Catamaran's BriovaRx Receives URAC Specialty Pharmacy Accreditation
LISLE, IL, April 4, 2013 /PRNewswire/ - Catamaran Corp. (NASDAQ: CTRX), (TSX: CCT), a leading provider of pharmacy benefit management (PBM) services and technology today announced that its specialty brand, BriovaRx™, has been awarded Specialty Pharmacy Accreditation from URAC, a Washington, D.C.-based accrediting organization that establishes quality standards for the healthcare industry.
"BriovaRx's robust offerings focus on the patient, ensuring one-on-one support and a personalized plan that addresses chronic conditions to help them lead healthy, vibrant lives," said Mark Thierer, Chairman and CEO of Catamaran. "The URAC accreditation is a reflection of BriovaRx's patient-centric approach that coordinates the efforts of providers, payers and manufacturers to keep treatments personalized and successful."
Designed as a better alternative to other specialty pharmacy offerings, BriovaRx is a high-touch, comprehensive care system of pharmacological care where patients with chronic illnesses and complex diseases receive expert therapy management and support tailored to their individual needs.
URAC made the decision to develop a Specialty Pharmacy accreditation program because it is one of the key distribution channels for pharmacy benefit management and extends URAC's consumer protection and empowerment efforts in managed care pharmacy. URAC offers the only third-party, voluntary accreditation program of this scope for pharmacy benefit management and prescription services industry.
"The URAC accreditation is a recognition of the quality and broad scope of our specialty pharmacy offering," said Albert Thigpen, Senior Vice President, Pharmacy Operations of Catamaran. "As the fifth largest specialty pharmacy in the nation, BriovaRx has the skill and scale to effectively manage costs for health plans and other payers challenged by escalating specialty drug prices and increased utilization. We look forward to continuing to deliver personalized care and committed support to our patients."
"By applying for and receiving URAC accreditation, BriovaRx has demonstrated a commitment to quality healthcare," said Alan P. Spielman, URAC president and CEO. "Quality healthcare is crucial to our nation's welfare and it is important to have organizations that are willing to measure themselves against national standards and undergo rigorous evaluation by an independent accrediting body."
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 250 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. Follow us on Twitter @CatamaranCorp or www.twitter.com/catamarancorp.
URAC, an independent, nonprofit organization, is a leader in promoting health care quality through accreditation and certification programs. URAC's standards keep pace with the rapid changes in the health care system, and provide a mark of distinction for health care organizations to demonstrate their commitment to quality and accountability. Through its broad-based governance structure and an inclusive standards development process, URAC ensures that all stakeholders are represented in setting meaningful standards for the health care industry. For more information, visit www.urac.org.