Omnicare : Omnicare and WellCare Partner to Improve Health Outcomes in
Long-Term Care Market
CINCINNATI, March 25, 2013 - Omnicare, Inc. (NYSE: OCR) and WellCare Health
Plans, Inc. (NYSE: WCG) announced today an agreement to provide Medication
Therapy Management (MTM) services to WellCare beneficiaries residing in
long-term care (LTC) facilities to improve health outcomes.
The Affordable Care Act requires prescription drug plan sponsors to offer MTM
services to eligible beneficiaries that include, at a minimum, an annual
Comprehensive Medication Review (CMR) that must be furnished person-to-person
or using telehealth technologies. The CMR must include a review of the
beneficiary's medications, which may result in the creation of a medication
action plan with a written or printed summary of the results of the review
provided to the targeted beneficiary. Beginning January 1, 2013, the offer of
the CMR to all eligible beneficiaries includes enrollees who are in the LTC
"Omnicare is pleased to work with WellCare to improve its beneficiaries' drug
therapy outcomes," said Dr. Gary Erwin, Omnicare Senior Vice President of
Clinical Services. "Omnicare's clinical pharmacists are experts in geriatric
care with a detailed knowledge of beneficiary clinical status, existing
treatment goals and care plans. Through their experience, and with Omnicare's
proprietary clinical software, the Omnicare clinical pharmacist coordinates
the drug regimen review and CMR processes, engaging beneficiaries and
prescribers in the LTC setting to implement quality-based drug therapy
recommendations in a seamless and efficient manner."
Omnicare will assist WellCare in the provision of MTM services in the LTC
population, including completion of CMRs in concordance with the Centers for
Medicare and Medicaid Services (CMS) regulations; completion of monthly
follow-up medication reviews on members receiving a previous CMR; and provide
data elements of services rendered in format necessary to produce the annual
MTM CMS report, including detailed member level activities to support CMS data
elements as requested.
CMS creates plan ratings, based on performance measuresthat indicate the
quality of Medicare plans on a scale of one to five stars with five stars
being the highest rating. CMS also uses display measures, which are not
included in the plan ratings, to facilitate quality improvement by the plans.
The percent of MTM enrollees who received a CMR will be utilized by CMS as a
display measure for 2014 and is proposed as a performance measure in 2015 -
utilizing validated 2013 MTM data.
In a pilot program with WellCare, Omnicare achieved a CMR completion rate of
greater than 95% in those beneficiaries that resided in a long term care
facility serviced by Omnicare.
Omnicare, Inc., a Fortune 400 company based in Cincinnati, Ohio, provides
comprehensive pharmaceutical services to patients and providers across North
America. As the market-leader in professional pharmacy, related consulting
and data management services for skilled nursing, assisted living and other
chronic care institutions, Omnicare leverages its unparalleled clinical
insight into the geriatric market along with some of the industry's most
innovative technological capabilities to the benefit of its long-term care
customers. Omnicare also provides key commercialization services for the
bio-pharmaceutical industry and end-of-life disease management through its
Specialty Care Group. For more information, visit www.omnicare.com.
About WellCare Health Plans, Inc.
WellCare Health Plans, Inc. provides managed care services targeted to
government-sponsored health care programs, focusing on Medicaid and Medicare.
Headquartered in Tampa, Fla., WellCare offers a variety of health plans for
families, children, and the aged, blind, and disabled, as well as prescription
drug plans. The company serves approximately 2.7 million members nationwide as
of Dec. 31, 2012. For more information about WellCare, please visit the
company's website at www.wellcare.com.
# # #
Patrick C. Lee
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Omnicare via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.