RxAdvance Expands Executive Management Team

Southborough, MA – September 18, 2014 — RxAdvance, an innovative pharmacy benefit management (PBM) company, has expanded its executive management team with another industry veteran, Terry A. Ramey, who joins as Executive Vice President, Business Development and Client Engagement.

Terry A. Ramey, Executive Vice President, Business Development and Client Engagement, is responsible for all RxAdvance’s Sales and client relationship management. In addition, he will be instrumental in continuing to build upon RxAdvance’s strategic alliances to meet the evolving needs of the healthcare market place.
Terry brings over 25 years of leadership experience improving business results through effective collaboration with customers and strategic partners to streamline operations and improve service delivery. His track record of successful business development and process improvement spans all aspects of the Healthcare industry including Pharmacy Benefit Management, Medical, Vision, Behavioral, Health Services, Life and Retail Services with business models ranging from start-up to national corporations.

Prior to joining RxAdvance, Terry was EVP, CAO for HVHC, a subsidiary of Highmark Health Plan, focused on the integration of Highmark’s vision care businesses. HVHC is a full service national vision care provider that manufactures, distributes and provides managed care services for over 18M members. While at HVHC, Terry and his outstanding leadership team built and initiated the roll-out of a fully integrated retail/practice management solution for the retail business. Prior to HVHC, Terry was the VP, Operations and Client Services for PerformRx, a wholly owned subsidiary of Amerihealth Caritas. While at PerformRx, Terry was responsible for all service operations, client engagement, network development and clinical services and was instrumental in the expansion of PerformRX to the external Commercial, Medicaid and Medicare markets. Prior to PerformRx, he held executive leadership roles at Penn Mutual and CIGNA with a focus on innovation and a passion for operational excellence. While at CIGNA, Terry led the design and implementation of an integrated care management platform that enabled collaboration across all service areas to improve member health outcomes. Terry began his career at General Electric and worked across several GE facilities in numerous operational leadership roles.

“The PBM industry is known for ‘business as usual’ and has been challenged to bring real value to plan sponsors (health plans, ACO’s, FFS government programs, self-funded groups). The PBM space is filled with multiple, fragmented, inflexible, and homegrown legacy systems that are expensive to operate and unable to provide desired outcomes at the point of care and point of sale”, says Ravi Ika, Founder and CEO of RxAdvance. Ika adds, “Healthcare reform adds additional pressure on the plan sponsor’s PBM to demonstrate effective prescription benefit management through reduced adverse drug effects, better medication therapy management, improved prescription adherence, reduced fraud and abuse, increased usage of generics, and optimal usage of specialty medications. Such value-added services require us to think outside the box and achieve the highest degree of sophistication within RxAdvance.” Ika says, “Terry brings such extensive experience in innovative business process re-engineering and a game changing approach to collaborative customer engagement.”

Terry has a Bachelor of Science degree in computer science from The Ohio State University and an MBA with a concentration in Process Management from Wake Forest University. He also earned General Electric’s industry leading certifications in both the ISMP and FMP programs.

RxAdvance is now nirvanaHealth.

Since 2013, the RxAdvance team has been dedicated to disrupting the healthcare industry, specifically in pharmacy benefit management. After 3 years of development, we went live with our first client in 2016 and delivered groundbreaking pharmacy benefit management services. Now that we have proven success year-after-year, we have decided to expand our impact beyond just the PBM industry—onto the payer industry. These two industries alone control the majority of the healthcare spend in the United States, including the $900+ billion of waste generated annually. With our expansion into a new portion of the industry, we have outgrown the RxAdvance name, since it does not accurately capture the scope of our healthcare reach and mission. We are excited to announce our new name and brand—nirvanaHealth. The RxAdvance name has served us well for many years and will continue to do so under nirvanaHealth.