Media Releases

CompPharma Fights Attempt to Eliminate Pharmacy Savings in Workers’ Comp

TAMPA, FLA. (June 13, 2012) — Legislation currently being considered in the New York Senate and Assembly (S.3749 and A.5183) will increase employers’ costs, eliminating the pharmacy savings from 2007’s workers’ compensation reforms, according to Joseph Paduda, president of CompPharma, an organization of workers’ compensation pharmacy benefit managers (PBMs).

Since the reforms, PBMs have been working with payers and pharmacies to ensure patient access to medications while also reducing the price of prescriptions. According to the Workers’ Compensation Research Institute’s Dec. 2011 Research Bulletin, reforms decreased the average price per pill between 10 and 20 percent.

Routing a prescription through a PBM and its pharmacy network increases patient safety, alerting the pharmacist and payer to potentially harmful medication issues, such as drug-to-drug interactions, narcotic overuse/abuse and potential prescription fraud or diversion.  Prescriptions filled outside pharmacy networks and PBMs do not undergo these safeguards. Continue reading CompPharma Fights Attempt to Eliminate Pharmacy Savings in Workers’ Comp


CompPharma Salutes New York State’s Prescription Drug Reform Package

TAMPA, FLA. (June 7, 2012) —  CompPharma, LLC, a consortium of workers’ compensation pharmacy benefit management (PBM) firms, voices continued support for New York State’s comprehensive drug reform package.

The new law contains provisions to overhaul the way potentially addictive or abused prescription drugs are tracked in the state and includes a “real time” prescription monitoring registry.  Physicians and pharmacists will be required to view a patient’s controlled substance history on a secure web-based registry before they prescribe or dispense controlled substances.

“We applaud the state’s initiative in tackling the national epidemic of drug abuse,” said CompPharma’s President, Joseph Paduda.  “The leadership of Attorney General Schneiderman and the heavy lifting by key members of the State Assembly and Senate will make this much-needed law reality. We’ve worked closely with many elected officials to help promote I-STOP; their willingness to invest time and energy in I-STOP shows the importance of the issue. Continue reading CompPharma Salutes New York State’s Prescription Drug Reform Package


Millennium Laboratories Partners With CompPharma to Control Cost of Pharmacy in Workers’ Compensation

SAN DIEGO, CA – May 16, 2012 – Millennium Laboratories has joined CompPharma, LLC, a consortium of workers’ compensation pharmacy benefit management (PBM) firms, as its first affiliate member.  In addition, Millennium will be the Prime Sponsor, the highest sponsorship level, at the organization’s annual meeting.

Comprised of the nation’s largest workers’ compensation PBMs, CompPharma identifies and prioritizes challenges facing the industry, and then seeks and implements solutions members can cost-effectively share.  One of its missions is to educate and assist public policy makers who are responsible for regulating the workers’ compensation marketplace. Millennium will share its industry and public affairs expertise to advance CompPharma’s initiatives. Continue reading Millennium Laboratories Partners With CompPharma to Control Cost of Pharmacy in Workers’ Compensation


SXC Health Solutions Joins CompPharma

Tampa, Fla. (April 2, 2012) — SXC Health Solutions, Corp., which provides technology solutions to the pharmacy benefit management (PBM) industry, has joined CompPharma, LLC.  CompPharma is a consortium of nine workers’ compensation PBMs that researches and implements solutions that impact the industry and advocates for the industry, workers compensation claimants, and employers.  Primarily, CompPharma coordinates public affairs efforts to help lawmakers and regulators understand the issues related to pharmacy in workers’ compensation.  Its public affairs goals are to facilitate an open marketplace, ensure access to appropriate medications for workers’ compensation claimants and maintain the ability of member PBMs to profitably conduct business and serve their customers.

As a member, SXC helps set CompPharma’s  advocacy priorities and direction.  “Many issues are better represented by a group, rather than an individual company,” said Gregory Kosater, R.Ph., vice president workers’ compensation sales and account management for SXC. “We appreciate the opportunity to unite with like-minded professionals for the good of the industry.” Continue reading SXC Health Solutions Joins CompPharma


CompPharma Welcomes PMSI

Tampa, Fla. (June 4, 2009) – PMSI Inc. one of the nation’s largest and most experienced providers in serving the workers’ compensation and liability markets, has joined CompPharma, LLC. A national consortium of Pharmacy Benefit Management (PBM) firms specializing in workers’ compensation, CompPharma provides a vehicle for member PBMs to share the cost of researching and developing solutions for industry-wide challenges.

