmons.
"Catalyst Rx is pleased to be ASI's LuminX Preferred Cost Containment PBM vendor because we realize the incredible value -- ultimately to the employer/employee customer -- of providing highly integrated, best-in-class cost containment services to TPAs, both in terms of increasing efficiencies and in decreasing overall health plan cost," says David Steigerwalt, Executive Director for Catalyst Rx. "We look forward to working with GBS under this new agreement."
"We developed LuminX Preferred to enable payors to leverage the benefits of multiple cost containment services integrated into one claims platform. With their breadth of coverage and their reputation for outstanding service, Catalyst Rx has been a great addition to an already strong line-up of first-class technology and service vendors," says Jim Senge, President, ASI.
About LuminX Preferred
LuminX Preferred is an end-to-end, integrated cost containment solution for Third Party Administrators (TPAs) that enables them to significantly impact their clients' health plan costs. Using it in conjunction with the LuminX claims processing system, administrators can realize measurable process efficiencies that may result in employer premium reductions.
Current LuminX Preferred providers include:
Claims adjudication (provided by LuminX)
Pharmacy Benefit Management
Bill Review and Audit
About Acclamation Systems, Inc.
Acclamation Systems, Inc. delivers integrated, flexible technology solutions for employee benefits management. Since its inception in 1989, ASI continues to provide some of the world's largest insurance carriers, third party administrators and self-administered organizations with the most comprehensive, powerful benefits administration system on the market today. ASI's flagship product, LuminX, is an end-to-end, automated system designed for organizations entrusted with the responsibility of administering health and other employee benefits. To complement the LuminX system, ASI offers robust Web tools, including online eligibility and enrollment, and comprehensive reporting; full accounting capabilities; integrated technologies; and outsourcing services to enhance their clients' productivity and profitability.
About Catalyst Rx
Founded in 1994, Catalyst Rx is the full service pharmacy benefit management subsidiary of HealthExtras, Inc. (NASDAQ:HLEX). Its clients include self-insured employers, including state and local governments, third-party administrators, managed care organizations, unions and individuals. In December 2005, HealthExtras acquired EBRX Inc., ASI's initial pharmacy benefit management partner for the LuminX Preferred Cost Containment solution. For more information, visit http://www.catalystrx.com
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