WellPoint NextRx Receives TIPPS Recertification from the HR Policy Association
"WellPoint NextRx is pleased to be one of only twelve companies to berecertified by TIPPS and we look forward to continuing to work with members ofthe HR Policy Association to help better manage their pharmacy costs and bringthe greatest possible value to their employees," said Renwyck Elder, presidentof WellPoint NextRx, a division of WellPoint, Inc. "This recertificationfurther demonstrates our commitment to full transparency in the industry whichis making it easier for employers, their employees and their dependents tounderstand the true price of a drug."
Each year through HR Policy's TIPPS(SM) certification, employers formulatea uniformed definition of transparency and annually certify organizations thatagree to TIPPS standards. PBMs can demonstrate their commitment totransparency by meeting these standards -- the most rigorous criteria in themarket. Organizations must meet requirements in six categories such as retailclaim payments, plan management/consumer engagement and comprehensive auditand disclosure rights. Based on the data provided to support the requirements,WellPoint NextRx was granted TIPPS certification, effective January 1, 2008,and recertified effective January 1, 2009.
As part of the recertification, WellPoint NextRx has again agreed to meetthe following business standards:
-- To provide the acquisition price of brand and generic drugs deliveredby mail order;
-- To charge employers the same price that WellPoint NextRx pays to thedispensing pharmacy for brand and generic drugs dispensed at retailpharmacies;
-- To disclose and pass through any and all payments received by WellPointNextRx from pharmaceutical manufacturers that are based on an employer's drugutilization; and
-- To allow an audit of contracts to verify compliance.
"WellPoint NextRx has always supported a fully transparent approach," saidElder. "For the second straight year, we have taken the necessary steps tomeet stringent requirements set forth by TIPPS and we are extremely pleased toagain be recognized for our efforts towards improving transparency."
WellPoint NextRx is a service mark of WellPoint, Inc. Services areprovided by a WellPoint PBM (either NextRx Services, Inc. or NextRx, LLC, asapplicable). WellPoint NextRx is a division of WellPoint, Inc.
About WellPoint NextRx
WellPoint NextRx is a pharmacy benefit manager (PBM) that assists healthplans, employer groups and third party administrators to target a reduction intotal health care costs and improve health outcomes. WellPoint NextRx providesextensive PBM services including claims processing, clinical and diseasemanagement programs, retail network, mail and specialty pharmacy, customerservice, and rebate management. With roots that date back to the 1980s,WellPoint NextRx's mission to enhance health by making sure people have accessto quality, affordable pharmacy benefits. www.wellpointnextrx.com.
SOURCE WellPoint NextRx
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