PRESS RELEASE: Controlling Employers’ Drug Costs
M. Joseph Medical – Occupational Managed Care Alliance Announce Strategic Partnership
For Immediate Release
March 11, 2014
Louisville, KY – M. Joseph Medical and Occupational Managed Care Alliance (OMCA), two companies headquartered in Louisville, announce the formation of a strategic partnership aimed at helping employers and insurance carriers control pharmaceutical expenses in both group medical and workers’ compensation insurance programs.
Insurance carriers and self-funded employers have seen unprecedented medical cost increases in recent years due, primarily, to the increasing cost and abuse of prescription drugs. M. Joseph Medical is a pharmacy benefit manager (PBM) and since 1985 has successfully managed large prescription drug programs throughout the United States. Their technology platform, and access to favorable pricing based upon volume, affords buyers the opportunity to purchase prescription medicine with significant discounts while effectively controlling utilization.
OMCA has specialized in reducing clients’ medical costs since 1988. By utilizing national medical experts, they have developed expertise and criteria which applies evidence-based medicine to control the use and abuse of pharmaceuticals. OMCA manages cases nationwide and is accredited by URAC for Workers’ Compensation Utilization Management and for Health Utilization Management.
Nationwide, M. Joseph and OMCA can secure favorable pricing and access to drugs that are needed, yet aggressively monitor and manage those cases where addictive and abused drugs are not medically appropriate.
Kentucky employers have the added advantage of being able to utilize the M. Joseph/OMCA strategic partnership within a workers’ compensation certified managed care organization (MCO). The MCO allows carriers to control which pharmacies may dispense medication to injured workers. The Kentucky Insurance Guaranty Association (KIGA) will be the first insurer to utilize this MCO.
For further information contact:
Julie Norris, President
M. Joseph Medical
William Faris, President
Occupational Managed Care Alliance