FAQs
What is PTI?
Pharmaceutical Technologies Inc.® (PTI®) is a second generation manager of prescription benefit programs, commonly referred to as a PBM service provider. PBM is an acronym that is known in the insurance industry today to mean a Pharmacy Benefits Manager. First generation PBM companies were responsible for the evolution of paper claims submissions to electronic point of sale adjudication (paperless). First generation companies were the pioneers who created standards for all involved to adopt and allowed for uniform claims content.
PTI is leading a PBM revolution as a second generation company, whereby its alignment is tied directly to the risk taking entity. At PTI, the plan sponsors are respected as the key contributor to the success of the PBM industry and we are challenged daily to take care of their number one asset — their members of the benefits that are offered.
PTI owns its own pharmacy network, National Pharmaceutical Services (NPS). PTI owns its own mail order program, Integrated HMO PharmacySM.
Who owns PTI?
PTI is a privately-held corporation that was incorporated in 1993. These private individuals are professional executives that have practiced and, in many cases, may still be active in the pharmacy segment, physician segment, and the financial segment of healthcare. We are an independent PBM that grew up with corporate America!
How big is PTI?
Our numbers have created a buzz in the industry. Here is what our model has done for the first 15 years as a PBM:
- Over 2.3 million members have used the NPS Network SmartCard™ to date
- Over 63,500 pharmacies participate in the NPS SmartCard network
- Handles in excess of $750 million annually in benefits
- Over 3,500 plan sponsors have chosen to use our solutions
- Doing business in all 50 states in addition to some US territories
- 100 percent privately held
- 15 years of profitable operations
PTI is currently ranked as a top 10 group health PBM and top 5 work comp PBM by Business Insurance (March, 2009 Benefits Management section).
What markets does PTI serve?
PTI is active in pursuing opportunities in all segments of Pharmacy Benefits Management. We participate in self-insured, carrier-sponsored fully insured, stand alone stored valued cards, stand alone consumer programs, managed Medicare, managed Medicaid, work related injury, and other ancillary programs.
We do not discriminate on size! We have handled clients that are as small as 100 employees to clients that exceed 200,000 lives. We are committed to all equally with our solutions and have enjoyed the mutually rewarding relationships in the communities we serve!