PRIUM and Pharmaceutical Technologies Establish Next Generation PBM Strategic Partnership
PRIUM (www. prium. net) is pleased to announce a new strategic partnership with Pharmaceutical Technologies, Inc. (PTI) for the administration and network management of prescriptions for injured workers that will create the Next Generation of PBM.
Duluth, GA (PRWEB) January 8, 2010
PRIUM (www. prium. net) is pleased to announce a new strategic partnership with Pharmaceutical Technologies, Inc. (PTI) for the administration and network management of prescriptions for injured workers that will create the Next Generation of PBM.
Based in the Atlanta GA area and founded in 1987, PRIUM provides objective, peer-to-peer clinical consulting and medical services surrounding medical necessity, causality and appropriateness of care for injured workers. PRIUM is active in Workers’ Compensation, auto, general liability and personal injury protection (PIP) lines of insurance, offering clinical consulting and continuing education services throughout the United States.
PTI is an established company with significant experience since 1992 in the Pharmacy Benefits Management (PBM) processing arena. PTI has integrated itself into the POS of over 64,000 pharmacies nationwide, offers a 24x7 Call Center for support of those pharmacies, provides an overlay of services that ensure compliance with jurisdictional and best practice for medications, integrates a strong Mail Order process, and provides real-time access to transaction and insured data through their web portal.
Adding in PRIUM’s extensive Utilization Review/Management experience for a clinical overlay, the partnership of PRIUM and PTI creates the next generation PBM with a distinct advantage in the Workers’ Compensation marketplace.
According to Jim Pritchard, CEO of PRIUM, “This partnership with PTI allows us to leverage their extensive network and PBM experience while directly integrating our clinical overlay. The least expensive pill is the one you don’t pay for, and so our focus on ensuring the most appropriate medication regimen combined with economies of scale and process offered by PTI puts us ahead of the competition. These enhanced features and efficiencies, along with our extensive experience in Texas, positions us very well to handle the proposed Texas Closed Formulary (134.500) that will likely be rolled out in 2010.”
The transition by PRIUM to PTI has been underway over the past few months and is scheduled to be completed in January 2010. The transition process has been well planned and implemented in order to reduce any issues to PRIUM’s customers and injured workers and make the transition as seamless as possible.
In addition, a new Referral process and form (manual and electronic) will be rolled out in January 2010 to accelerate the process for moving injured workers into PRIUM’s PBM oversight.
Overall, this strategic partnership allows PRIUM a better method by which to support the anticipated growth in its PBM products and services in 2010. Better service, better access, better reports, better processing – all are direct benefits to PRIUM’s customers.
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