RxAdvance Expands Executive Management Team
Southborough, MA – September 18, 2014 — RxAdvance, an innovative pharmacy benefit management (PBM) company, has expanded its executive management team with another industry veteran, Terry A. Ramey, who joins as Executive Vice President, Business Development and Client Engagement.
Terry A. Ramey, Executive Vice President, Business Development and Client Engagement, is responsible for all RxAdvance’s Sales and client relationship management. In addition, he will be instrumental in continuing to build upon RxAdvance’s strategic alliances to meet the evolving needs of the healthcare market place.
Terry brings over 25 years of leadership experience improving business results through effective collaboration with customers and strategic partners to streamline operations and improve service delivery. His track record of successful business development and process improvement spans all aspects of the Healthcare industry including Pharmacy Benefit Management, Medical, Vision, Behavioral, Health Services, Life and Retail Services with business models ranging from start-up to national corporations.
Prior to joining RxAdvance, Terry was EVP, CAO for HVHC, a subsidiary of Highmark Health Plan, focused on the integration of Highmark’s vision care businesses. HVHC is a full service national vision care provider that manufactures, distributes and provides managed care services for over 18M members. While at HVHC, Terry and his outstanding leadership team built and initiated the roll-out of a fully integrated retail/practice management solution for the retail business. Prior to HVHC, Terry was the VP, Operations and Client Services for PerformRx, a wholly owned subsidiary of Amerihealth Caritas. While at PerformRx, Terry was responsible for all service operations, client engagement, network development and clinical services and was instrumental in the expansion of PerformRX to the external Commercial, Medicaid and Medicare markets. Prior to PerformRx, he held executive leadership roles at Penn Mutual and CIGNA with a focus on innovation and a passion for operational excellence. While at CIGNA, Terry led the design and implementation of an integrated care management platform that enabled collaboration across all service areas to improve member health outcomes. Terry began his career at General Electric and worked across several GE facilities in numerous operational leadership roles.
“The PBM industry is known for ‘business as usual’ and has been challenged to bring real value to plan sponsors (health plans, ACO’s, FFS government programs, self-funded groups). The PBM space is filled with multiple, fragmented, inflexible, and homegrown legacy systems that are expensive to operate and unable to provide desired outcomes at the point of care and point of sale”, says Ravi Ika, Founder and CEO of RxAdvance. Ika adds, “Healthcare reform adds additional pressure on the plan sponsor’s PBM to demonstrate effective prescription benefit management through reduced adverse drug effects, better medication therapy management, improved prescription adherence, reduced fraud and abuse, increased usage of generics, and optimal usage of specialty medications. Such value-added services require us to think outside the box and achieve the highest degree of sophistication within RxAdvance.” Ika says, “Terry brings such extensive experience in innovative business process re-engineering and a game changing approach to collaborative customer engagement.”
Terry has a Bachelor of Science degree in computer science from The Ohio State University and an MBA with a concentration in Process Management from Wake Forest University. He also earned General Electric’s industry leading certifications in both the ISMP and FMP programs.
RxAdvance is a national full service PBM (Pharmacy Benefit Manager), bringing superior clinical, pharmacy, and financial outcomes to plan sponsors through Collaborative PBM Cloud™. Built on a unified data model and clinical intelligence, RxAdvance’s PBM standard services include Benefit and Formulary Design, Claims Processing, Customer Support Services, Retail Pharmacy Network Management, Clinical Services, and Rebate Management. Our market differentiation includes Drug Utilization Review at Point of Care (PoC) and Point of Sale (PoS), Medication Therapy Management (MTM), Medication Adherence Management (MAM), Donut Hole Prediction and Prescription Planner, Optimize Untapped Generics Usage, Prevent Adverse Drug Effects, Fraud, Waste and Abuse Management, Advanced Analytics and Cost Management, and Effective Specialty Pharmacy Management. RxAdvance enables real – time actionable communication between prescriber, pharmacist, patient, and payer. Our best in class People, Process and Technology are aligned to support all plan sponsors — health plans, Accountable Care Organizations (ACOs), State Medicaid programs, employer groups, and unions. We provide contractually guaranteed savings in administrative costs, ingredient unit costs, and rebate revenues. For more information, visit www.rxadvance.com.