SXC Health Solutions Corp. announced it will manage Tennessees pharmacy claims system under a three-year, $35 million contract.
The system processes the states Medicaid pharmacy transactions. Under terms of the contract, SXC will help administer a preferred drug list, manage the pharmacy network, provide pharmacists with weekly payments and conduct weekly data services for Tennessees program, dubbed TennCare.
Lisle, Ill.-based SXC expects the contract to begin Oct. 1. TennCare, which covers about 1.2 million patients, fills 1 million pharmacy claims per month in its $650 million annual program. The state spends $7 billion on its Medicaid program.