Fourth Largest PBM Ranks Number One in Service Excellence for the 5th Straight
LINCOLN, R.I.- November 29, 2005 -- For the fifth consecutive year, PharmaCare
has achieved the top ranking for "overall service and performance"
-- in the 2005 Customer Satisfaction Report conducted by the Pharmacy Benefit
Management Institute (PBMI).*
Despite escalating drug costs and increasing economic pressures, the company
also was first in "ability to deliver on promised savings." Respondents
noted that PharmaCare's key strengths include its flexible and responsive customer
and member services, as well as its mail-service and benefit management.
"We are extremely pleased our performance is being recognized," said
Greg Weishar, President and CEO of PharmaCare. "We have been working hard
to meet our clients plan goals and are committed to continue providing programs
that work to improve customer satisfaction and plan savings. This award is evidence
of our commitment to Value, Trust and Integrity with our partners".
The 2005 Pharmacy Benefit Manager Customer Satisfaction Report provides plan
sponsors with information to select and manage PBM services. This survey was
conducted in June 2005 by PBMI.
PBMI, based in Tempe, Arizona, is an independent organization that provides
research-based education to help pharmacy benefit management companies develop
and manage strong programs. The PBMI annual customer satisfaction survey evaluates
the quality of services of the major PBMs in the industry. This year, 416 large
employers (more than 2,500 employees) representing 8,451,464 benefit plan members
in the United States responded to the survey.
The complete PBMI survey report is available for purchase at www.pbmi.com.
Founded on the principles of value, trust and integrity, PharmaCare has become
one of the largest pharmaceutical benefit managers in the country. The company
helps large employers, managed care organizations, insurance companies, unions
and government agencies provide safe, cost- effective prescription drug coverage
for over 30 million Americans. PharmaCare's comprehensive offerings include
fully integrated, state-of-the art mail-service, one of the nation's largest
specialty pharmacy with over 40 retail locations and a network of more than
56,800 retail pharmacies locations in all 50 states, and in nearly every city.
PharmaCare is a wholly-owned subsidiary of CVS Corporation (NYSE:CVS). www.pharmacare.com
*In 2004, PharmaCare acquired EHS. The PBM ranked first in overall service
and performance from 2001-2004.