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CompSource and Healthesystems Partner to Reduce Workers' Compensation Prescription Cost
On May 22, 2006, CompSource Oklahoma partnered with Healthesystems, a pharmacy benefit services company (PBM), to help policyholders reduce the cost of workers’ compensation prescriptions while providing convenient delivery to injured workers. Like CompSource, Healthesystems specializes in the workers’ compensation industry.
The arrangement between CompSource and Healthesystems provides an innovative approach to consolidate on-line point-of-sale, paper and mail order transactions into one system to make payment for all transactions. This consolidation means CompSource’s policyholders can expect greater utilization of the program impacting the bottom line for savings and service. Moreover, Healthesystems has a proven track record in the industry. It was the first PBM to establish a system with Walgreens and Working RX for electronic receipt of paper transactions eliminating up to 46% of paper transactions on the first day of implementation.
“This program provides an additional way for CompSource to help Oklahoma businesses save on the medical costs associated with their claims. CompSource has previously implemented a medical care savings program that has been very successful. CompSource is committed to obtain savings for Oklahoma businesses and will continue to look for additional ways to contain workers’ compensation costs.” said Terry McCullar, CompSource’s President.
In the coming weeks, CompSource policyholders will receive information from CompSource and Healthesystems on how their injured employees can access the Healthesystems national network of over 59,000 participating pharmacies including a First Fill program. The majority of pharmacies located in Oklahoma are already included in the national network. Injured employees will not have to pay out of pocket expenses, complete forms or keep up with receipts for their workers’ compensation related medications. A mail order pharmacy option is also provided through the Healthesystems program.
“CompSource is excited to bring this program to help policyholders. Containment of pharmaceutical costs results in savings on workers’ compensation claims,” said McCullar.
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