SOURCE: Ritter Insurance Marketing

Ritter Insurance Marketing - Launches Part D Cost Calculation Tool

December 06, 2010 15:00 ET

Ritter Insurance Marketing Launches Part D Cost Calculation Tool

Ritter Integrates Technology From DestinationRx Into Their Customer Relationship Management Tool, RitterCRM, to Assist Agents in Calculating Drug Costs for Medicare Beneficiaries

HARRISBURG, PA--(Marketwire - December 6, 2010) - Ritter Insurance Marketing today integrated a new web-based application into our existing Customer Relationship Management tool, RitterCRM, to help agents calculate drug costs for Medicare beneficiaries. This new tool is available to independent insurance agents who are registered with www.RitterIM.com. It reduces the processing time for insurance agents who are helping Medicare beneficiaries enroll in prescription drug plans.

For insurance agents attempting to assist Medicare beneficiaries in making appropriate choices with their PDP and MAPD plans, the process of estimating annual drug costs is extremely time-consuming, and because the open enrollment period is limited, they must be able to access the information quickly. Web-based calculation tools reduce the processing time and administrative costs for insurance agents in order to allow Medicare beneficiaries to enroll in the most affordable prescription drug plans.

For Medicare beneficiaries, making an appropriate choice for their Medicare prescription drug plans is extremely important. Often times, the difference in cost between plans can be hundreds or even thousands of dollars per year, and many beneficiaries remain in the same plan from one year to the next even if it does not meet their needs.

Craig Ritter, President of Ritter Insurance Marketing, states, "Helping our agents address this problem is very important to us. To address this need we sought out DestinationRx, the leader in web-based drug calculation technology. DestinationRx specializes in web-based applications for estimating drug pricing for their many clients."

Craig continues, "In addition to cost estimation, DestinationRx is a leader in electronic enrollment technology for Medicare Advantage and Part D Plans. We are working to integrate this technology into the current pricing tool. This will reduce administrative costs, increase accuracy, and save time for the consumer, the agent and the insurance company."

Randy Herman, CEO of DestinationRx, says, "When seniors consider their annual enrollment choices they easily get overwhelmed by the complexity of PDP and MAPD plan designs such as the "doughnut hole," which has become more difficult to understand with the partial closing of the donut hole. Furthermore, it is difficult to compare costs since it depends on so many different details such as location of the client and the drugs the client takes." He continues, "We're pleased to enter into this partnership with Ritter to deliver our technology to seniors through their insurance agents by doing the heavy lifting behind the scenes."

The Estimated Annual Drug Cost calculator will be integrated into Ritter's cloud-based Customer Relationship Management application, RitterCRM. Using an Application Programming Interface (API), the RitterCRM will seamlessly deliver this information. Estimated Annual Drug costs are based on the Average Wholesale Price (AWP) of the Drugs.

About Ritter Insurance Marketing

Ritter Insurance Marketing is a Field Marketing Organization (FMO) specializing in Medicare and health-related Insurance products. Ritter has grown into a technology leader in the FMO market for Senior Insurance Products. With 30 employees and over 15,000 insurance agents as registered users, Ritter represents over 30 insurance companies who look to Ritter to solve their distribution concerns.

About DestinationRx

DestinationRx is the leading provider of web-based prescription drug comparison and Medicare health plan comparison and enrollment services. These services help organizations control costs and increase revenue and enable consumers to make better healthcare decisions. The DestinationRx plan and drug comparison tools are licensed by CMS (Medicare.gov), America's largest health plans, PBMs and pharmacies as well as advocacy organizations including AARP and Consumers Union. For more information, please visit http://www.destinationrx.com.

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    Lisa Borowitz
    Phone: (717) 540-3720

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