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News Release
Another
Option for Drug Discount Card - AdvancePCS
March
11, 2002 - AdvancePCS (Nasdaq: ADVP), the nation's leading health
improvement company, has teamed with major pharmaceutical companies
to help cash-paying consumers without prescription drug coverage save
more money on their medications. Consumers now will benefit directly
from pharmaceutical manufacturer discounts that previously were
available only to insurance companies and other large group
purchasers.
"The
people who end up paying the highest price for their medications often
are the ones who can least afford it," said David D. Halbert,
chairman and CEO of AdvancePCS. "By bringing manufacturer discounts
to the individual consumer, we have begun to level the playing field.
Individual patients now have purchasing power similar to giant
corporations. We've used our relationships with manufacturers to help
consumers spend less."
The
addition of manufacturer discounts represents a significant
enhancement to the AdvancePCS RxSavings Plan, already one of the most
widely used prescription discount card programs in the country. The
program combines multiple pharmaceutical manufacturers and a
nationwide network of more than 40,000 pharmacies under one plan to
offer patients a single-source solution.
The
program ensures consistent pricing no matter which pharmacy a
cardholder uses. AdvancePCS RxSavings Plan members pay either the
discounted rate or the pharmacy's usual and customary price,
whichever is lower. The program is available free to all consumers,
and there are no age or income restrictions to join.
The
AdvancePCS RxSavings Plan provides consumers with discounts on all
prescription medications, with overall program savings averaging 20
percent. Now, with manufacturer discounts added, cardholders will see
even greater savings on select drugs including Accupril for
hypertension, Novolin for diabetes and Mircette oral contraceptives.
Manufacturer discounts initially will be available on 21 commonly
prescribed medications and more drugs will be added soon.
The
AdvancePCS RxSavings Plan addresses an important need in this country.
According to the U.S. Census Bureau, in 1999 approximately 43 million
Americans had no health insurance coverage, and AdvancePCS estimates
that approximately 17 million more Americans do not have outpatient
prescription drug coverage included with their health insurance.
Additionally, millions of Americans with drug coverage have
inadequate benefits. The AdvancePCS RxSavings Plan can help to make
drugs more affordable for these people.
"One of
the criticisms of some prescription discount plans is that they are
too narrowly focused, feature only one manufacturer, or benefit only
a limited number of people," noted Halbert. "Our program is
structured to provide value to millions of consumers and offer
savings on all drugs."
In
addition, the program has built-in safety features to help protect
cardholders against potentially harmful drug interactions. AdvancePCS
sends an online alert to the pharmacist whenever one drug may
conflict with another drug a patient is taking. This can be
especially helpful to patients who may be taking several drugs that
have been prescribed by different doctors.
The
AdvancePCS RxSavings Plan also offers new services to cash-paying
consumers. For example, retail pharmacies participating in the
program will advise cardholders about equivalent treatment options
that cost less and assist them in getting new prescriptions from
their physicians if appropriate.
Consumers can obtain an AdvancePCS RxSavings Plan card free of charge
at www.AdvanceRx.com
or by calling 1-800-ADVANCE.
About
AdvancePCS
AdvancePCS (www.advancepcs.com)
is the nation's largest independent provider of health improvement
services, touching the lives of more than 75 million health plan
members and managing more than $21 billion in annual prescription
drug spending. AdvancePCS offers health plans a wide range of health
improvement products and services designed to improve the quality of
care delivered to health plan members and manage costs. AdvancePCS is
ranked by Fortune magazine as one of America's 100 fastest-growing
public companies and is included on the Forbes Platinum 400 list of
best big companies.
The
company's capabilities include integrated mail service and retail
pharmacy networks, innovative clinical services, customized disease
management programs, specialty pharmacy, clinical trials and outcomes
research, information management, and prescription drug services for
the uninsured. AdvancePCS clients include Blue Cross and Blue Shield
organizations, insurance companies and HMOs, Fortune 500 employers,
Taft-Hartley groups, state and local governments, and other health
plan sponsors.
AdvancePCS' award-winning health improvement Web site,
www.AdvanceRx.com, is a robust e-health portal upon which
millions of consumers rely for a broad spectrum of health care needs
and information.
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