Dec. 3, 2014—Mitchell International announced on Tuesday that it has signed an agreement to acquire the assets of Cogent Works, a leading provider of pharmacy network and benefit management services to the automobile casualty and workers' compensation markets.
This acquisition will allow Mitchell to provide a full end-to-end pharmacy solution to both auto and workers' compensation payers through the integration of Cogent Works' solutions.
Cogent Works operates both AutoRx and CompToday, which specialize in processing and managing P&C pharmacy prescription claims. AutoRx processes prescription claims for persons injured in automobile-related accidents.
CompToday provides comprehensive pharmacy benefit management services on behalf of workers' compensation payers. Together, Cogent Works' solutions help payers better manage pharmacy claims through its extensive network of over 60,000 retail pharmacy locations throughout the United States and its full suite of pharmacy management services.
"Mitchell and Cogent Works share a common vision to provide our customers with a truly differentiated solution to their pharmacy claims management challenges," Brian Anderson, CEO of Cogent Works said in a release. "Together, we believe the combination of both companies is essential to maximizing benefits for our customers and reducing costs associated with pharmacy claims."
Mitchell provides integration with other providers of pharmacy solutions, and offers the ability to review such claims through its bill review solutions. Cogent Works will complement Mitchell's current capabilities by expanding their ability to offer pharmacy management at the initial onset of injury. Leveraging the combination of Cogent Works connectivity to retail pharmacies and Mitchell's extensive customer network will provide a differentiated experience to patients, payers and pharmacies.