San Juan, Puerto Rico - abarca health, a leading provider of technology and pharmacy benefit management (PBM) solutions, is pleased to announce that it has been selected by First Medical Health Plan, Inc., of Guaynabo, Puerto Rico, to provide the full suite of PBM services to its Medicare Advantage (MA-PD) and Prescription Drug (PDP) plans, marketed under the brand First+Plus.
Effective January 1, 2012, abarca health will perform claims processing and adjudication services for First+Plus, along with the comprehensive set of Medicare Part D and MA-PD services. As part of its PBM services, abarca health will provide clinical support to First+Plus, including formulary management, drug utilization review (DUR) and utilization management services, and medication therapy management (MTM) programs. In addition, abarca health will manage First+Plus's pharmaceutical rebates program and provide MAC List management. First+Plus has delegated to abarca health pharmacy network management and audit services. abarca health will also provide transparent reporting, business intelligence and analytics services.
Executive Director of First+Plus Carlos Santana, Esq., is confident that First+Plus's members stand to gain from the change in PBM to abarca health: "With abarca health as our PBM, we will provide optimal service and delivery of our pharmaceutical benefit to our members," said Mr. Santana. Responding to questions on the choice of abarca health as PBM, Mr. Santana added: "We were looking for a PBM that would be responsive to our needs and provided us the flexibility to implement changes based on our business requirements. We found this in abarca health. The fact that we're talking about a local company with many years of experience is a bonus."
"We thank First Medical Health Plan for selecting us as its partner in managing the pharmacy benefit programs of its Medicare book of business," said Jason Borschow, President and CEO of abarca health. "We look forward to leveraging our proprietary technology solutions, including our flagship RxPlatform client portal, as well as our team of PBM professionals to support First+Plus in serving their beneficiaries with high quality, cost-effective pharmacy services."
About First Medical Health Plan, Inc./ First+Plus
First Medical Health Plan, Inc. is a Medicare Advantage Organization with a Medicare contract, which markets its products under the First+Plus brand throughout Puerto Rico. First+Plus's Part D plans cover approximately 20,000 members and include Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), and Prescription Drug Plan (PDP) products.
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VP of Business Development
abarca health, LLC