Magazine article Drug Topics

Met Life and Travelers Join in Managed Care

Magazine article Drug Topics

Met Life and Travelers Join in Managed Care

Article excerpt

To some, it's the thunderous courtship of King Kong and Godzilla: That's the plan for Metropolitan Life Insurance Co., New York, and The Travelers Insurance Co., Hartford, to marry their managed care businesses into one new monstrous entity.

Neither side would discuss honeymoon plans as of the time of this reporting, except to say that the goal is to convert existing fee-for-service health plan contracts into managed care contracts. Kenneth Simmons has been chosen to officiate as the CEO of the new company. He used to be the chairman and CEO of United Health Care Corp.

Just how the two companies' pharmacy operations will be coordinated, neither side would reveal. But as for the pharmacy dowry at stake, both companies' contributions are visible.

On Metropolitan's side, the pharmacy operations as of the end of last year consisted of six million covered lives in the company's managed care pharmacy program, Medimet. Another nine million people were enrolled in Metropolitan's fee-for-service pharmacy plans.

Metropolitan has had a nationwide network of 50,000 pharmacies, of which 60% have been chain drugstores and 40%, independent pharmacies. PCS Health Systems Inc., Phoenix, a pharmacy benefit management organization, has been processing the pharmacy claims for the Metropolitan plans. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.