WOONSOCKET, R.I. — CVS Health reported Wednesday fourth-quarter earnings and revenue that beat Wall Street’s expectations, aided by higher sales in its pharmacy benefit management business. The company also announced some leadership changes, including the departure of CVS Caremark president Derica Rice and his replacement by Dr. Alan Lotvin, who had led CVS’ transformation efforts.
WOONSOCKET, R.I. — CVS Health on Tuesday announced the availability of Vendor Benefit Management, a new service developed to help CVS Caremark pharmacy benefit management (PBM) clients more easily contract, implement and manage their choice of available and emerging third-party health and wellness benefit solutions both digital and non-digital. This new service offers clients a
WOONSOCKET, R.I. — CVS Health and Walmart today announced the companies have reached a multi-year agreement on terms under which Walmart will continue participating in the CVS Caremark pharmacy benefit management (PBM) commercial and Managed Medicaid retail pharmacy networks. The companies are not disclosing the financial terms of the new contract. “We are very pleased to
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. — Former Eli Lilly and Co. finance chief Derica Rice has been named president of CVS Caremark, the pharmacy benefits management business of CVS Health. He succeeds Jon Roberts, who was promoted last year to the newly created position of chief operating officer of CVS Health. Rice will have day-to-day leadership and oversight
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.
INDIANAPOLIS — Eli Lilly and Co. has appointed Joshua Smiley as senior vice president of finance and treasurer. Lilly said Wednesday that Smiley, currently senior vice president of finance, controller and chief financial officer for Lilly Research Laboratories, assumes his new post on Oct. 1. He replaces Thomas Grein, who will retire in September after a