“We are pleased to participate with CompPharma and its members to evolve and promote forward-thinking in the workers’ compensation PBM arena,” said Eileen Auen, PMSI’s Chairman and CEO. “CompPharma plays an essential role in leading the industry with sound judgment, knowledge and insights that promote quality care, showcase integrity and deliver technology- and data-driven capabilities.”

As a member, PMSI will help set CompPharma’s research and development priorities. CompPharma’s initiatives include working with states to ensure that legislators and regulators understand the cost drivers in workers’ compensation pharmacy and how to contain costs and improve the quality of life for injured workers. Continue reading CompPharma Welcomes PMSI


myMatrixx Signs on as a CompPharma Member

Madison, Conn. (April 8, 2008) — myMatrixx™, (http://myMatrixx.com), a Tampa-based pharmacy benefit management (PBM) firm specializing in pain management and workers’ compensation, has joined other industry leaders in the CompPharma consortium.  CompPharma provides a platform for PBMs to explore industry issues, create ways to lower costs, and share the cost of developing solutions for industry-wide challenges.

“Working with other professionals who face the same issues is very helpful,” said Phil Walls, senior vice president of operations for myMatrixx. “The consortium provides the venue for members, such as myMatrixx, to help payers and legislators understand the true cost drivers and the real cost saving opportunities in workers’ comp pharmacy.” Continue reading myMatrixx Signs on as a CompPharma Member


CompPharma Welcomes ScriptNet

Madison, Conn. Feb. 27, 2008) —ScripNet has joined CompPharma, a consortium of Pharmacy Benefit Management (PBM) firms that specialize in workers’ compensation. CompPharma provides a vehicle for member PBMs to share the cost of researching and developing solutions for industry-wide challenges.

“We are very happy to join CompPharma and participate with other consortium members in promoting best practices in PBM workers’ compensation,” said Dennis Sponer, CEO, ScripNet.   “The affiliation supports our goal of improving efficiency and effectiveness across carrier, pharmacy and PBM industry participants through automation, communication and transparency.”

As a member, ScripNet will help set CompPharma’s research and development priorities.  Among CompPharma’s ongoing initiatives are creating ways to capture the early fills of workers’ compensation prescriptions and working with states to ensure that legislators and regulators understand the cost drivers in workers’ compensation pharmacy and how to contain costs.   Continue reading CompPharma Welcomes ScriptNet


Modern Medical Inc. Joins CompPharma

Madison, Conn. (Aug. 28, 2007) — Modern Medical, Inc. has joined CompPharma, a consortium of Pharmacy Benefit Management (PBM) firms, specializing in workers’ compensation. CompPharma provides a vehicle for member PBMs to share the cost of researching and developing solutions for industry-wide challenges.

“The decision to join CompPharma was an easy one,” said Modern Medical’s founder and CEO, Joe Favazzo. “The pharmacy benefits industry in workers’ compensation is an ever-changing one, and this alliance puts us in a position to stay up-to-date with these nuances. The CompPharma program is revolutionary and will change the way this industry operates.”

CompPharma and its law firm Lord Bissell & Brook, LLP are developing Rx Insight, a 50-state database of laws and regulations affecting pharmacy in workers’ compensation. Rx Insight, available only to CompPharma members, is much more than a comprehensive compilation of states’ laws, according to CompPharma’s President Joseph Paduda, “Lord Bissell & Brook is providing analysis and interpretation of those laws and regulations that allow members to make informed decisions.” Continue reading Modern Medical Inc. Joins CompPharma


June 19, 2007 – CompPharma Established

COMPPHARMA ESTABLISHED TO PROVIDE SERVICES FOR WORKERS’ COMPENSATION PHARMACY BENEFIT MANAGERS (PBMs)

Regulatory and Legislative Database First Initiative for New Consortium of PBMs

Madison, Conn. (June 19, 2007) – CompPharma, LLC has been formed to enable Pharmacy Benefit Management (PBM) firms, specializing in workers’ compensation common industry, to share the cost of researching and developing solutions for industry-wide issues.

CompPharma’s first project is developing a 50-state database of laws and regulations affecting workers’ compensation PBMs. It has retained the national law firm of Lord Bissell & Brook, LLP (LLB) to create the database, monitor the legal landscape and regularly update the data. Continue reading June 19, 2007 – CompPharma Established