Millennium Laboratories Partners With CompPharma to Control Cost of Pharmacy in Workers' Compensation
SAN DIEGO, May 21, 2012 /PRNewswire/ -- Millennium Laboratories has joined CompPharma, LLC, a consortium of workers' compensation pharmacy benefit management (PBM) firms, as its first affiliate member. In addition, Millennium will be the Prime Sponsor, the highest sponsorship level, at the organization's annual meeting.
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Comprised of the nation's largest workers' compensation PBMs, CompPharma identifies and prioritizes challenges facing the industry, and then seeks and implements solutions members can cost-effectively share. One of its missions is to educate and assist public policy makers who are responsible for regulating the workers' compensation marketplace. Millennium will share its industry and public affairs expertise to advance CompPharma's initiatives.
"Today's workers' compensation payers face unique challenges resulting from the rise in the use of prescribed medications. Millennium, in its role as CompPharma's first affiliate member, welcomes the opportunity to closely work with the PBMs to identify innovative solutions to meet these challenges," said Howard Appel, President of Millennium Laboratories. "Together, our partnership will support the fundamental goal of both organizations; to improve outcomes for workers' compensation claimants and help them get back to work to resume productive, healthy lives."
"We look forward to bringing our unique perspective as a clinical diagnostic company to CompPharma," added Brent Gibbs, Vice President, Managed Markets & Work Comp at Millennium Laboratories. "We believe CompPharma is an ideal partner to create and implement new initiatives to advance care and improve the lives of people suffering from pain, which is Millennium's core mission."
Gibbs noted that Millennium has long been an advocate for supporting physicians with research and education on safe prescribing of pain medication.
"Millennium's industry leadership, its vast knowledge and experience and strong relationships with physicians and stakeholders will be extremely valuable as we continue to seek creative solution to address this epidemic," said CompPharma President Joe Paduda.
About Millennium Laboratories:
Millennium Laboratories (www.millenniumlabs.com) is the leading research-based clinical diagnostic company dedicated to improving the lives of people suffering from pain. The company provides healthcare professionals with scientific data, clinical tools and services that help personalize treatment plans to improve clinical outcomes and patient safety.
The company utilizes leading technology and proprietary methodologies to provide some of the fastest and most reliable medication monitoring and drug detection results via both urine drug testing (UDT) and oral fluid testing. Test results are backed by expert toxicologists, clinical guidance and dedicated customer service.
Millennium's commitment to advancing the science and the field of pain management also includes a strong focus on the advancement of industry research, education and advocacy. Through its association with the Millennium Research Institute, a nonprofit national research center, it quickly has gained respect as a leader in toxicology, pharmacology and pain management research and education, providing healthcare professionals with innovative research to advance the assessment and management of chronic pain.
About CompPharma:
Established by industry consultants Joseph Paduda and Helen Knight, CompPharma, LLC is a consortium of workers' compensation PBMs active in workers compensation. Nationally, CompPharma's members handle more than 12 million workers' compensation pharmacy prescriptions a year, for a total of $1.6 billion in annual prescription dollars. More information is available at www.comppharma.com.
SOURCE Millennium Laboratories
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