Express Scripts Holding Company is a Fortune 100 company as of 2013, the 20th-largest in the United States and is the largest pharmacy benefit management (PBM) organization in the United States, with 2013 revenues of $104.62 billion.
Headquartered in St. Louis, Missouri, Express Scripts provides integrated pharmacy benefit management services including network-pharmacy claims processing; home delivery pharmacy services; specialty pharmacy benefit management, through its subsidiary Accredo; benefit-design consultation; drug-utilization review; formulary management; and medical and drug data analysis services to manage drug plans for health plans, self-insured employers and government agencies (both as administrator of employee benefits and public assistance programs). One of their largest clients is the United States Department of Defense's Tricare program.
Express Scripts also offers pharmacy benefit management services for workers' compensation insurance programs. The program is accredited by URAC, the nation's largest accrediting body for pharmacy benefit management companies.
The company processes pharmaceutical claims for members through a network of retail pharmacies. Its own automated pharmacies dispense long-term, chronic medications-like those for diabetes or heart disease-directly to members via home delivery.
Express Scripts began in 1986 in St. Louis, Missouri as a result of a joint venture between a retail chain of more than 79 pharmacies (Medicare Glaser Inc.) and Sanus Corp. Health Systems. Express Scripts was purchased by New York Life Insurance Company in 1989 and became a publicly traded company in 1992. In 1993, Express Scripts signed on both FHP International Corp. and Maxicare Health Care and corporate clients Lockheed Corp., Service Merchandise Co., and Ingersoll-Rand Co. In 1994, the company expanded its services by adding workers’ compensation prescription services and reinsurance. In 1994, the company announced a two-for-one stock split and in 1996, established Express Scripts Canada. The same year, the company began the annual Drug Trend Report and launched the Outcomes Symposium Conference.
Health science is the study of how people make decisions, and how to help them make better ones. Upon the merger of Express Scripts and Medco Health Solutions, the company came up with its own approach to understand its members health concerns, which it has dubbed Health Decision Science. This involves looking at three scientific disciplines: behavioral science or “consumerology”, clinical specialization, and actionable data. Because of their position between pharmacies and health care plans, Express Scripts sees 1.4 billion prescriptions a year, and they use this information as part of their research data to create better solutions for clients and patients.
In October 2008, the St. Louis headquarters received an anonymous letter that contained sensitive information about 75 members. The extortionist stated that they would release more of similar records if the company failed to pay an unspecified amount of money. A consumer class action lawsuit against Express Scripts was brought on by John Amburgy, a Missouri man, who accused the company of negligence in protecting customer records. The case was dismissed when Amburgy failed to show how he was directly affected by the breach.
Source: Wikipedia.
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