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Corp. prescribes hotel rate remedies: managing meetings at: Medco Health Solutions.

Article Excerpt
Three years after adopting an initiative to centralize corporate meetings and streamline sourcing, the corporate marketing department of Medco Health Solutions Inc. is focusing on offering stakeholders an idea up front of meeting cost and the alternative sites that could provide better value.

Linda Levy, senior manager of meeting and event planning in the company's corporate marketing department, said the department this summer plans to analyze costs for events at various U.S. cities and begin providing projected budget reports.

"We're trying to build some modeling around this so that, as programs come to us, we can give them a good estimate up front, before any of the hotel or other vendor sourcing happens. We could give them an idea of what a meeting for 50 people might cost in New York versus Dallas," she said.

Franklin Lakes, N.J.-based Medco is a pharmaceutical benefits management firm that processes almost 600 million prescriptions per...

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