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Mesfin Tegenu is President of PerformRx, the pharmacy benefit management division of the AmeriHealth Mercy Family of Companies. PerformRx currently provides pharmacy focused administrative, operational, product cost control, and utilization management services to more than two million individuals nationwide. With almost 20 years of experience in managed care pharmacy practice, Mr. Tegenu provides vision and general guidance for PerformRx's operations. In addition, Mr. Tegenu is responsible for growing business opportunities within the existing client base, as well as developing new business interests nationally.
Mr. Tegenu, with the help of an energetic and creative staff, created PerformRx after successfully developing a comprehensive in-house pharmacy benefit management program for Keystone Mercy, an affiliate of the AmeriHealth Mercy Family of Companies, which generated over one hundred million dollars in savings in five years. Today, PerformRx provides quality pharmacy benefit management services nationwide generating considerable savings for its clients. Mr. Tegenu is one of the pioneers in developing a comprehensive high cost injectable drug management program to help payers understand and manage this complex and fast growing segment of the industry. PerformRx’s first such program was developed and implemented in 2001. This program consolidated responsibility for the oversight of injectable products to a single management entity and was instrumental in helping reduce overall injectable drug costs by over 20%.
Mr. Tegenu also directed the inception and development of PerformRx’s Medicare Part D program. In 2006, PerformRx entered into the Medicare market, offering Part D services across the country. Through his continuous quest for excellence, Mr. Tegenu has managed to make PerformRx among the first URAC accredited PBMs in the country. Mr. Tegenu has unique expertise in the pharmacy benefit management landscape, both in commercial and government funded industries. This has been a guiding force in the growth and expansion of PerformRx’s services.
Prior to his current role, Mr. Tegenu held a number of management and executive positions. His broad range of experience in the field of managed care pharmacy provides him with the knowledge and expertise required to resolve both commonplace and unique problems encountered when providing a comprehensive pharmacy benefit.
In addition to his New York State Pharmacy license, Mr. Tegenu holds a Bachelor of Pharmacy degree from Addis Ababa University, Addis Ababa, Ethiopia, and a Masters of Science degree from St. John’s University, Jamaica, New York.
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