RxHub, LLC & Zynchros, Inc. Enhance Formulary Data Quality Initiative
Program Assists Healthcare Payers Accelerate e-Prescribing Projects and Improve Formulary Data Exchange
SEATTLE, WA — May 5, 2008 — RxHub, LLC a national patient health information network, and Zynchros, Inc., the leader in pharmacy quality management solutions, today announced their enhanced effort to automate and improve the exchange of formulary data for healthcare payers. Their Formulary Data Quality Initiative accelerates the adoption of e-Prescribing and delivers significant improvements in the accuracy and consistency of formulary data within the electronic prescribing process. Zynchros is certified by RxHub to deliver formulary content on behalf of pharmacy benefit managers (PBMs) and health plans. The functionality certified includes loading and updating Formulary Status Lists and Coverage Lists. These lists support Age Limits, Drug Exclusion, Gender Limits, Medical Necessity, Prior Authorization, Quantity Limits, Step Medication, Step Therapy, and Text Message.
The benefits of electronic prescribing are numerous and applicable to patients, physicians, pharmacies and health plans. According to a 2007 study done by the Centers for Medicare and Medicaid Services (CMS), while initial adoption of a new electronic prescribing system may be high, if the formulary data is neither accurate nor updated regularly, a percentage of doctors will revert to written prescriptions rather than risk the use of unreliable formulary data. The new CMS deadline of April 1, 2009, for Part D will require plan sponsors to meet the new standard for the communication of formulary and benefits.
“We want to do everything possible to ensure the continued use and growth of electronic prescribing among physicians and pharmacies,” said Tom Groom of RxHub, LLC. “This initiative with Zynchros helps us to ensure that health plans and pharmacy benefit managers have a quick and easy way to ensure their formularies are accurate and available to enable the growth of electronic prescribing and the realization of its many benefits.”
“The Zynchros pharmacy quality management platform continues to deliver on the promise of synchronizing and distributing critical pharmacy related data to all stakeholders in the value chain. This initiative is closing the e-Prescribing loop between health plans, providers, pharmacies and adjudicators” comments Marc Lilly, CEO of Zynchros, Inc. “By ensuring the quality and transportability of accurate formulary data among all constituents RxHub and Zynchros are helping our health plan and PBM customers to drive better outcomes and greater compliance by accelerating and improving the adoption and deployment of their e-Prescribing programs.”
For more information, RxHub and Zynchros will host a complimentary webcast on June 10th, 2008 at 8:30 AM Pacific / 11:30 AM Eastern. You can register to attend at the Zynchros website, www.zynchros.com.
About RxHub, LLC
RxHub (www.rxhub.net) provides authorized clinicians with secure access to real-time, patient specific prescription information for more than 200 million Americans within the United States. Prescription eligibility, formulary and benefits, and medication history information is provided – for consenting patients – to authorized clinicians at the point of care. This real-time decision support information is used by clinicians to effectively manage the patient’s use of medications and enables the most clinically appropriate and cost effective medication therapy to be electronically prescribed for the patient. RxHub partners with prescription payers, technology providers, and pharmacy networks to improve patient safety, increase workflow efficiency and reduce the overall cost of health care delivery.
About Zynchros, Inc
Founded in 2000, privately-held Zynchros, Inc. (formerly Script IQ, Inc.) delivers technology-based solutions that transform the economics of drug-based wellness, improving compliance and agility of health insurers and pharmacy benefit managers. The Zynchros.com on-demand platform provides the workflow process necessary to initiate effective formulary strategy management, improving responsiveness, control and efficiency by synchronizing all of the participants in pharmacy benefits, from P&T to the point of care. To learn more about how Zynchros is interconnecting the world of pharmacy benefits visit www.zynchros.com or call 1-866-996-2476.
For more information contact:
RxHub LLC:
Chris Van Horrick
651-855-3078
chris.vanhorrick@rxhub.net
ZYNCHROS, INC.
Terry Christiani
206.792.4106
terry.christiani@zynchros.com