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.”
As a member, Modern Medical is involved in setting the CompPharma’s research and development priorities. Among the organization’s other initiatives are capturing the first fill of workers’ comp prescriptions and working with manufacturers on the appropriate use of various medications. Modern Medical joins Aetna Workers’ Comp Access, Cypress Care, Medical Services Company (MSC), and Progressive Medical Inc. in the consortium.
About Modern Medical
Since 1986, Modern Medical, Inc. has been a leading national provider of services for workers’ compensation insurance carriers, self-insured employers, and no-fault auto claims. Its pharmaceutical services program offers access to over 62,000 pharmacies, while equipping clients with a clinical and utilization review advantage to better administer their claims. Along with pharmaceutical services, Modern Medical, Inc. arranges durable medical equipment (DME), electrotherapy equipment, transportation, translation, home health care, orthotics/prosthetics, outpatient therapy, and infusion therapy. For more information, visit www.modernmedical.com.
For more information, contact Helen Knight, 813-837-1701 or firstname.lastname@example.org