BUSINESS INSURANCE DIRECTORY OF PRESCRIPTION BENEFIT MANAGERS: I

Immediate Pharmaceutical Services (IPS)
5540 Wallings Road, North Royalton, Ohio 44133; 800-233-3872; fax: 440-230-9011
www.IPSRX.com
1997 revenues
Total gross revenues$60,000,000
PBM gross revenues$1,000,000
PBM unbundled revenues$1,000,000
PBM clients
Total2,100
Lives covered
Group Health:
Total2,000,000
Active enrollees1,000,000
Through employers60%
Through third-party vendors40%
Workers Compensation:
Active enrollees5,000
Through employers30%
Retail network
Pharmacy locations52,000
Mail-order services
Percent of prescription volume15%
Generic usage
Percent of prescription volume49%
Staff
Total70
Professionals12
Includes: 6 registered pharmacists
PBM services since: 1987.
Parent: Discount Drug Mart; primary business: retail drug chain.
Services: Retail pharmacy network, mail-order distribution, claims processing*, online claims processing, concurrent utilization review, disease management, retrospective utilization review, benefit design consulting, formulary management/review, patient education.
Formularies offered: Open, closed, restricted/customized.
Pharmacies contracted: Independently owned; retail chains.
Reports provided: Physician prescribing patterns, generic vs. name brands dispensed analysis, employee utilization.
Service area: Nationwide.
Billing methods: Fee per claim. Volume discounts to employers.
Officers: Robert E. Marks, president; Doug Boodjeh, chairman; Tom McConnell, CFO; Jim Wallace, vp-sales; Cheryl Sforzo, director-administration.
Contact: Robert E. Marks or Jim Wallace.
* Subcontracted.
International Pharmacy Management Inc.
110 12th St. N., Birmingham, Ala. 35203; 800-476-3784; fax: 205-250-8037
http: www.ipmdrug.com
1997 revenues
Total gross revenues$5,000,000
PBM gross revenues$5,000,000
PBM unbundled revenues$5,000,000
PBM clients
Total64
Employer/group plans with direct service7
Lives covered
Group Health:
Total1,750,000
Active enrollees350,000
Through employers65%
Through third-party vendors35%
Workers Compensation:
Active enrollees250,000
Through employers100%
Retail network
Pharmacy locations50,000
Mail-order services
Percent of prescription volume12%
Generic usage
Percent of prescription volume43%
Staff
Total30
Professionals28
Includes: 2 registered pharmacists
PBM services since: 1995
Services: Retail pharmacy network, mail-order distribution, claims processing, online claims processing, concurrent utilization review, disease management, retrospective utilization review, benefit design consulting, formulary management/review, monitoring of physician prescribing practices, patient education.
Formularies offered: Open, closed, restricted/customized.
Pharmacies contracted: Independently owned; retail chains, including 137 locations nationwide.
Reports provided: Physician prescribing patterns, generic vs. name brands dispensed analysis, employee utilization; 20 standard reports available.
Service area: Gulf Coast, Midwest, Northeast, Southeast.
Billing methods: Capitated rate, fee per claim. Volume discounts to employers.
Officers: Mac Jones, chairman; David C. Bellin, president/CEO; Nick Black, vp-operations; David I. Beauchaine, vp-finance; Greg Stein, vp-sales/marketing.
Contact: Greg Stein.
INTEQ
5445 La Sierra Drive, Suite 400, Dallas, Texas 75231; 800-324-7799; fax: 214-739-7979
www.inteqrx.com
1997 revenues
PBM gross revenues$3,100,000
PBM clients
Total1,000
Employer/group plans with direct service250
Lives covered
Group Health:
Total1,300,000
Active enrollees1,100,000
Through employers30%
Through third-party vendors65%
Through Medicare/Medicaid5%
Workers Compensation:
Active enrollees100,000
Through employers40%
Retail network
Pharmacy locations43,000
Mail-order services
Percent of prescription volume14%
Generic usage
Percent of prescription volume43%
Staff
Total40
Professionals35
Includes: 3 registered pharmacists
PBM services since: 1993.
Services: Retail pharmacy network, mail-order distribution, claims processing, online claims processing, concurrent utilization review, disease management, retrospective utilization review, benefit design consulting, formulary management/review, monitoring of physician prescribing practices, patient education.
Formularies offered: Open, closed, restricted/customized.
Pharmacies contracted: Independently owned; retail chains.
Reports provided: Physician prescribing patterns, generic vs. name brands dispensed analysis, employee utilization.
Service area: Nationwide.
Billing methods: Capitated rate, fee per claim. Volume discounts to employers.
Officers: Andrew Fisk, president; Jerry Hosler, vp-finance/administration; John Teichgraeber, vp-sales/marketing; Patti Carr, vp-pharmacy operations.