Risk Prediction Tool awarded Silver Honors from URAC while Enhanced Coordination of Benefits program receives Chicago Innovation Award
LISLE, IL, Oct. 29, 2012 /PRNewswire/ - Catamaran Corp. (NASDAQ: CTRX) (TSX: CCT), a leading provider of technology and pharmacy benefit management (PBM) services, was awarded two prestigious awards this month for its continuous dedication to developing innovative solutions that improve health outcomes and reduce costs.
Catamaran was named a 2012 Chicago Innovation Awards Top Ten Winner for its Enhanced Coordination of Benefits program. The industry-first program delivers savings for clients through proper identification of the appropriate payer of a claim while improving the quality of care and the delivery of benefits for patients.
"Catamaran's Enhanced Coordination of Benefits program is the only offering on the market that is performed proactively rather than after a claim is processed and paid, saving dollars, resources and time," said John Romza, Catamaran's Executive Vice President, Research and Innovation. "It is just one example of our passion for creating leading-edge programs that save money and pave the way for a healthier, more productive society. We are proud to be a contributor to our headquarter city's rich history of ingenuity."
The winners were announced at an event held at Chicago's Harris Theater on Monday October 22, with more than 1,200 business and civic leaders attending. The Chicago Innovation Awards, celebrating its 11th year, is the Chicago region's foremost recognition of the most innovative new products or services brought to market or to public service each year.
Catamaran also received the Silver Honors for Healthcare Consumer Empowerment and Protection by URAC, a renowned healthcare accreditation organization. The honor was announced at a gala reception during the 2012 URAC Quality Summit and Awards Program, held in San Francisco, Calif. in October. The award recognizes achievements of organizations that effectively advance the role of consumers as active participants in healthcare.
Catamaran received the distinction for its Real-time Solutions to Collaborate and Improve Adherence, an initiative developed in partnership with the University of Toledo. The program addresses non-adherence to medical therapies and leverages Catamaran's proprietary risk prediction tool to address gaps in care to reduce costs and improve health outcomes.
"We are honored to receive this prestigious award through our partnership with the University of Toledo and are eager to leverage its cost-reducing, health-enhancing capabilities for all Catamaran clients," said Sumit Dutta, Senior Vice President and Chief Medical Officer of Catamaran. "The program strongly supports Catamaran's mission of empowering each and every patient to take charge of their health through targeted clinical programs that bridge information gaps."
"By identifying and addressing patient health risk in real-time, Catamaran's program has the potential to reduce our operational costs by more than 15 percent," said Cindy Puffer, Managed Care Pharmacy Operations Manager, University of Toledo. "It also empowers our employees to improve their own health status, improves information sharing between pharmacists and prescribers, and perfectly integrates with our patient-centered medical home model."
"URAC's Best Practices awards program is a unique celebration of innovative healthcare management programs. These organizations have implemented programs that have made a difference in the lives of the consumers they serve with demonstrable results that matter," said Alan P. Spielman, URAC President and CEO. "This year's winners are recognized for their leadership in delivering on the promise of a quality healthcare system that puts consumers first."
About Catamaran Catamaran, the industry's fastest-growing pharmacy benefit manager, helps organizations and the communities they serve take control of prescription drug costs. Managing more than 200 million prescriptions each year on behalf of 25 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 Lisle, Ill. with multiple locations in the U.S. and Canada. For more information, please visit www.catamaranRx.com.