Suffredin- An Advocate for All of Us  
 

Accountability
Forest Preserves
Public Safety
Cook County Budget
Forest Pres. Budget
Property Tax Appeal
Health & Hospitals
Land Bank Authority
Policy Resolutions
Unsung Heroine

 

   
 
   
   
 
   
     
  Office phone numbers:  
   
 
 

The Cook County Code of Ordinances are the current laws of Cook County.

   
 

Search current and proposed Cook County Legislation in Larry's exclusive legislative library.

   
  Cook County Hospital fills more outpatient prescriptions every day than are filled at 26 Walgreen's drug store combined.
   
     
     
     



Cook County proposes to sweeten drug contract with Catamaran

Thursday, November 14, 2013
Crain's Chicago Business
by Kristen Schorsch

 Catamaran Corp.'s contract to manage pharmacy benefits for Cook County's Medicaid expansion would jump nearly ninefold, to $26.8 million, according to a proposal from the Cook County Health & Hospitals System. The 11-month contract, which began as a $3 million agreement Feb. 1, is mushrooming as Cook County Health & Hospitals officials rush to accommodate the roughly 55,000 people who have enrolled in CountyCare, a managed care network for Medicaid recipients. Schaumburg-based Catamaran is one of the largest companies in the nation that runs prescription benefits for health plans, bargaining with drug companies to get better deals for its customers. At the start of the contract, the company provided only administrative services, a spokeswoman for Cook County Health & Hospitals said, with the county paying for the drugs. In May, the county expanded the scope of the contract so that Catamaran would pay for the drugs and be reimbursed. That increased the value of the contact, which ends Dec. 31, to about $15 million. “As our membership increased over time, the costs of medication did as well,” she said. The health system wants to expand the contract a second time, tacking on an additional $11.8 million. That would bring the total contract to $26.8 million. CountyCare, made possible under the Affordable Care Act, was launched in 2012. The program expanded Medicaid eligibility early for up to 115,000 people and is a key part of the health system's plan to generate revenue to lessen the burden on taxpayers. Catamaran's stock price has been battered a bit amid investors' worries that the rise of employer-run private health benefits exchanges will hurt revenue, which last year totaled $9.94 billion. The rise of those exchanges is expected to change who hires a prescription benefits manger, replacing Catamaran's typical client — company-sponsored health plans — with insurance companies and consulting firms, some analysts say. CEO Mark Thierer has dismissed those concerns. “We see great opportunities to participate in the expansion of health coverage in this country,” he told analysts during an Oct. 31 conference call to discuss third-quarter earnings, according to a transcript. Catamaran's shares, which peaked this year at $58.32 a share Aug. 6, closed yesterday at $48.20 a share, a 17.4 percent decline. Amid the uncertainty about private customers, the expansion of the Cook County contract demonstrates the growing importance of Medicaid to Catamaran. The company has contracts with eight state fee-for-service Medicaid programs, Mr. Thierer told analysts. Despite the risk of losing some big clients, Catamaran is likely to benefit from the growing number of people who will gain some form of coverage through the government-run health insurance exchanges, analyst Amanda Murphy of Chicago-based investment firm William Blair & Co. wrote in a Nov. 1 report. “Our analysis suggests that over the long term the benefit of added lives through the public exchanges at least offsets the risk of lives moving into private exchanges,” Ms. Murphy wrote. A spokeswoman for Catamaran declined to comment. The finance committee of the Cook County Health board is scheduled to consider the proposed contract increase tomorrow. The full hospital board, which is scheduled to meet Nov. 22, would have the final say.


Recent Headlines

Cook County Land Bank Authority Announces Opening of Registration to Give Away a Free Home
Tuesday, August 13, 2019
The Chicago Crusader

NEW ILLINOIS LAW ENDS $120 FEE TO CLEAR FALSE CRIMINAL RECORDS IN COOK COUNTY
Friday, August 09, 2019
Illinois Policy

Top Cook County Jail chess players take on the world
Wednesday, August 07, 2019
Chicago Sun-Times

Public defender takes shots at Chicago Police gun offender webpage
Wednesday, August 07, 2019
Chicago Sun-Times

Commentary: Data alone won’t stop Chicago gun violence; Cook County needs a public ‘Violence Reduction Dashboard’
Wednesday, August 07, 2019
Chicago Tribune

Cook County Jail detainees take on inmates around the world in online chess tournament
Tuesday, August 06, 2019
Chicago Tribune

Here’s What You Need To Know About The Ongoing Bail Debate In Chicago
Monday, August 05, 2019
WBEZ Chicago Public Radio

Cook County Jail hosts international chess tournament
Monday, August 05, 2019
WGN Chicago

Cook County property taxes are due today, Aug. 1.
Thursday, August 01, 2019
Special to suffredin.org

Forest Preserves of Cook County Celebrate Dan Ryan Woods Investments
Thursday, August 01, 2019
Chicago Defender

Cook County TIFs generate $1.2 billion
Thursday, August 01, 2019
Chicago Sun-Times

Changes coming to Cook County assessor’s office
Thursday, August 01, 2019
Chicago Daily Law Bulletin

In Chicago, TIF Revenues Soaring
Wednesday, July 31, 2019
WTTW News

A controversial tax subsidy program will generate a record $1.2 billion in revenue. Here’s what the number means for Chicago.
Wednesday, July 31, 2019
Chicago Tribune

Group to rally in support of Kim Foxx as challengers emerge
Tuesday, July 30, 2019
Crain's Chicago Business

Report: Incarceration Rates Drop Nearly 20% Under Kim Foxx
Monday, July 29, 2019
WTTW Chicago

Lightfoot blames bond court reform for gun violence
Thursday, July 25, 2019
Chicago Reporter

Cook County Health Hires Audit Firm To Review Scathing Inspector General Report
Thursday, July 25, 2019
WBEZ News

Former County Commissioner Shocked Animal Abuser Registry He Worked To Create Was Never Used
Thursday, July 25, 2019
CBS Chicago

No one on County Board sharing Arroyo’s view of inspector general
Wednesday, July 24, 2019
Chicago Sun-Times

all news items

Paid for by Larry Suffredin and not at taxpayer expense. A Haymarket Production.
^ TOP