SCHAUMBURG, IL, June 16, 2014 /PRNewswire/ - Catamaran Corp. (NASDAQ: CTRX, TSX: CCT), a leading provider of pharmacy benefit management (PBM) services and technology, introduces its newest clinical service offering, the Safe & Effective Compound Use Reassurance Effort (SECURE), to help clients better monitor and manage the safety and cost-effectiveness of compound medications.
A robust menu of services aimed at addressing safety and cost concerns will be offered to all Catamaran commercial clients through SECURE, allowing them to tailor the offering to their specific needs by selecting which parameters they would like to put in place.
"Compound medications play a role in helping address clinical needs for certain patients. However, given the lack of oversight in this area and the safety concerns we have seen with compounding in the past couple of years, we want to make sure our clients have access to the tools needed to ensure safety and cost effectiveness," said Sumit Dutta, M.D., M.B.A., Senior Vice President and Chief Medical Officer, Catamaran.
Unlike commercially-manufactured prescription medications, the U.S. Food and Drug Administration (FDA) does not oversee compounding. Therefore, regulations can vary from state-to-state. This leaves the compounding pharmacy solely responsible for the safety and cost of the medication.
Due to the increased utilization of compound medications, as well as a substantial surge in pricing, Catamaran has seen a five-fold increase in annual expenditures for compounded medications across its commercially-based clients.
Catamaran is dedicated to seizing every moment of opportunity to deliver smarter solutions, enable critical connections and pioneer innovative interventions to ensure safety and empower our clients and members to maximize their healthcare dollar.
About Catamaran Catamaran, the industry's fastest-growing pharmacy benefits manager, helps organizations and the communities they serve take control of prescription drug costs. Managing more than 350 million prescriptions each year on behalf of over 32 million members, our flexible, holistic solutions improve patient care and empower individuals to take charge of their health. Processing one in every five prescription claims in the U.S., Catamaran's skill and scale deliver compelling financial results and sustainable improvement in the overall health of members. Catamaran is headquartered in Schaumburg, Ill., with multiple locations in the U.S. and Canada. For more information, please visit CatamaranRx.com, and for industry news and information follow Catamaran on Twitter, @CatamaranCorp.