National Workers’ Compensation Provider PMSI-Tmesys Successfully Completes Type II SAS 70 Audit

TAMPA, FL - April 19, 2006

PMSI-Tmesys, the pharmacy provider for over 150 unique workers' compensation payers, including five of the top ten insurance carriers and four of the top seven third-party administrators, is pleased to announce that it has successfully completed a service auditor's review, commonly known as a SAS 70 Type II audit. The nationally recognized independent auditing firm of SAS 70 Solutions conducted an audit of the pharmacy control practices and operating effectiveness of the Tmesys Retail Pharmacy Benefit Manager (PBM). The auditor's opinion stated that, "PMSI-Tmesys presents fairly in all material respects the relevant aspects of PMSI-Tmesys controls that had been placed in operation."

SAS 70 is an acronym for the American Institute of Certified Public Accountants (AICPA) Statement on Auditing Standard (SAS) No. 70, titled "Reports on the Processing of Transactions by Service Organizations." It defines the professional standards used by a service auditor to assess the internal controls of a service organization and issue a service auditor's report.

The audit monitored Tmesys systems application control areas including network pharmacy and payer set-up and implementation, eligibility file upload, Average Wholesale Price (AWP) upload, adjudication processes, pharmacy payments, bill review, payer invoices and reversals. The general controls supporting these activities were also examined, including information and physical security, application development and maintenance activities, data communications and disaster recovery. PMSI-Tmesys voluntarily participated in the audit as part of its continuous quality improvement program to ensure its pharmacy systems meet industry best-practice safeguarding standards.

PMSI-Tmesys management recognizes that Sarbanes-Oxley legislation has placed an increased focus on the internal controls of the company's valued business partners. The SAS 70 audit report is designed to provide clients with a level of assurance regarding the controls that are maintained by PMSI-Tmesys management. The SAS 70 report addresses all five components of internal control outlined in the Sarbanes-Oxley legislation, namely the control environment, risk assessment activities, control activities, information and communication systems and monitoring activities. The structure of the report is intuitive and is designed to integrate well with PMSI-Tmesys clients' Sarbanes-Oxley compliance programs.

About PMSI-Tmesys

Formed in 1976 and based in Tampa, Florida, PMSI-Tmesys is the one of the nation's leading providers of cost-containment solutions for pharmacy and specialty services in the workers' compensation and catastrophic injury markets. Both PMSI and Tmesys revolutionized the workers' compensation industry from their inception, introducing the first programs of their kind. PMSI was the first workers' compensation provider to offer a single-source concept for pharmacy, medical equipment and specialty services. Tmesys, the company's retail PBM, pioneered the first cardless, online PPO built specifically for workers' compensation and its complexities. Today, PMSI-Tmesys processes over 4 million pharmacy and specialty services transactions annually for injured workers. For more information, visit http://www.pmsionline.com or call 877-275-7674. Please contact Deborah Carr, marketing manager at (813) 318-6974 to obtain further information regarding the PMSI-Tmesys SAS 70 audit.

CONTACT:
For PMSI-Tmesys, Tampa
King Knight Communications
Helen Knight
813-961-6051
[email protected]

or

PMSI-Tmesys
Deborah Carr
813-318-6974
[email protected]