Former MasterCard Advisors Services Chief, Booz Allen Senior Partner to Lead Nationwide E-Prescribing Network
ALEXANDRIA, Va., and ST. PAUL, Minn. - April 2, 2009 - Surescripts® today announced that Harry Totonis, an executive with extensive experience in information services and a track record of running successful network-based businesses, has been named president and chief executive officer, effective immediately. Surescripts owns and operates the country's largest national electronic prescribing network, connecting and enabling information sharing between thousands of physicians, pharmacies and payers nationwide.
As head of Advisors Services at MasterCard, the professional and information services arm of MasterCard Worldwide, Totonis expanded MasterCard into decision analytics and information-based products. He was responsible for a global team that spanned business development and sales, product innovation, technology development and customer delivery. During his tenure, Totonis developed and executed the strategy for Advisors Services' and MasterCard's information and analytics services - a board level initiative - while expanding service offerings and streamlining operations. This resulted in significant overall revenue growth and substantial increases to revenue and net income per employee for Advisors Services.
With Booz Allen Hamilton, Totonis focused on strategy consulting for large global companies across network-intensive sectors including technology, processing, consumer banking, insurance and airlines. In the course of his 14 years with Booz Allen, he served in several executive positions, including managing partner of the firm's global banking and insurance practice and as a member of the firm's executive leadership team. His clients included Visa International, American Express, IBM, JPMorgan Chase and others. Prior to MasterCard, as CEO of Kinexus, Totonis led the development and growth of a private banking network that enabled banks to share information and deliver better financial advice to their customers.
"By replacing cash with more efficient electronic payment vehicles, credit card networks drive benefits to banks, retailers and consumers," said Totonis. "By replacing paper prescriptions and the manual sharing of prescription history, eligibility and formulary information, the Surescripts network benefits thousands of physicians, pharmacies, payers, hospitals and patients across the nation every day. I am excited about Surescripts' position in helping to re-define health care for our country. Surescripts' neutral and nationwide network is uniquely positioned to enable all healthcare participants to improve patient safety and care, maximize efficiency and, ultimately, drive down costs. I feel privileged to have the opportunity to lead a company that can bring meaningful, lasting change to the nation's health care system at such a crucial time."
"Surescripts today is the result of the 2008 merger of two companies that were founded and owned by pharmacies and PBMs," said Bruce Roberts, executive vice president and CEO of the National Community Pharmacists Association and co-chairman of Surescripts. "Our goal was to help reinvent health care by making e-prescribing the standard for doctors, pharmacies, payers and patients. Surescripts has shown the significant benefits that are realized through e-prescribing - reducing costs, improving safety and efficiency - and we believe that Harry is the leader the company needs to guide us toward even greater success."
"As Medicare incentives, federal stimulus funding, and new state initiatives take hold, the momentum behind e-prescribing will grow," said John Driscoll, president, New Markets, Medco Health Solutions, Inc. and co-chairman of Surescripts. "The Surescripts network fundamentally improves the way medications are evaluated and prescribed. More and more, it will also improve the way providers keep track of medications and monitor the impact on patients' health."
In 2008, there were 4 billion prescriptions written in the U.S. Total expenditures on prescription drugs exceeded $310 billion. These figures are expected to grow significantly as baby boomers continue to age and require treatment for age-related conditions, presenting significant opportunities for Surescripts to connect physicians, patients and pharmacies and drive more efficiency and cost savings throughout the health care system.
JP Little and Rick Ratliff, longtime senior executives and co-CEOs since the merger, are planning to stay with the company.
"They have both been instrumental in building the largest national health infrastructure to support e-prescribing," said Totonis. "I am working with them to guide Surescripts through its next phase of leadership and growth."
Surescripts will maintain its existing office locations in St. Paul, Minn., and Alexandria, Va.
Founded by the pharmacy industry in 2001, SureScripts ® operates the Pharmacy Health Information Exchange ™, which facilitates the secure electronic transmission of prescription information between physicians and pharmacists and provides access to lifesaving information about patients during emergencies or routine care. Today, more than 95 percent of all pharmacies and all major physician technology vendors in the United States are certified on the Pharmacy Health Information Exchange. More information about SureScripts is available at www.surescripts.com.