23.05.2007 11:00:00
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Medco and Revolution Health Join Forces to Make Healthy Living Easier for Millions of Americans
FRANKLIN LAKES, N.J. and WASHINGTON, May 23 /PRNewswire-FirstCall/ -- Medco Health Solutions, Inc. , one of the nation's leading pharmacy benefit managers, and Revolution Health, a leading consumer-centric health company created by AOL Co-founder Steve Case, today announced that they have joined forces to create an engaging consumer portal that Medco customers can provide to their members to empower them to be healthier and better control their health care costs. Among many of the portal's innovative services will be a comprehensive, personal health record, enabling members to easily and safely store their health information online.
Under this agreement, Revolution Health -- which already reaches millions of individual consumers through its comprehensive health site, RevolutionHealth.com (http://www.revolutionhealth.com/) -- and Medco, serving about 60 million Americans, will deploy a suite of online tools that are personal and action-oriented, making healthy living simpler, more approachable and more transparent. The joint effort will also bring to market communication capabilities and campaign management tools never before offered in the health arena.
"Medco's experience has shown that when members are offered easy-to-use tools and information that help them live healthier and save money, they take action," said David B. Snow Jr., Medco chairman and CEO. "By combining Medco's expertise and leading online pharmacy capabilities with the innovative content, tools and programs offered by Revolution Health, we are expanding our suite of consumer-engagement products and services we offer to clients to more easily and effectively enable members to improve their health."
"Revolution Health believes that the much-needed transformation of health care in America today must start with empowering people to take action to live better," said Steve Case, chairman and CEO of Revolution Health. "With Medco, we will make healthy living easier to attain by providing the very best innovative and interactive tools and services, engaging and encouraging members to make meaningful, sustainable health changes in their lives."
The Medco/RevolutionHealth.com portal will provide increased access to My Rx Choices(R), Medco's member engagement prescription savings program whose core technology has been shown to increase member-initiated conversions to lower cost alternatives by 58 percent.* It will also engage members in ways that are less clinical and more consumer-oriented, putting new tools directly in their hands, such as doctor and treatment ratings, an online community, health trackers, online health games and simple-to-understand health and medical content and information. The portal will help plan sponsors maximize the full range of their benefit offerings and give all of their members a reason to take a role in managing and improving their health.
Another key benefit of the portal is the seamless integration of pharmacy into health benefits and healthy living offerings. For example, the portal will offer Revolution Health's easy-to-use and personal health record (PHR) automatically pre-populated with prescription claims. This real-time synchronization reduces a significant, known barrier to consumer use of personal health records. Messaging powered by My Rx Choices will make the PHR highly actionable, enabling reminders for prescription refills and personalized savings opportunities.
The companies plan to market the integrated portal for Medco clients by the end of the first quarter of 2008.
About Revolution Health Group LLC
Revolution Health Group LLC was founded in March 2005 by Steve Case to create products and services that empower people by putting them at the center of the health system. Revolution Health's other founding investors and board members include Colin Powell, Carly Fiorina, Jim Barksdale, Frank Raines, Steve Wiggins, Miles Gilburne, John Delaney, Jeff Zients and David Golden. The company is based in Washington, D.C.
About Medco
Medco Health Solutions, Inc. is the nation's leading pharmacy benefit manager based on its 2006 total net revenues of more than $42 billion. Medco's prescription drug benefit programs are designed to drive down the cost of pharmacy health care for private and public employers, health plans, labor unions and government agencies of all sizes, and for individuals served by the Medicare Part D Prescription Drug Program. Medco's technologically advanced mail-order pharmacies and award-winning Internet pharmacy have been recognized for setting new industry benchmarks for pharmacy dispensing quality. Medco serves the needs of patients with complex conditions requiring sophisticated treatment through its specialty pharmacy operation, which became the nation's largest with the 2005 acquisition of Accredo Health, Incorporated. Medco is the highest-ranked pharmacy benefit manager on the 2006 Fortune 500 list. On the Net: http://www.medco.com/.
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. We undertake no obligation to publicly update any forward- looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the risks and uncertainties that affect our business, particularly those mentioned in the Risk Factors section of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission.
*Editor's Note: In April 2006, Medco evaluated an earlier version of My Rx Choices, called Savings Advisor. For more information about the analysis, please contact Jennifer Luddy at Medco.
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