Services to include exclusive specialty pharmacy
LISLE, IL, April 1 /PRNewswire/ - SXC Health Solutions Corp. ("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), a leading provider of technology and pharmacy benefit management (PBM) services, announces that its HealthCare Information Technology (HCIT) Group has been awarded a five-year sub-contract from HP Enterprise Services ("HPES") to provide PBM services to the State of Nevada's 180,000 Medicaid members. HPES has been awarded the contract as Nevada's new Medicaid fiscal agent and manager of its Medicaid management information system.
Under terms of the agreement, SXC will administer the Nevada Department of Health and Human Services, Division of Health Care Financing and Policy ("Nevada DHCFP") pharmacy claims system, an online system that processes all Medicaid pharmacy transactions. SXC will also help manage Nevada DHCFP's rebate administration program, prior authorization, e-prescribing, MMIS integration and assist in the management and exclusive fulfillment of specialty pharmacy, among other services.
"This contract further expands our footprint in the State Medicaid market and will help lower the costs and improve patient outcomes in Nevada's Medicaid program," said Mark Thierer, Chairman, CEO and President of SXC. "Technology is a key differentiator for SXC; our ongoing focus on technology development enabled us to win this important fee-for-service opportunity in Nevada, where transparency, customization and cost containment were essential."
The base state contract is for five years and includes two two-year options. Nevada DHCFP fills approximately 1.3 million claims a month generating approximately $200 million in annual pharmacy spend.
About SXC Health Solutions Corp.
SXC Health Solutions Corp. is a leading provider of pharmacy benefits management (PBM) services and Health Care Information Technology (HCIT) solutions to the healthcare benefits management industry. The Company's product offerings and solutions combine a wide range of PBM services and software applications, application service provider (ASP) processing services and professional services, designed for many of the largest organizations in the pharmaceutical supply chain, such as health plans, employers, federal, provincial, and, state and local governments, pharmacy benefit managers, retail pharmacy chains and other healthcare intermediaries. SXC is headquartered in Lisle, Illinois with multiple locations in the US and Canada.
For more information please visit www.sxc.com.
SOURCE SXC Health Solutions Corp.