Wipro to Implement Independent Health’s Medicare Prescription Payment Plan Platform

Rhea-AI Summary

Wipro, a leading technology services company, will implement the Medicare Prescription Payment Plan platform for Independent Health in Western New York. The platform aims to streamline prescription payments, introducing capped monthly payments for out-of-pocket drugs starting in 2025.

Positive

• Implementation of the Medicare Prescription Payment Plan platform will improve access to affordable treatments for Medicare recipients in Western New York.

• The new payment plan will strengthen Medicare by simplifying prescription cost management and integrating new provisions seamlessly.

• Wipro's innovative technology solutions demonstrate their commitment to transforming the Medicare landscape and enhancing efficiency and convenience for beneficiaries.

Negative

• Escalation of prescription drug pricing in the pharmaceutical industry poses challenges for members to afford their medications.

• While the platform aims to provide innovative solutions for healthcare needs, the effectiveness of the prescription drug payment program in maintaining the 5-Star rating from CMS remains to be seen.

Wipro’s Medicare Prescription Payment Plan Platform will streamline prescription payments

EAST BRUNSWICK, N.J. & BENGALURU, India--(BUSINESS WIRE)-- Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, today announced they have been selected by Independent Health, Western New York’s only 5-Star Rated Medicare Advantage Plan, to implement Wipro’s Medicare Prescription Payment Plan (MPPP360) platform for the upcoming open enrollment period.

Starting in 2025, the Medicare Prescription Payment Plan will allow enrollees to make capped monthly payments for out-of-pocket prescription drugs, amongst other changes. The new law aims to improve access to affordable treatments and strengthen Medicare.

Wipro’s MPPP360 platform will assist Independent Health in streamlining the payment process to seamlessly integrate these new provisions, simplifying prescription cost management for Medicare recipients in Western New York.

Narayan Iyer, Vice President, Healthcare, Wipro Limited, said “We are excited to introduce our Medicare Prescription Payment Plan360 platform, better known as MPPP360, to Western New York. This project exemplifies our dedication to transforming the Medicare landscape through innovative technology solutions. Together with Independent Health, we are committed to enhancing efficiency and convenience for beneficiaries, thereby elevating their healthcare journey.”

“Independent Health prides itself on being a leading, highly rated, Medicare Advantage plan. With the forthcoming changes to Medicare Part D, and the pharmaceutical industry’s continued escalation of prescription drug pricing, we want to make sure our members can afford their medications. It is important that our members have access to their medications and take them as prescribed to maintain their health and well-being,” said Dawn Odrzywolski, Vice President, Medicare Programs, Independent Health. “This prescription drug payment program complements our efforts to provide our members with innovative solutions to meet their varying healthcare needs, which in turn supports our efforts in achieving our industry leading 5-Star rating from CMS for three consecutive years.”

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.

About Independent Health

Independent Health is an independent, not-for-profit health plan headquartered in Buffalo, New York, providing innovative health care products and benefits designed to engage consumers in their health and well-being. Established in 1980, Independent Health offers a comprehensive portfolio of progressive products including HMO, POS, PPO and EPO products, Medicare Advantage and Medicaid plans, individual Exchange products, consumer-directed plans, health savings accounts, and coverage for self-funded employers. Our subsidiaries and affiliate companies include a third-party administrator of health benefits, pharmacy benefit management, specialty pharmacy and the Independent Health Foundation. In all, Independent Health and its affiliates serve a total of more than 550,000 lives across the country. Independent Health has been recognized nationally for its award-winning customer service, dedication to quality health care and unmatched relationships with physicians and providers. For additional information, visit www.independenthealth.com.

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

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Media Contact:

Wipro Media relations

media-relations@wipro.com

Source: Wipro Limited

FAQ

What is the Medicare Prescription Payment Plan platform implemented by Wipro for Independent Health?

Wipro will implement the Medicare Prescription Payment Plan platform for Independent Health in Western New York to streamline prescription payments, introducing capped monthly payments for out-of-pocket drugs from 2025.

What changes will the Medicare Prescription Payment Plan bring for enrollees?

The Medicare Prescription Payment Plan will improve access to affordable treatments and strengthen Medicare by simplifying prescription cost management and integrating new provisions seamlessly.

How does Wipro demonstrate its commitment to transforming the Medicare landscape?

Wipro's innovative technology solutions, like the Medicare Prescription Payment Plan platform, showcase their dedication to enhancing efficiency and convenience for beneficiaries in the healthcare sector.