LINCOLN, R.I.--(BUSINESS WIRE)--June 22, 2006--PharmaCare, one of
the nation's largest pharmaceutical benefit managers (PBMs), announced
today that it has been selected by Bluegrass Family Health, a
community based not-for-profit health plan, to administer prescription
drug benefits to more than 50,000 members throughout Kentucky.
Effective July 1, 2006, PharmaCare will provide BFH integrated
pharmacy benefit management, specialty, and mail order services. BFH
will also implement PharmaCare's suite of innovative patient-centric
programs designed to empower members to take a more active role in
their care, including DURNow, a daily review of prescriptions that
alerts patients about potentially dangerous drug use, and Patient
Alert, a program designed to educate members about cost-effective
generic and preferred alternatives to their brand-name medications.
According to Joseph Vennari, Director of Pharmacy Services at BFH,
these offerings were central to the company's selection of PharmaCare.
"PharmaCare's patient-centric programs give us more effective ways to
target our members with timely interventions, communicate with them
about important drug information, and help us lower their out of
BFH previously worked with a PBM and a specialty provider but
initiated the search for a PBM last year who could meet all of the
company's prescription benefits needs. During the four-month review
process, BFH considered six companies, and PharmaCare emerged as the
clear choice. "What it came down to was PharmaCare's innovation, value
and clinical expertise," said Vennari.
Another key reason BFH chose PharmaCare is the PBM's customer
focus. "BFH is a very customer oriented organization," said Vennari.
"We really act as an advocate for the member, respond quickly to their
needs, and are accessible company-wide. We felt PharmaCare shared a
similar business philosophy and would make an excellent fit."
"We're proud BFH has chosen to partner with us," said Greg
Weishar, President and CEO of PharmaCare. "By offering operational
advances like better integration of specialty pharmacy services and
real-time reporting, we'll be able to help BFH perform more
efficiently. But what was most important to BFH is our nationally
recognized customer service. Our complementary cultures will ensure
the member always comes first and that will be a key to our joint
PharmaCare is a wholly-owned subsidiary of CVS Corporation
(NYSE:CVS). Founded on the principles of value, trust and integrity,
PharmaCare is 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 millions
of Americans. PharmaCare's comprehensive offerings include fully
integrated, state-of-the art mail-service, one of the nation's largest
specialty pharmacies with a unique model that includes specialty mail
services as well as 52 retail/clinic pharmacy locations, and a network
of more than 56,800 pharmacies in all 50 states, and in nearly every
city. Additional information on PharmaCare can be found at
CVS is America's largest retail pharmacy, operating more than
6,100 retail and specialty pharmacy stores in 44 states and the
District of Columbia. With more than 40 years of dynamic growth in the
retail pharmacy industry, CVS is committed to being the easiest
pharmacy retailer for customers to use. CVS has created innovative
approaches to serve the healthcare needs of all customers through its
CVS/pharmacy stores; its online pharmacy, CVS.com; and its pharmacy
benefit management, mail order and specialty pharmacy subsidiary,
PharmaCare. General information about CVS is available through the
Investor Relations portion of the Company's website, at
http://investor.cvs.com, as well as through the pressroom portion of
the Company's website, at www.cvs.com/pressroom.
About Bluegrass Family Health, Inc.
BFH Family Health is a Kentucky-based group health plan serving
over 300,000 members throughout Kentucky. With headquarters in
Lexington and a Louisville sales office, BFH provides employer group
insurance with a wide array of products to meet the needs of the
marketplace. BFH was created to provide access to exceptional medical
care, affordable and flexible health plans, and personal service. The
company supports a consumer directed approach to health care through
their Bluegrass Consumer Choice product. For additional information on
BFH, visit www.BGFH.com.
CONTACT: PharmaCare Management Services, Inc.
Lisa Bowen, 401-334-0069 ext. 7985
Director of Marketing
Bluegrass Family Health Plan
Faith Powers, 859-268-5346
Director of Communications
SOURCE: PharmaCare Management Services, Inc.