Milwaukee, WI (June 1, 2011) – TRICAST, Inc. has released a new version of AccuCAST, a pharmacy benefits risk management software application that boasts several functionality-enhancing modules. AccuCAST was the first actuarial support application created for enhanced underwriting and improved risk assessment with a focus on Medicare Part D.
AccuCAST uses historical pharmacy claims and eligibility data to quickly and accurately:
* Reprice claim costs for:
— Enhanced or new plan designs
— Formulary changes
— Mail/Retail/Specialty and 90-day retail by drug type and/or provider
* Compare historical claims cost against industry benchmarks
* Measure trend by utilization and ingredient costs
* Model pricing with user-defined assumptions
* Provide CMS required actuarial support for Part D filing, including automated completion of CMS worksheets
“When AccuCAST debuted in 2007, we sought to lower prescription drug costs and improve the speed and accuracy of actuarial assessments,” says Greg Rucinski, TRICAST CEO & President. “Today, our enhanced version of AccuCAST captures the entire lifecycle of business intelligence that’s needed for proper risk assessment, including better processes to capture the competitive information that results in reliable pharmacy program pricing.”
AccuCAST has expanded Part D and commercial risk and validation support, and it’s available to anybody who needs to accurately evaluate their prescription drug decisions and dramatically improve the speed of actuarial assessments.
Likely users who will want to take advantage of AccuCAST, include:
* Plan sponsors troubled by fraud, waste, and abuse (FWA)
* Providers validating rebate payments, especially new “gap discounts”
* PBMs concerned about quality assurance
* Providers validating reimbursements to drug manufacturers
To serve the range of users, says Rucinski, AccuCAST now includes “plug-ins” that address a variety of issues, including:
* Prescription claims auditing of every facet of benefit delivery
* Rebate billing and validation
* Automated reports delivery to an end user desktop
* Claims and eligibility reporting
* More robust reporting
* Reports for validation of process and pricing adherence to CMS guidelines
* Daily monitoring and reporting
* Predictive modeling
* All types of healthcare claims to assist in identification of waste
* Rejection analysis
* Integrated premium quoting and tracking
AccuCAST now provides automated factor development and continuance tables that shorten data-to-premium timelines. AccuCAST is available as a hosted solution, as well as a stand-alone application.
Founded in 1994, TRICAST is a leading next-generation health information entity built specific to pharmacy benefits. We provide risk analysis and applications that support analysis and risk modeling for the healthcare industry. Our suite of software applications and expert audit & consulting services assist health plans in forecasting pharmacy costs. Visit http://www.tricast.com (http://www.tricast.com) to learn more.
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Media Contact: Michael Beightol, Coyote Marsh & Associates, Inc., 847.277.7353; mbeightol@coyotemarsh.com.
