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April 13, 2006
RxHub Demonstrates Dramatic Increase in the Adoption of Electronic Prescribing Solutions
RxHub Demonstrates Dramatic Increase in the Adoption of Electronic Prescribing Solutions.
Transaction Statistics Show Unprecedented Growth of the Industry
ST. PAUL, Minn., April 13 /PRNewswire/ -- RxHub(R) the largest
nationwide prescription information network, as part of an ongoing effort
to promote transparency in the industry, is pleased to announce key metrics
that clearly demonstrate that the adoption curve of electronic prescribing
is moving into a new phase.
Industry observers have been closely monitoring key milestones as the
electronic prescribing industry continues to broaden its market
penetration. With market accelerators emerging from both public and private
sectors, it appears that the "tipping point" for ePrescribing has been
reached.
* Electronic prescribing transactions including formulary distribution,
real-time pharmacy eligibility and medication history have been
approved as accredited standards as presented to the industry by RxHub.
These transactions combined with existing standards for new and renewal
prescriptions allow for the seamless integration of critical decision
support content into the prescribing workflow.
* In 2005 RxHub added 25 million new lives to its already impressive
Master Patient Index (MPI) which brings the total to 160 million,
representing the largest single MPI in the health care industry. The
scope of the RxHub MPI provides greater than 80% coverage of the
commercial payer marketplace for all parties who connect to RxHub.
RxHub has also contracted with and is implementing a number of other
PBMs that will further increase the size of the MPI and improve
relevance for providers and connected technology partners.
* The number of real-time pharmacy eligibility requests exceeded 26
million in calendar year 2005, and 10 million for the first quarter of
2006. Each of these transactions allows a more informed, safer and
efficient prescribing process between a physician and patient.
* In 2005 over 2.5 million medication history summaries were delivered to
physicians in all 50 states to assist in treatment decisions for their
patients. This represents a five-fold annual increase in volume.
Signifying continued growth, RxHub delivered 1 million medication
history summaries in the first quarter of 2006.
* RxHub's partners have direct access to patient-specific benefit and
formulary information, and electronic script routing services that
result in improved efficiencies for all stakeholders. Currently RxHub
provides access to over 725 formularies including those that serve
Medicare Part D beneficiaries. These improved efficiencies lower the
cost of prescription drug programs by improving formulary compliance
and increasing the utilization of generic or lower cost alternative
medications.
"RxHub has successfully achieved the goals and mission we set forth in
the creation of the Company over five years ago, and is now the leader in
the industry providing solutions that improve the delivery of care," said
John Driscoll, Co-Chairman of the RxHub board. "RxHub's work in standards
development, collaborative efforts with private-public initiatives to
promote interoperability as well as participation in the MMA eprescribing
pilots and NHIN demonstration projects demonstrates the market's
recognition of this success," he added.
The Board of Directors has named JP Little to lead RxHub as the Chief
Operating Officer, as Dave McLean, who had been CEO, has left the company.
JP has been with the Company since its inception and has served as Senior
Vice President and Chief Information Officer.
"RxHub continues to make the transition from a development company to
excellence in operational execution," stated Mr. Little. "The transactional
growth in 2005 and the first quarter of 2006 has been profound. I look
forward to working with an extraordinary team and our Board of Directors in
our continued efforts to drive adoption of ePrescribing that will reduce
the overall cost of health care delivery and improve patient safety and
quality of care for all Americans."
About RxHub LLC
RxHub electronically routes up-to-date patient-specific medication
history and pharmacy benefit information to caregivers at every point of
care. Our end-to-end solution enables physicians to prescribe the most
clinically appropriate and cost effective prescription to be sent
electronically to the patient's pharmacy of choice. RxHub's mission is to
partner with all stakeholders in the prescribing industry to improve
patient safety, increase workflow efficiency and reduce the overall cost of
health care delivery. RxHub is headquartered in St. Paul, MN. For more
information, please visit http://www.RxHub.net
Web Site: http://www.rxhub.net
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