DALLAS, TX, Sept. 23, 2015 (GLOBE NEWSWIRE) -- Titanium Healthcare, Inc. (OTCQB:TIHC), a diversified and innovative healthcare ancillaries and life sciences company assembled in late 2014 with a vision "to make meaningful changes to the healthcare industry and to the quality of life for patients, through our platforms of 'Personalized Medicine' and 'Prevention of Prescription Drug Abuse', today announced its acceptance into the Professional Compounding Centers of America's ("PCCA's") PersonalMed network.
PersonalMed is a preferred provider network ("PPN") of compounding pharmacies, instituted for select members and applicants of Professional Compounding Centers of America ("PCCA"). Members of the PPN are required to have achieved the rigorous Accreditation Commission for Health Care, Inc.'s Pharmacy Compounding Accreditation Board accreditation, and to meet the strictest standards of credentialing and quality assurance for the services of non-sterile compounding of patient specific prescriptions.
PersonalMed's mission is to assure that patients continue to have access to and receive reimbursement for the custom-compounds that are improving patient quality of life, at costs their employers can predict and afford. Statistics show that payers' overall drug spending can be reduced by up to 13 percent by using a preferred provider network like PersonalMed. In addition, no other group is able to integrate with the most widely used compounding software, PK Software, a wholly owned PCCA software solution and one actively used by Titanium's pharmacy, PreferredRx.
"I am proud of our pharmacy team led by our pharmacist-in-charge, John Helfrich, and our Vice President of Information Services, Jason Evans. They have continually improved our systems and pharmacy to a level where operations are able to exceed the highest industry accreditation standards. Their knowledge and execution are the reason we are able to gain such accreditation," said Chris Mashburn, Chief Operating Officer and Interim Co-CEO.
"Over the past two years the pharmacy benefit managers have used a host of tactics to deny patient's access to much needed compounded prescription medications," said Kamran Nezami, Chairman. "These tactics include slashing the dollar amount reimbursed, denying payment for certain ingredients, requiring pre-authorization phone calls and other financial disincentives that negatively impact patients and pharmacies. We believe that a relationship with a PPN of PersonalMed's caliber is a first step to reaching the self-insured company plans, and other patients and payers who are most likely to benefit from compounding as an alternative to prescription pain pills."
"We regularly speak with patients and executives of companies who have been touched by prescription drug abuse, whether through workplace accidents, impact on family and relationships, or criminal behaviors," said Nezami. "We feel passionately that compounded medications treat pain locally and are efficacious, without addictive side-effects. We think the pharmacy benefit managers are short-sighted in denying compounded medications which then pushes patients into opioids. Our values align with PCCA through the PersonalMed platform, which creates a larger voice for compounders."
"In an ever changing industry, strategic partnerships with groups like PersonalMed are what separate successful organizations from the many other compounding companies without the infrastructure and know-how required to survive and thrive in the 'new age of compounding'," said Mashburn. "Finally, we have seen our new accreditations being a competitive advantage which has added volume to our pharmacy."
About Titanium
Titanium Healthcare, Inc. is a diversified healthcare ancillaries and life science company, focused on improving patients' lives through our "personalized medicine" and "prevention of prescription drug abuse" initiatives. This platform is accomplished through offering products, services and education. The company currently offers personalized medicine products through our owned-pharmacy which possesses 47 states licenses. Our facility can prepare compounded prescription medications which can be tailored according to a custom treatment plan developed through the pharmacogenomics testing services performed through our partner labs. We offer compounded prescription pain medications through our pharmacy as an alternative to prescription pain medications, and medication monitoring through our urine drug toxicology testing services performed through our partner labs. Titanium's business plan is to consolidate a fragmented healthcare industry through mergers and acquisitions. For more information, please visit www.titaniumhc.com.