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FOR IMMEDIATE RELEASE
MHA
Creates Nation’s Largest
April 25, 2005 (Florham Park, NJ) Insuring its customers will have the chance to effectively compete in the new Medicare reimbursement model created by the Part D drug benefit, Managed Healthcare Associates (MHA) has created a revolutionary network of Independent Long Term Care pharmacies to negotiate with the Prescription Drug Plans (PDPs) and Medicare Advantage Prescription Drug Plans (MA-PDPs) who will administer this new benefit. After nearly a year of planning, MHA launched its recruitment just last week. Already over 150 pharmacies from around the country, that service more than 300,000 nursing home and assisted living residents have agreed to grant MHA’s network the exclusive right to negotiate on their behalf with PDPs/MA-PDPs. MHA expects this number to continue to grow to over 400 pharmacies and over 500,000 nursing home and assisted living residents in the next few weeks as pharmacies complete their legal reviews of the provider agreement. Michael J. Sicilian, MHA’s Executive Vice President stated, “The MHA Network is easily the largest Network of independent LTC pharmacies in the country and represents a sizable portion of the total Long Term Care pharmacy market. There is no other entity in the Long Term Care market that could possibly surpass the size we have today in terms of independent pharmacy locations or number of LTC residents served. We also expect this number to continue to grow considerably over the next few weeks. It is also already clear that our network is of great interest to the PDPs/MA-PDPs that wish to enter this market and we are certain we will be able to deliver contracts that reflect the unique services provided by LTC pharmacies”. MHA, as the largest Group Purchasing Organization in the country representing Long Term Care Pharmacies, was perfectly positioned to develop this Network. MHA has been the clear leader in the industry in supporting the efforts of industry advocacy groups over the last several years. Since the passage of the new Medicare Bill in late 2003, MHA has hosted several educational programs for LTC pharmacies regarding the new Part D Medicare benefit. In February, the company hosted over one hundred LTC pharmacies and other industry participants for a two day seminar about the impact of the MMA on senior citizen residents in nursing homes and assisted living facilities. Last week MHA hosted conference calls announcing the MHA Network. Over 300 pharmacies attended the conference calls and many have now already chosen to participate in this exciting new program. For More Information Contact: Frank X. Kurilla
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