Triple-S and Abarca Renew, Expand Partnership for Pharmacy Benefit Services
09/15/2021 - 10:26 AM
SAN JUAN, Puerto Rico , Sept. 15, 2021 /PRNewswire/ -- Abarca , a pharmacy benefit manager (PBM) that is disrupting the industry with a new approach to technology and business practices, today announced that Triple-S Management Corporation (NYSE: GTS) renewed its contract for PBM services on behalf of its managed care subsidiary, Triple-S Salud. This three-year agreement applies to the company's Medicare Advantage, Commercial, and Federal Employees Health Benefit Program (FEHBP) lines of business.
"Abarca and Triple-S have been working together for nearly a decade to deliver a better healthcare experience for members," said Jason Borschow , president and CEO at Abarca
Triple-S first selected Abarca in 2012 to provide services for the plan's Medicare Advantage programs. In 2018, Triple-S expanded the agreement to include Commercial and Medicare lines of business. Under the terms of this renewal, Abarca will continue to perform these functions for three years.
"Since day one, Abarca has been a dedicated and collaborative partner for Triple-S," said Madeline Hernández-Urquiza, President, Triple-S Salud and Triple-S Advantage. "We share the goal of improving access to care and generating better healthcare outcomes in Puerto Rico ."
As part of this new agreement, Abarca will implement a new medication reconciliation post-discharge program that will help ensure members are on safe, efficient treatment regimens after being discharged from the hospital. Abarca's clinicians will contact eligible beneficiaries to reconcile the medications they have been prescribed post-discharge with those they took before being admitted to the hospital. This will minimize discrepancies that place patients at risk for adverse drug events or non-compliance.
Triple-S Management Corporation is an independent licensee of the Blue Cross Blue Shield Association.
To learn more about Abarca's PBM services, visit abarcahealth.com .
About Abarca
Abarca is igniting a revolution in healthcare. It started by redefining pharmacy benefits, but this is just the beginning. It is built on the belief that there is a better way for people and companies to work together, connect with each other, and make healthcare awesome for everyone. With smarter technology and a straightforward approach to business, Abarca provides a much better experience and higher value for payers and consumers. For nearly a decade, they have challenged many industry conventions and trampled on a few. So, call them a PBM for discussion purposes, but they are unlike any other company out there. Join the revolution at abarcahealth.com .
https://www.prnewswire.com/news-releases/triple-s-and-abarca-renew-expand-partnership-for-pharmacy-benefit-services-301377728.html
SOURCE Abarca
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About GTS
Triple-S Management Corporation is a healthcare services company and one of the top players in the Puerto Rico healthcare industry, with over 60 years of experience as the premier brand serving more people through the most attractive provider networks on the island. The company has the exclusive right to use the Blue Cross Blue Shield name and mark throughout Puerto Rico, the U.S. Virgin Islands, Costa Rica, the British Virgin Islands and Anguilla, and offers a broad portfolio of managed care and related products in the Commercial, Medicare Advantage and Medicaid markets. Triple-S is also a well-known brand in the life insurance and property and casualty insurance markets in Puerto Rico, with strong customer relationships and a significant market share.
