Prescription Solutions Receives Third Consecutive TIPPS Re-Certification For Pharmacy Benefits Transparency Standards
- 2011 standards provide employers with the most rigorous level of drug purchasing transparency available in the marketplace
Prescription Solutions, a leading pharmacy benefit management (PBM) organization and a UnitedHealth Group (NYSE: UNH) company, today announced it received re-certification for the third consecutive year under the Transparency in Pharmaceutical Purchasing Solutions (TIPPS)SM initiative from the HR Policy Association (HR Policy) Pharmaceutical Coalition.
The Coalition is composed of nearly 60 association member companies representing more than five million people and collective annual drug expenditures of approximately $5 billion. TIPPS certification enables Prescription Solutions to offer PBM services to coalition members.
Edward M. Feaver, Pharm.D, president of Prescription Solutions said, “It is critically important for our PBM clients to have the greatest understanding possible about the pricing and value of the health benefits they provide in order to control costs for their companies and employees. We are grateful to have achieved TIPPS certification since it signals our longstanding commitment to transparency, through both our own business practices and our work with coalitions such as HR Policy.”
HR Policy developed the TIPPS certification process to achieve a more cost-effective and transparent model for purchasing pharmaceutical benefits for employees, retirees and their dependents. Certification is bestowed only upon PBMs that are willing to meet the Coalition’s rigorous transparency standards and agree to provide Coalition members with audit rights to validate compliance. This simplifies the selection process for Coalition members because they can work with a prescreened group of PBMs and be confident that these companies will adhere to high transparency standards.
About HR Policy Association
HR Policy Association is the lead organization representing chief human resource officers of major employers. The Association consists of more than 300 of the largest corporations doing business in the United States and globally, and these employers are represented in the organization by their most senior human resource executive. Collectively, their companies employ more than 18 million employees worldwide and have a combined market capitalization of more than $7.5 trillion. These senior corporate officers participate in the Association because of their passionate interest in the direction of human resource policy. Their objective is to use the combined power of the membership to act as a positive influence to improve public policy, the HR marketplace, and the human resource profession. For more information visit www.hrpolicy.org
About Prescription Solutions
Prescription Solutions is an innovative pharmacy benefit management company managing the prescription drug benefit of commercial, Medicare and other governmental health plans, as well as those of employers and unions. A UnitedHealth Group company, Prescription Solutions serves customers through a national network of 64,000 community pharmacies and state-of-the-art mail service pharmacies in Carlsbad, Calif., and Overland Park, Kan., both of which have earned the prestigious Verified Internet Pharmacy Practice Sites™ (VIPPS®) accreditation by the National Association of Boards of Pharmacy® (NABP®). Prescription Solutions also won a Platinum Award for URAC’s Best Practices for Consumer Empowerment and Protection Awards for the Multiple Sclerosis Disease Therapy Management Program (2010); and two Silver Awards: the Drug Interaction Alert Program (2009) and Geriatric RxMonitor Program (2008), Additional information can be found at www.prescriptionsolutions.com.
About UnitedHealth Group
UnitedHealth Group is a diversified health and well-being company dedicated to helping people live healthier lives and making health care work better. With headquarters in Minnetonka, Minn., UnitedHealth Group offers a broad spectrum of products and services through six operating businesses: UnitedHealthcare Employer & Individual, UnitedHealthcare Medicare & Retirement, UnitedHealthcare Community & State, OptumHealth, Ingenix and Prescription Solutions. Through its family of business, UnitedHealth Group serves more than 75 million people worldwide. Visit www.unitedhealthgroup.com for more information.