Payers Save on Prescription Costs through Rising's Rx Intelligence Technology
Business Insurance Honors Tool as Top 10 Innovations of 2013
CHICAGO, Feb. 19, 2013 /PRNewswire/ -- Rising Medical Solutions (Rising) has been named one of the top ten winners of the 2013 Business Insurance Innovation Awards. This year's competition was keen with Business Insurance magazine honoring only 15 percent of the applicants. Rising is being recognized for its Rx Intelligence Technology – a pharmacy analytics tool that alerts payers to questionable drug usage early on in a claim.
While the workers' compensation industry and mainstream media have been publishing headlines on the opioid epidemic for months now, the problem is far more complicated. Anne Kirby, Rising's Chief Compliance Officer and Vice President of Medical Review Services, led the design of the technology, she notes, "If an injured worker is taking opioids, they're also probably taking a host of other drugs that impact the whole picture. Our technology tracks multiple drugs and combines it with additional medical intelligence about the case, so drug utilization reviews and interventions can be more effective."
Not only does Rising's Rx Intelligence Technology help payers save on prescription costs, it also reduces employee addiction potential, increases return-to-work probabilities and lowers indemnity costs.
On behalf of Rising, Kirby will be accepting the award at the Business Insurance Risk Management Summit March 5 and 6 in New York, NY. Kirby will be speaking more about the technology at this Summit, as well as at the National Rx Drug Abuse Summit in Orlando, FL, April 2-4 in a session on "Using Analytics to Track, Monitor and Reduce Cost."
The Business Insurance Innovation Awards program recognizes leadership, inventiveness and ingenuity in products and services designed for professional risk managers in addressing risk management functions (risk identification, risk assessment, risk control and risk financing). An independent panel of judges comprising active risk management professionals selected the 2013 Innovation Awards winners, which are:
- Ace Group Holdings
- American International Group
- AIR Worldwide
- CS Stars
- Keenan & Associates
- Lexington Insurance
- Rising Medical Solutions
- Zurich Insurance
About Rising Medical Solutions
Rising Medical Solutions is a national medical-financial solutions firm that provides medical bill review, utilization review and medical cost containment services to the workers' compensation, auto, liability and group health markets. Inc. magazine ranks the Chicago-based company as one of the fastest growing private enterprises in America.
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