bswift and Pharmaceutical Technologies, Inc. Team Up to Provide Preferred Partner Pricing : bswift Press Release

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bswift and Pharmaceutical Technologies, Inc. Team Up to Provide Preferred Partner Pricing

CHICAGO, IL — Thursday, January 13th, 2005


bswift, a leading provider of Web-based employee benefit content, communication, enrollment and administration solutions, has announced a new relationship with Pharmaceutical Technologies, Inc. (PTI) of Omaha, Nebraska, to provide insurance brokers with preferred prescription pricing through PTI's national pharmacy network.

"bswift chose PTI as its preferred pharmacy benefit manager partner for several reasons," says Ray Seaver, bswift Executive Vice President. Among them are:
  • PTI's transparent pricing model provides the lowest cost solution for bswift clients.
  • PTI has demonstrated the ability to save 5-7% on existing drug expenditures before adjusting plan design to further reduce costs.
  • The PTI relationship allows bswift to provide a discount on on-line enrollment to companies using PTI services. Electronic data transfer and eligibility advantages help drive this cost reduction.
"We are very excited about our opportunity with bswift," states Doug Pick, PTI President and CEO. "bswift has distinguished itself as a leader in the field of benefit management solutions, and their broker focus is directly in line with PTI's business initiative."

According to Rich Gallun, President of bswift, "The addition of PTI to our service offering is another step toward providing employers and brokers with a diverse set of products and services that are both high quality and low cost. The seamless electronic integration of partners like PTI enhances the value proposition for bswift’s comprehensive benefits solution, reducing both administrative hassles and costs.”


About Pharmaceutical Technologies, Inc.
Pharmaceutical Technologies, Inc. has developed solutions with a host of innovative products. These products include the Pharmacy SmartCardä, Pharmacy SmartCardä Network, Pharmacy SmartComp, super provider networks and National Pharmaceutical Services. All of these products are nationally recognized, paperless, provide accurate funding, reward the provider for excellent work, perform confidentially, restore member's health and provide reporting for the risk entity. Currently Pharmaceutical Technologies, Inc. is recognized as the nation's 8th largest pharmacy benefit manager. For more information please visit www.pti-nps.com.

About bswift
bswift is changing the world of benefits administration by combining deep expertise and a passion for technological innovation with a unique consumer-driven approach. Partnering with enterprises nationwide and serving millions of employees, bswift offers cloud-based technology and services for online enrollment, interactive decision support, ACA compliance reporting and employee engagement. bswift also provides access to consumerism, product and consulting solutions needed to build a benefits program specialized for both employers and employees alike. For more information about bswift, an Aetna company, visit www.bswift.com.

MEDIA CONTACT

Susan Blinkhorn
(312) 261-5751
sblinkhorn@bswift.com