SAN DIEGO, CA--(Marketwired - Nov 2, 2016) - Mitchell, a leading provider of technology, connectivity and information solutions to the Property & Casualty (P&C) industry, today announced that it has acquired the assets of Integrated Prescription Solutions, a pharmacy benefit management (PBM) company for the workers' compensation industry. The acquisition further strengthens Mitchell's ScriptAdvisor™ PBM solution, and brings more than 70 new customers to the Company.
Integrated Prescription Solutions specialty offerings will be rolled into the ScriptAdvisor offering -- Mitchell's full end-to-end pharmacy benefit management solution offered to insurers, third party administrators, self-insured entities, and state funds. The solution includes customizable first fill programs, integrated out-of-network bill and electronic claims processing, adjudication of prescription drugs, formulary design, clinical management, and mail order pharmacy services. Integrated Prescription Solutions also provides customers with automated prior authorization tools and online portal technology as well as ancillary services, including durable medical equipment.
"We are excited to offer our comprehensive product suite to Integrated Prescription Solutions customers," said Alex Sun, President and CEO of Mitchell. "Mitchell and Integrated Prescription Solutions customers alike now have access to next level solutions and services that help them drive their business even further."
The acquisition of Integrated Prescription Solutions is Mitchell's latest strategic investment in the Company's growing PBM business aimed at creating better outcomes for customers while building upon existing industry-leading expertise. Integrated Prescription Solutions capabilities support Mitchell's unique technology and claims expertise, simplifying the claims process while achieving measurably better claims outcomes.
"We are excited about combining our PBM solution with Mitchell's ScriptAdvisor offering, and their innovative strategy to integrate PBM with its other casualty solutions to improve the total cost of medical care," said Greg Todd, President and CEO of Integrated Prescription Solutions. "Mitchell shares our customer commitment which enables them to deliver better outcomes through the wide breadth of solutions they offer to the P&C industry."
More information on Mitchell's ScriptAdvisor can be found at: www.mitchell.com/scriptadvisor
About Mitchell International
Headquartered in San Diego, California, Mitchell International, Inc. is celebrating its 70th year of enabling better business outcomes for its customers. Mitchell delivers smart technology solutions that simplify and accelerate claims handling processes, driving more accurate, consistent, and cost-effective resolutions. Mitchell integrates deep industry expertise into workflow solutions, which provide unparalleled access to data, advanced analytics and decision support tools. Mitchell's comprehensive solution portfolio and robust SaaS infrastructure connect its customers in ways that enable tens of millions of electronic transactions to be processed each month for more than 300 insurance companies, over 30,000 collision repair facilities and countless other Property & Casualty industry supply partners across the Americas and Europe. For more information, please visit www.mitchell.com.
About Integrated Prescription Solutions
Integrated Prescription Solutions, Inc. (IPS) provides workers compensation pharmacy benefit management and ancillary services to self-insured employers and third party administrators. IPS offers web-based, workers compensation managed care (WC/MC) medical cost-containment solutions to the employee injury marketplace. The IPS MatRx™ operating system allows employers and adjusters to monitor, manage and make real time authorizations around the clock to injured worker treatment protocols, point-of-sale eligibility and manage formulary selections throughout 65,000+ pharmacies.