Xerox and Medco Launch Communication Delivery Platform to Get Patients Information They Want, Where and When They Want It
ROCHESTER, N.Y. -- Medco Health Solutions Inc. (NYSE: MHS) is making it easier for its members to get their health and benefits information the way they want it. Xerox Corporation (NYSE: XRX) and Medco today announced a communication systems capability that allows people to choose how and when they want to receive and respond to their healthcare information – through traditional mail, a secure website, email or text message alerts.
Using Xerox’s Communication and Marketing Services, Medco, one of the nation’s largest pharmacy benefit managers, will provide the more than 65 million members they serve with the ability to personalize their prescription drug management information and communication delivery channels. This multi-channel communications approach can turn routine tasks, such as prescription shipment tracking, into a one-on-one conversation. For instance, a member can choose to get prescription shipment and tracking information via text message, sign up for email alerts when bills are ready to be viewed, and link to pay it through the Medco website.
“Adding Xerox’s customer communication solutions to help improve the way we deliver information to our members expands our seven-year business relationship beyond back-end cost efficiencies and simplifying how and where we print and process documents,” said Kenneth O. Klepper, president and chief operating officer, Medco. “That experience gives Xerox the insight necessary to help us manage how we will deliver our communications so we can stay focused on helping our members make informed decisions about their personal healthcare.”
According to a recent study1 by Buck Consultants, A Xerox Company, customer service is a top priority in the pharmacy benefit industry. The study showed 57 percent of employers are using pharmacy benefit managers (PBMs), like Medco, and for 65 percent of those employers, customer service is of high importance.
“Personalizing communications – and delivery channels – is the most effective way for healthcare providers and insurers to show customers they understand individual circumstances,” said Stephen Cronin, president, Xerox Global Document Outsourcing. “Clients like Medco recognize that any communication with a customer – by phone, print or Web – is an opportunity to deliver a positive experience and ultimately grow the business through retention or referral.”
Medco signed a five-year contract, building on its existing relationship with Xerox. The company is already saving 25 percent on costs associated with printing, updating and sharing documents using Xerox managed print services, and accelerating claims processing via support from ACS, A Xerox Company.
Xerox Corporation is a $22 billion leading global enterprise for business process and document management. Through its broad portfolio of technology and services, Xerox provides the essential back-office support that clears the way for clients to focus on what they do best: their real business. Headquartered in Norwalk, Conn., Xerox provides leading-edge document technology, services, software and genuine Xerox supplies for graphic communication and office printing environments of any size. Through ACS, A Xerox Company, which Xerox acquired in February 2010, Xerox also offers extensive business process outsourcing and IT outsourcing services, including data processing, HR benefits management, finance support, and customer relationship management services for commercial and government organizations worldwide. The 134,000 people of Xerox serve clients in more than 160 countries. For more information, visit http://www.xerox.com, http://news.xerox.com, http://www.realbusiness.com or http://www.acs-inc.com. For investor information, visit http://www.xerox.com/investor.
Medco Health Solutions, Inc. (NYSE: MHS) is pioneering The world’s most advanced pharmacy® and its clinical research and innovations are part of Medco making medicine smarter™ for more than 65 million members.
With more than 24,000 employees worldwide dedicated to improving patient health and reducing costs for a wide range of public and private sector clients, and 2010 revenues of $66 billion, Medco ranks 34th on the 2011 Fortune 500 list and is named among the world’s most innovative, most admired and most trustworthy companies. For more information, go to http://www.medcohealth.com.
Note: Buck Consultants, “Prescription Drug Benefit Survey,” March 2011
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