WOONSOCKET, R.I. — CVS Caremark has released its annual Drug Trend Report, which found that specialty medications accounted for 52% of drug spend in 2020. Specialty spending has recently increased due to several market conditions. David Steinberg, director of Pharmacy Insights at Scripta Insights, breaks down the history of this trend and what it really
WOONSOCKET, R.I. — CVS Caremark, the Pharmacy Benefit Manager (PBM) of CVS Health, is continuing its long-standing agreement to serve the Government-wide Service Benefit Plan. Since 1993, CVS Caremark has provided high-quality pharmacy care to the Service Benefit Plan to help federal employees, retirees and their families achieve prescription drug savings and better health outcomes, while
WOONSOCKET, R.I. — CVS Caremark, the pharmacy benefit management business of CVS Health, is working with clients to implement new measures to balance the burgeoning interest in off-label use of certain medicines to treat COVID-19 pneumonia with the ongoing needs of members who use these drugs for chronic conditions. These medicines include hydroxychloroquine, azithromycin, one
WOONSOCKET, R.I. — CVS Health announced Wednesday a new solution eliminating member out-of-pocket costs associated with all diabetes prescription medications, including insulin. Offered through the company’s pharmacy benefit manager (PBM), CVS Caremark, RxZERO enables employers and health plan sponsors to leverage formulary and plan design approaches to offer all categories of diabetes medications at zero
WOONSOCKET, R.I. — Drug prices continue to rise each year. Whether it’s treatments that have doubled in price due to inflation or new, life-saving therapies that come to market at astronomical prices, costs have gotten out of hand and much of the burden is falling on payers and their members. In 2017, CVS Health established
WOONSOCKET, R.I. — CVS Health announced Tuesday that Walmart has opted to leave the CVS Caremark pharmacy benefit management (PBM) commercial and Managed Medicaid retail pharmacy networks. Such a transition must place patient care as the highest priority and, as such, CVS Caremark has requested that Walmart continue to fill prescriptions as an in network participating
ATLANTA– Sharecare, the digital health company helping people manage all their health in one place, today announced the launch of Sharecare Rx, a digital pharmacy savings card to help people who are uninsured or may lack sufficient drug coverage save money on their prescription medications. Administered by CVS Caremark, the pharmacy benefit management (PBM) business
WOONSOCKET, R.I. — CVS Health is introducing a new approach to the pricing of Pharmacy Benefit Management (PBM) services. The new Guaranteed Net Cost pricing model simplifies the financial arrangements underlying PBM contracts and focuses on helping plan sponsors deliver savings through PBM cost management strategies such as formulary, utilization management and performance pharmacy networks. This
WOONSOCKET, R.I. – CVS Health announced that its pharmacy benefit manager CVS Caremark received NCQA Health Information Products (HIP) Certification in pharmacy benefits. This helps affirm that CVS Caremark, through its caremark.com website and customer call center, provides members with the information they need to understand and use their pharmacy benefits. NCQA’s HIP Certification is a
WOONSOCKET, R.I. — CVS Health announced today the latest milestones in the company’s more than six year effort to help address and prevent prescription opioid abuse and misuse. Over the past several months, the company has dramatically increased access to safe medication disposal sites, helped its clients reduce opioid utilization for members when clinically appropriate, strengthened
WOONSOCKET, R.I.— CVS Health has issued the following statement regarding Ohio Department of Medicaid’s report on PBM performance for managed care plans: “CVS Health is pleased that a report issued today that was commissioned by the Ohio Department of Medicaid (ODM) on pharmacy benefit manager (PBM) performance for the state’s Medicaid managed care plans confirms that our
NEW YORK — CVS Health has named former Eli Lilly and Co. chief financial officer Derica Rice as president of its CVS Caremark pharmacy benefit management unit. Plans call for Rice to take the helm at CVS Caremark on March 30, CVS said late Tuesday. The appointment was earlier reported by The Wall Street Journal.
WOONSOCKET, R.I., and HARTFORD, Conn. — Following mounting speculation over the past month, CVS Health has unveiled a cash-and stock-deal to acquire health insurer Aetna Inc. for $69 billion. CVS and Aetna said Sunday evening that under the merger pact, Aetna shareholders will receive about $207 per share, including $145 in cash and 0.8378 CVS
WOONSOCKET, R.I. — CVS Health has announced that its pharmacy benefits manager (PBM), CVS Caremark, will begin providing real-time visibility to member-specific medication costs and available lower-cost therapeutic alternatives at the point of prescribing and at the pharmacy. This enhanced visibility to the patient’s benefit across all points of care can help eliminate potential dispensing delays, improve