PORTLAND, Ore., March 6, 2013 /PRNewswire/ -- Prescription medications are a key driver of the nation's rising health care costs, and many health care plans are seeking solutions that will provide the best value to their members. With that in mind, Michigan's Upper Peninsula Health Plan (UPHP) has selected RegenceRx to produce rigorous, independent evidence-based assessments of prescription medications, designed to support and maintain UPHP's formulary and medication coverage policies.
UPHP provides benefits to more than 30,000 Medicaid and MIChild members. It ranks among the top 25 Medicaid managed-care plans in the United States, according to the National Committee for Quality Assurance Medicaid Health Insurance Plan Rankings 2012–2013.
"We are honored that the UPHP has chosen RegenceRx as their partner in providing members with safe, effective and affordable medications. We look forward to helping them fulfill our shared commitment to providing cost efficient, quality health care to their members," said Raulo Frear, Pharm. D., general manager of RegenceRx.
"This partnership is a perfect fit for us, as RegenceRx shares the health plan's commitment to provide cost-efficient, high-quality health care to its members," said Sheryl Waudby, M.S., R. Ph., pharmacy director for the Upper Peninsula Health Plan. "We look forward to working with RegenceRx to support our formulary, the foundation of our pharmacy benefits program and our efforts to manage a value-based pharmacy benefit for our members."
The mission of RegenceRx is to ensure that members have affordable coverage for prescription medications. The company is distinguished by its focus on clinical evidence to build its formulary, and its focus on lowest net costs has helped reduce the cost of prescription medications for RegenceRx and their members. RegenceRx currently provides PBM services for more than 1.2 million members of Regence Health Plans. In addition, over 7.7 million members from other Blue Cross and Blue Shield and Medicaid plans trust RegenceRx to provide clinical and contracting support. RegenceRx, Inc. is part of the Cambia Health Solutions family of companies.
About the Upper Peninsula Health Plan
Based in Marquette, Michigan, the Upper Peninsula Health Plan (UPHP) provides benefits to more than 30,000 Medicaid and MIChild members. With a network of more than 900 providers, UPHP also serves as the hub for all commercial managed-care and preferred provider organization (PPO) activity in the Upper Peninsula. UPHP ranks among the top 25 Medicaid managed-care plans in the United States, according to the National Committee for Quality Assurance Medicaid Health Insurance Plan Rankings 2012–2013.