Beacon Mutual Contracts with Cypress Care For Pharmacy Benefits Management
For Immediate Release:
December 17, 2009 Contact: Stephanie DeSilva
True North Communications
WARWICK, RI – The Beacon Mutual Insurance Company announced today they have established a relationship with Cypress Care, Inc. to provide Pharmacy Benefit Management (PBM) services to policyholders effective December 18, 2009. The new plan will provide improved prescription services for injured workers, while providing Beacon with the tools to analyze and better manage prescription costs.
“Our newly formed relationship with Cypress Care will allow us to better manage pharmacy costs, which will ultimately reduce the workers’ compensation costs for our policyholders and Rhode Island’s workers’ compensation system.” said James V. Rosati, president and CEO of Beacon Mutual.
Injured workers will receive a pharmacy card to ease the process of obtaining prescriptions. The card ensures the worker and their pharmacist have all the necessary information to fill a prescription. Additionally, mail order services are available for long-term medication use. The result is a more efficient and convenient system for employers and pharmacies with no out-of-pocket expenses for injured workers.
“This is another example of our desire to provide efficient and effective services for our policyholders and injured workers,” said Rosati.
Cypress Care will provide PBM services for prescription medications related to accepted workers’ compensation claims with Beacon Mutual. Cypress Care has established relationships with pharmacy chains and independent pharmacies in Rhode Island and surrounding states.
About Cypress Care
Cypress Care is an operating company of Healthcare Solutions based in Duluth, GA. Cypress Care along with its affiliated companies, Healthcare Solutions and Procura Management, serves as a health care services company delivering integrated solutions to the workers’ compensation and auto casualty markets.