New standard for HIPAA covered transactions fully tested and available to client base well ahead of schedule
LISLE, IL, Aug. 4 /CNW/ - SXC Health Solutions Corp. ("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), a leading provider of pharmacy benefit technology services, announced today that it has completed development and testing of software to support the National Council for Prescription Drug Programs (NCPDP) version D.0 of the NCPDP Telecommunication Standard. The Department of Health and Human Services (HHS) adopted the NCPDP version D.0 as the next HIPAA standard for HIPAA covered transactions. The move to D.0 by HHS will streamline the documentation required for transactions and address newer programs and developments, such as Medicare Part D. D.0 is the most recent HHS approved version of the NCPDP standard and will be the only HHS approved HIPAA standard, effective in 2012.
"There are many features in D.0 that support advanced functionality in the pharmacy benefit management process. These include more complete information on claims for compound prescriptions, more information to support consumer directed health initiatives, better handling of claims involved in coordination of benefits and the ability to handle claims for pharmaceutical services outside of the dispensing process," said John Romza, Chief Technology Officer for SXC. "All of these enhancements support advancement of technology and programs that lead to better health care outcomes and better overall health care cost management."
"SXC has always been focused on initiatives that advance our efforts in supporting effective pharmacy benefit management," said Mark Thierer, President and CEO of SXC. "Because of our diverse client base we have unique insights into how all segments of the industry plan to use D.0. This enables SXC to develop and introduce initiatives like D.0 with comprehensive functionality. Being well ahead of schedule in this area presents SXC clients with the opportunity to leverage our technology and expertise to the greatest advantage in the marketplace."
Following robust internal testing and preliminary testing with select partners last fall, SXC has now begun the introduction of its D.0 software support into its core client base and expects that all partners will be using the software prior to January, 2011.
About SXC Health Solutions Corp.
SXC Health Solutions Corp. is a leading provider of pharmacy benefits management (PBM) services and Health Care Information Technology (HCIT) solutions to the healthcare benefits management industry. The Company's product offerings and solutions combine a wide range of PBM services and software applications, application service provider (ASP) processing services and professional services, designed for many of the largest organizations in the pharmaceutical supply chain, such as health plans, employers, Federal, provincial, and state and local governments, pharmacy benefit managers, retail pharmacy chains and other healthcare intermediaries. SXC is headquartered in Lisle, Illinois with 13 locations in the US and Canada. For more information please visit www.sxc.com.
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