US FTC settles with health information firm Surescripts over antitrust lawsuit
Reuters
Published Jul 27, 2023 11:19AM ET
Updated Jul 27, 2023 12:58PM ET
By Kanishka Singh
WASHINGTON (Reuters) -The U.S. Federal Trade Commission on Thursday said it settled with Surescripts over a lawsuit accusing the health information technology firm of using illegal methods to maintain monopolies over two parts of the electronic prescriptions market.
The settlement will prohibit Surescripts "from engaging in exclusionary conduct and executing or enforcing non-compete agreements with current and former employees," the FTC said in a statement.
The FTC in its 2019 lawsuit had accused Surescripts, which provides electronic records and prescription services to doctors, pharmacists and patients, of requiring long-term exclusivity from customers and punishing them with high prices if they bought some prescriptions from another company.
"The FTC’s proposed order has a 20-year term and would prohibit Surescripts from engaging in the types of exclusionary conduct alleged in the FTC’s case," the agency said.
Surescripts provides a network that allows healthcare providers to send prescriptions to pharmacies electronically. It also contacts patients’ insurance companies to determine benefit eligibility.
"We're pleased that this agreement brings an end to the FTC’s litigation, formalizing changes to our business practices that we started several years ago, including the elimination of loyalty provisions in contracts," Surescripts said in a statement.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.