Atlanta – June 7, 2010 — Healthcare Solutions, the parent of Cypress Care, today announced that Jim Andrews, R.Ph., senior vice president of pharmacy services for Healthcare Solutions, and Dave Theron Smith, divisional vice president of risk management for Family Dollar, Inc. will present at the 2010 Case Management Society of America (CMSA) annual conference in Orlando. The presentation, “Beyond Unit Cost: The Next Generation of Pharmacy Benefit Management” will take place on Friday, June 11th, at 2:15 p.m. at Disney’s Coronado Springs Resort.
For years, prescription drug costs have been cited as a leading contributor to the increase in overall health spending. Andrews and Smith will discuss the factors behind rising pharmaceutical expenditures and how Healthcare Solutions and Family Dollar partnered to apply a unique, comprehensive approach for managing these expenditures by focusing on clinical and utilization controls supported by data analytics.
“By applying a data-driven, clinical approach, Family Dollar’s pharmacy costs dropped by eight percent as a share of total medical losses while industry reports indicate that workers’ compensation pharmacy costs are increasing,” said Smith. “During the same time period, Family Dollar’s total medical losses decreased by seven percentage points.”
Andrews and Smith will also discuss how pharmacy data can be used as a leading indicator of future medical and indemnity losses. The presentation will specifically address how data can be mined to identify irregular utilization and prescribing patterns and used to trigger strategies to improve clinical and return-to-work outcomes.
“The success of our pharmacy program is based on a strong business partnership with Family Dollar that includes working together to identify new approaches for clinical management that address evolving pharmacy trends,” said Andrews. “As part of the program, Healthcare Solutions provides timely information to Family Dollar that enables immediate action to be taken to improve clinical outcomes while also reducing costs.”
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About Healthcare Solutions
Healthcare Solutions, Inc. is the parent company of Cypress
Care and Procura Management. Through its affiliated companies,
Healthcare Solutions serves as a health service company delivering
integrated solutions to the property and casualty markets,
specializing in workers' compensation and auto liability/PIP. The
company's customers include insurance carriers, third party
administrators (TPAs), managed care organizations (MCOs),
government agencies and self-insured employers. Utilizing
market-leading technology, Healthcare Solutions delivers
demonstrated benefits and savings complemented by deep industry
expertise. For more information, please visit
www.healthcaresolutions.com.
About Family Dollar
Beginning with one store in 1959 in Charlotte, North
Carolina, the Company currently operates more than 6,600 stores in
44 states. Family Dollar Stores, Inc., a Fortune 500 company, is
based in Matthews, North Carolina, just outside of Charlotte and is
a publicly held company with common stock traded on the New York
Stock Exchange under the symbol FDO. For more information, please
visit
www.familydollar.com.