SAN DIEGO, Sept. 16, 2002 (PRIMEZONE) - MedVantx(sm), Inc., a pioneer of internet-enabled, point-of-care automation systems for dispensing generic first-line therapy in physician offices, and RxHub, a health care technology company connecting the prescribing industry electronically, announced today the successful implementation of the first phase of RxHub's pilot program.
"As a company providing connectivity to payors, clinical information and innovative generic sample management programs in physician's offices, we are eager to streamline the entire medication prescribing process," said Laurent Fischer, MD, Vice President Corporate Development and Medical Director of MedVantx. "Our system provides a much needed solution to increasing drug costs on the front lines and a convenient service to patients but, when combined with the power of RxHub, our ability to help doctors select the most appropriate and cost-effective therapy at the time of the patient visit and improve patient safety increases significantly."
MedVantx is part of the first group of point-of-care technology companies to complete the pilot. The comprehensive 12-week program tested several elements including the RxHub Certification Process, compliance with the RxHub Transaction Specifications Version 1.0, as well as the performance and functionality of the RxHub Master Patient Index (MPI) and the Pharmacy Benefits and Eligibility Response. RxHub established pilot agreements with the nation's top three PBMs, AdvancePCS, Express Scripts and Medco Health Solutions and point-of-care (POC) technology providers.
"This first phase of the pilot program demonstrates the value of inter-connectivity," said RxHub CEO Jim Bradley. "Medication prescribing and fulfillment is not only a complex process, but also an independent industry with multiple products, procedures and challenges. RxHub's unique ability to connect key constituents of the prescribing industry -- PBMs, POCs, and health care providers -- provides us with an opportunity to improve the communication among all the members of the industry for the ultimate safety and benefit of patients."
The MedVantx system, writeSTART(tm), enables physicians to start patients on their first course of drug therapy during their office visit. Using writeSTART, physicians can connect to the PBMs and check drug formulary, dosing and drug interaction information and provide patients with lower cost alternatives to brand-name drugs and increase formulary performance.
RxHub is building the electronic framework that will enable standardized communication throughout the prescription writing and delivery process. The company aims to improve the process by establishing a single standardized channel of communication that will connect all parties in the delivery chain -- physicians, pharmacies, technology providers, PBMs and benefit plans.
About MedVantx, Inc.
MedVantx develops and markets systems to enable the delivery of high-quality, generic first-line drug therapy in doctor's offices. Using MedVantx's system, physicians save time by reducing time-consuming prescription rework and increase patient satisfaction while decreasing the risk of medication errors.
The writeSTART system is the first internet-enabled, fully automated point-of-care system for managing the clinical, supply chain management and financial aspects of dispensing generic first-line drug therapy in physician offices. The system includes proprietary software, hardware and services that combine automated drug purchasing and inventory management, clinical pharmacy information, insurance benefit management, real-time insurance claims processing, credit card processing, and ongoing clinical and financial reporting. Physicians may add features that include e-prescribing, interfaces to practice management systems and electronic medical records.
Based in San Diego, CA, MedVantx is a privately held company with total venture-backed funding to date of more than $25 million. The company's founders include former senior members of the leading provider of medication and supply automation to healthcare. For additional information, please visit the company's website at www.medvantx.com.
About RxHub
RxHub LLC is a health care technology company that has developed a nationwide electronic information exchange connecting prescribers, pharmacies and pharmacy benefit managers in order to permit the sharing of prescription and benefit information between them. The goal of this network is to increase efficiency, reduce costs and improve patient medication safety. RxHub's vision is for its electronic exchange to include all key groups involved with writing, filling and paying for prescription medications, through a network that has been designed with open architecture to make this possible. RxHub was founded in February 2001 by the three leading pharmacy benefit managers (PBMs) in the United States-AdvancePCS, Irving, TX, Express Scripts Inc., St. Louis, MO. And Medco Health Solutions, Inc., Franklin Lakes, NJ and is headquartered in St. Paul, MN. For more information, please visit www.RxHub.net.