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Systems Xcellence to Undertake Development of New
Medicaid Drug Benefit Product
MILTON, Ontario (April 26, 2000) -- Systems Xcellence Inc., (TSE:
SXC) announced today that it is enhancing its Healthcare Xcellence product line to support the
processing of State Medicaid drug benefit transactions. This initiative is consistent with the Company's
strategic plan to logically expand its product offering into new markets.
"We are capitalizing on our core strengths in
commercial health benefit transaction processing." states Gordon S.
Glenn, President and CEO of Systems Xcellence. "We view this
initiative as a natural progression for both the Company and our products,
providing us with access to new opportunities specifically in the state
Medicaid carve-out market."
"With roughly 47% of the 1 billion Medicaid
transactions processed annually being prescription related, we believe
there is significant opportunity for our product solutions," states
Walt Ellenberger, Senior Vice President of Sales and Marketing. "We
also believe that the experience gained in this area will provide us with
a solid foundation to address Medicare drug benefit processing in
the event of regulatory change on the political horizon."
These enhancements are consistent with recent product
announcements concerning Systems Xcellence's growing line of Healthcare
Xcellence products for the healthcare benefits management industry. HX-PBSŪ
(Pharmacy Benefits System), SX's flagship product, combines
full-functionality with a patient-centric design. Targeting Pharmacy
Benefit Managers and Managed Care Organizations, HX-PBS is used to manage
all aspects of pharmacy benefits, such as membership identification and
enrollment, drug interaction and utilization, billing and payments,
eligibility and claims adjudication.
Systems Xcellence is headquartered in Milton, Ontario, and provides
advanced online transaction processing solutions for the healthcare
benefits management industry. The Company combines robust software
products, business expertise and services to deliver superior solutions to
the ever-changing managed care sector. The Company's shares are traded on
the Toronto Stock Exchange under the symbol SXC. |