Accident Fund Holdings Aims to Improve Control of Drug Utilization and Quality of Care with Change in Pharmacy Benefit Manager
LANSING, Mich., May 22, 2012 /PRNewswire/ -- Accident Fund Holdings, Inc., the tenth largest workers' compensation insurer in the United States, has begun the transition from Medco Health Solutions to Express Scripts as their new pharmacy benefit manager. Express Scripts leverages its advanced analytics capabilities and insights generated by its team of experienced researchers to develop innovative solutions that drive out waste and help improve outcomes for injured workers. Accident Fund Holdings anticipates increased savings and reduced healthcare costs for their clients as a result of partnership with Express Scripts.
"Our investments in new medical technology, in addition to the range of programs provided by Express Scripts will enhance our ability to monitor the level of care provided to our injured workers," Cathy Whitford, implementation business lead for Accident Fund Holdings, said. "It also gives us a higher level of control and deeper understanding of the treatment process. This will facilitate product improvements and help ensure a healthy and productive return to work for our injured workers."
The Express Scripts suite of products will now be available to all of Accident Fund's operating companies, improving availability, consistency and quality of service. Express Scripts provides effective network management strategies like the ExpressComp® National Network, First Fill and Paper Bill Conversion program to reduce the cost of using out of network pharmacies and third party billers. In addition, home delivery from the Express Scripts Pharmacy reduces costs while improving dispensing accuracy. Express Scripts partners with clients in a multi-faceted approach to managing narcotics, including early intervention reporting, point-of-sale edits and physician communications.
Accident Fund Holdings plans on leveraging the clinical programs offered by Express Scripts to bolster their narcotics program and enhance their ability to control narcotic utilization, manage costs and mitigate health risks.
"We have high hopes for our new relationship with Express Scripts," Dr. Donald Bearden, corporate medical director for Accident Fund Holdings, said, "Screening of drugs based upon body part and diagnosis, a generic conversion program, increase in home-delivered medications, reduction in paper bills and third party billers, coupled with physician outreach programs are a just a few of the new benefits the company has to offer over our current system."
Accident Fund Holdings and Express Scripts will begin rolling out these new offerings within the next 90 days. The expectation is to have the programs fully functional and providing value to their customers by the end of the year.
For more information about Accident Fund Holdings, Inc. visit www.afhi.com.
Accident Fund Holdings, Inc.
Accident Fund Holdings, Inc. is a workers compensation insurance holding company conducting business through four operating units: Accident Fund Companies, located in Lansing, Michigan; United Heartland, located in New Berlin, Wisconsin; CompWest, located in San Francisco, California; and Third Coast Underwriters, located in Chicago, Illinois. Its insurance company subsidiaries are rated "A-" (Excellent) by A.M. Best. Accident Fund Holdings is a wholly-owned subsidiary of Blue Cross Blue Shield of Michigan. For more information, visit Accident Fund Holdings' website at www.afhi.com.
SOURCE Accident Fund Holdings, Inc.