Methuen, MA— (April 5, 2012) Injured Workers Pharmacy (IWP), the leading national pharmacy service working on behalf of chronically injured individuals, today announced the appointment of Kenneth F. Martino Jr., as its President & Chief Executive Officer. Founder and former CEO Rick Stoddard is transitioning from day-to-day operations to take a position on the company’s Board of Directors.
Mr. Martino has worked in the insurance and workers compensation market for over 30 years most recently serving as President and CEO of Broadspire Services, one of the largest workers’ compensation third party administrators and medical management companies in the United States. He began his insurance career at the Travelers in Hartford, CT and served as a consultant with Tillinghast Towers Perrin and Senior Vice President with Specialty Risk Services. He is also a Chartered Property Casualty Underwriter (CPCU) and Certified Insurance Consultant (CIC).
“The ultimate goal for IWP is to provide uninterrupted care to injured workers, so they can get back to work as quickly as possible, reducing overall costs associated with workers’ compensation claims,” said Martino. “IWP has demonstrated a strong historical track record in serving the most chronically injured workers. Looking forward, we have the opportunity to improve the quality of the care that injured workers receive and create a network that assists the injured worker in addressing other important areas of their medical care. I am excited to be joining a very strong IWP team and working together to enhance the company’s position in the market.”
“We think Ken is the perfect leader for IWP at this time. We know he will enable IWP to continue to expand and grow our services and value proposition for all constituencies - payers, providers, attorneys, and injured workers - in the workers compensation market,” said Stoddard. “His wealth of insurance and workers’ compensation experience will be vital as we enhance our strategy for growth.”
IWP is a national pharmacy service working on behalf of chronically injured individuals. Fully licensed in 48 states, IWP removes the financial burden of the medication process by shipping medications directly to the patient and collecting payment from the insurance company. Through its state-of-the-art facility, IWP offers a full range of pharmaceuticals to ease pain and discomfort caused by injury, and meets each patient's individual needs through a dedicated team of pharmacists. In addition, IWP serves as a powerful resource to those who represent injured individuals. IWP serves attorneys and physicians by minimizing their staff's time and expense spent on medication and reimbursement issues. For more information on the company, please visit www.IWPharmacy.com.
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