Thursday, January 10, 2008; Posted: 12:03 PM
RxHub was founded in February 2001 by the leading Pharmacy Benefit Managers (PBMs), CVS Caremark, Express Scripts, and Medco Health Solutions. This payer base has grown significantly to include additional PBMs and payers which now represent access to more than 200 million patient records nationwide. The PBM and health plan industry has confirmed that RxHub is the e-prescribing infrastructure that provides the most value for the payer industry.
Some Americans have more than one source of insurance coverage and RxHub is able to identify the plans for each patient associated with its National Patient Health Information Network. This helps speed the claim adjudication process as well as helps prevent claims from being incorrectly sent to Medicare and Medicaid programs, instead of commercial insurers.
"RxHub provided significant education for payers on the importance of providing prescription benefit and history information to clinicians at the point of prescribing in 2007," stated Tom Groom, Senior Vice President of Business Development for RxHub. "Payers of prescription claims realize that the benefits of connecting to RxHub can improve patient safety and clinical workflow efficiency which results in measureable cost savings in healthcare delivery."
A study conducted by the Gorman Group in 2007 found that approximately 70% of the safety and savings advantages of ePrescribing resulted from doctors being given immediate access to patient level medication histories, safety alerts, and preferred drug options before prescriptions are electronically transmitted to pharmacies.
"ePrescribing transactions processed by RxHub increased by 38% from 2006," stated JP Little, Chief Operating Officer for RxHub. "While this rate of growth is impressive, RxHub is positioned to make a monumental impact to the ePrescribing industry in 2008."
The secured infrastructure network provided by RxHub provides key patient prescription information from Pharmacy Benefit Managers (PBMs) and payers to authorized clinicians utilizing RxHub certified technology applications. This includes prescription plan eligibility, formulary and benefits, and medication history, which is contained at payer sites and is provided to clinicians at the point of prescribing. This process enables clinicians to make informed decisions before prescriptions are electronically transmitted to pharmacies. RxHub also offers real-time prescription plan eligibility checking to pharmacists at the point of dispensing. Providing real-time access to critical decision support information ensures the most clinically appropriate and cost effective medication is provided to the patient.
About RxHub LLC
RxHub (www.rxhub.net) provides authorized clinicians with secure access to real-time, patient specific prescription information for more than 200 million Americans within the United States. Prescription eligibility, formulary and benefits, and medication history information is provided - for consenting patients - to authorized clinicians at the point of care. This real-time decision support information is used by clinicians to effectively manage the patient's use of medications and enables the most clinically appropriate and cost effective medication therapy to be electronically prescribed for the patient. RxHub partners with prescription payers, technology providers, and pharmacy networks to improve patient safety, increase workflow efficiency and reduce the overall cost of health care delivery.
SOURCE: RxHub, LLC
RxHub, LLC Media Contact: Chris Van Horrick, 651-855-3078 Chris.vanhorrick@rxhub.net
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