San Diego and Creve Coeur, MO, December 21, 2016 – Imprimis Pharmaceuticals, Inc. (NASDAQ: IMMY) and Focus Script, LLC, a leading independent specialized pharmacy claims management company, today announced the joint launch of the Correct Compound™ program. The Correct Compound program is a specialized compound pharmacy care solution that provides a customizable formulary through the CDF-Logic™ program with low-cost alternative compounded medications through Imprimis Cares®, directed by the oversight of a comprehensive high-performance billing and claims management platform. By combining FocusScript’s CDF-Logic program with the innovative Imprimis Cares portfolio of low-cost alternative formulations, pharmacy benefit managers (PBMs) and payors can confidently provide access to high-quality specialized compounds while focusing on new opportunities to reduce overall prescription drug costs.
Through the Correct Compound program:
- Imprimis and FocusScript will jointly offer FocusScript’s proprietary CDF-Logic program of a customizable compound formulary and the Imprimis Cares portfolio of low-cost alternative compounded formulations to PBMs, managed care organizations and other healthcare payors.
- FocusScript will manage and process Correct Compound claims across FocusScript’s preferred network of over 200 compounding pharmacies which are accredited and credentialed through the UCAP program, administered in an exclusive partnership with the National Association of Boards of Pharmacy (NABP).
- FocusScript will provide its custom, proprietary system for pre-processing claims for optimal pricing, broad analytics and real-time oversight of fraud, waste and abuse.
Mark L. Baum, CEO of Imprimis, stated, “We are excited about today’s launch of the Correct Compound program with FocusScript, the nation’s largest compounding claims management company. Their team of seasoned professionals has extensive managed care and clinical experience, and has established deep relationships with leading PBMs and managed care organizations throughout the U.S. The Correct Compound program, which will be available through a network of FocusScript accredited pharmacies, was designed to assist small and large payors in driving down drug costs while providing patients with high-quality, innovative prescription drug solutions. This partnership allows Imprimis to leverage the value we have built in our Imprimis Cares brand and maintain our focus and resources on our rapidly-growing ophthalmology business. We believe FocusScript’s pharmacy network, relationships with payors and comprehensive prescription drug adjudication tools should help us increase our reach and lower costs that are typically associated with the billing and adjudication process of prescription medications.”
Cynthia A. Meiners, President and CEO of FocusScript, stated, “Rising prescription drug costs continue to be a major concern for payors, and we are pleased to work with Imprimis to introduce the Correct Compound program designed to meet the evolving needs of the managed care industry to continue to provide patients and physicians options in the face of rising costs. Mark and his team have been leading the charge to help combat exorbitant drug prices by quickly bringing to market a portfolio of innovative and affordable compounded medications. By focusing on providing solutions in complex areas where there are disproportionate impacts, we share in the common goal to lower drug costs and make affordable and accessible high quality specialized medications.”