BUSINESS INSURANCE DIRECTORY OF PRESCRIPTION BENEFIT MANAGERS: UPosted On: Aug. 2, 1998 12:00 AM CST
7227 N. 16 St., Suite 160, Phoenix, Ariz. 85020; 602-678-1179; fax: 602-678-0772
Total gross revenues$8,000,000
PBM gross revenues$100,000
Employer/group plans with direct service10
Through third-party vendors75%
Percent of prescription volume10%
Percent of prescription volume70%
Includes: 2 registered pharmacists
PBM services since: 1989.
Parent: American Associated Druggists; primary business: independent pharmacy cooperative.
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: Restricted/customized.
Pharmacies contracted: Independently owned; retail chains.
Reports provided: Physician prescribing patterns, generic vs. name brands dispensed analysis, utilization review by therapy class, top drugs by dollar volume/number of prescriptions.
Service area: Nationwide.
Billing methods: Fee per claim. Volume discounts to employers.
Officers: Michael Huston, CEO; Elizabeth Schrader, vp-finance/operations; Bruce Semingson, vp-managed care sales; Frank Taylor, vp-marketing.
Contact: Bruce Semingson.