A new year can bring a number of changes that may challenges us, but it also provides us with new opportunities for growth and success. Even though we are already hard at work in 2015, we want to take this opportunity to share with you our achievements, future goals and our appreciation as we reflect on a successful 2014.
At EK Health, everything that we do as a company is guided by our Vision, Mission and Values. The success of 2014 and our goals moving forward in 2015 are a direct result of these commitments. They not only guide the company in terms of corporate strategy or product development, but they also are the driving force behind our commitment to achieve the best possible managed care outcomes for our clients and their injured workers.
In 2014, EK Health developed and launched a couple of key new services, including our latest Medical Provider Network (MPN) product: EK Health Select MPN, as well as the newest addition to our suite of Case Management services: Prescription Intervention Program. Another key highlight for 2014 included receiving URAC accredited for Case Management services to now go along with our Utilization Review accreditation.
EK Health Select MPN
On May 21, 2014, the DWC approved EK Health's application for the EK Health Select MPN. In doing so, EK Health became one of the first managed care companies to have their MPN approved and certified. Prior to the passage of SB 863, only insurance companies and employers could create a Medical Provider Network in California. With the 2012 reform legislation, entities that provide network services became eligible to own and create an MPN.
One of the significant benefits of EK Health Select MPN is that an employer, insurance carrier, or third party administrator or other managed care company can have their workforce become part of the MPN in as little as 30 days.
With EK Health Select MPN, clients can expect the same high quality of providers and services that our custom network clients have experienced for years. Each physician has acknowledged that they treat workers' compensation patients, will not dispense drugs from their offices except in limited circumstances and will treat in accordance with MTUS and other national guidelines.
We are proud that EK Health Select MPN is paving the way with a new and different California MPN, as this highlights our proactive approach to managed care and the delivery of our Vision and Values.
Prescription Intervention Program
EK Health developed its Prescription Intervention program to address issues relating to the rising cost of prescription drugs, physician-dispensed medications and the abuse of opioids. The goal of the Prescription Intervention program is to ensure that medications prescribed to treat an injured worker are appropriate, as well as necessary, to help restore the injured worker's health and productivity.
As part of the Prescription Intervention program, EK Health physicians evaluate the medications prescribed on a case based on medical necessity per evidence-based medicine guidelines and clinical best practices. Physicians complete a thorough analysis of the injured worker's prescribed medications and pharmacy history, and then provide a detailed report stating key recommendations to improve the injured worker's medication regimen.
The true value of EK Health's Prescription Intervention program resides in the numerous benefits that can be realized. Positive outcomes can include improvement in employee health outcomes and productivity, increased probability for return-to-work, as well as a clearer plan for ongoing management of medications. Furthermore, the program can reduce the potential for addiction issues associated with opioids, as well as achieving an overall reduction in medication spend on prescription drugs and decreased indemnity costs.
Our new Prescription Intervention program delivers on our mission to restore quality of life for injured workers, while also potentially decreasing medical spend for employers.
URAC Case Management Accreditation
In June, EK Health was awarded Case Management Accreditation from URAC - a Washington, DC based health care accrediting organization that establishes quality standards for the health care industry. URAC's Case Management Accreditation standards require companies to establish a process to assess, plan and implement case management interventions, including standards to ensure appropriate patient protection and confidentiality.
EK Health partners with insurance companies, third party administrators, employers, and networking partners to develop innovative and customized managed care solutions. Having already achieved URAC accreditation for Workers' Compensation Utilization Management services, this new Case Management accreditation further bolsters the confidence clients have in EK Health's managed care standards and outcomes.
The URAC accreditation is important to EK Health as it signifies a clear mark of quality in our industry. It recognizes our ongoing commitment to excellence and demonstrates our passion for superior nurse case management services.
A look forward
Reflecting on the results of 2014 and realizing what a successful year it has been for EK Health, we are excited and determined to continue this positive momentum into 2015. Our goal is to continue providing strong results for all of our valued clients, and, in the process, remain a leader in the managed care industry.
We want to thank all of our clients for the hard work for their continued commitment and partnership, and we look forward to another great year ahead.