“Actuary In A Box” Saves Time, Improves Cost Forecasting For Prescription Drug Programs

May 11, 2007

New Application from TRICAST Introduced at Annual Conference for National Council of Prescription Drug Programs

SCOTTSDALE, AZ -- ACCUCAST, the first actuarial support application for enhanced underwriting and improved risk assessment of prescription drug programs, was introduced today by TRICAST Inc. ACCUCAST is available to health insurance payors, benefits advisors and PBMs (pharmaceutical benefits managers) to lower prescription drug costs while dramatically improving actuarial assessments faster than previously thought.

The release of ACCUCAST represents the expansion of TRICAST’s consulting & application business model, said Greg Rucinski, TRICAST President, speaking from Scottsdale, AZ at the annual conference of the National Council of Prescription Drug Programs.

“Preparing actuarial analysis is one of the most time-consuming aspects of reviewing the state of a prescription drug program,” Rucinski said. “Our application reduces to a few minutes a process that typically takes two-to-three days. The real-time advantages of ACCUCAST are staggering.”

ACCUCAST, described as “an actuary in a box,” is an important new application that has the capability to input design parameters and combine alternate formulary, discount and trend parameters.

AccuCast is an especially powerful tool for any organization involved in Medicare Part D.  In addition to accurately evaluating plan design and formulary modifications, the application will automatically fill in worksheets for filing with CMS (Centers for Medicare and Medicaid Services).

TRICAST, founded in Milwaukee in 1997, uses claims analysis as a benchmarking tool in a variety of risk environments for both experienced insurance entities and inexperienced provider groups.

The company also provides a sales and marketing advantage for its clients by identifying trends on a timelier basis, allowing opportunities for decisive responses. The net result is lowered processing and reporting costs and improved profit margins.

TRICAST delivers data-driven cost control solutions every day. As a leading next-generation health information business, TRICAST offers programs, products and applications for the healthcare industry that assist risk entities controlling overall healthcare costs, with a specific focus on pharmaceutical benefits.

For more information, please contact John Adler, National Practice Leader at 414.302.9733 ([email protected]) or visit www.tricast.com.