WOONSOCKET, R.I., March 8, 2018 /PRNewswire/ -- CVS Health (NYSE:
CVS) Chief Policy and External Affairs Officer Tom Moriarty spoke to attendees at the AHIP
National Policy Conference in Washington,
DC today about ways the health care company is addressing
the high cost of prescription drugs for payors and consumers.
Moriarty highlighted a variety of approaches, including a new
program that provides drug cost transparency for prescribers,
pharmacists and patients. He also discussed the company's existing
Point of Sale rebate offering which passes negotiated drug rebates
directly to consumers when they purchase their medications.
"With more and more consumers in health plans with high
deductibles, many are seeing the true cost of their medications for
the first time, often at the pharmacy counter when they go to pick
up their prescription," said Moriarty. "That is why we developed
and introduced a system that provides true cost transparency by
sharing member-specific drug cost information, formulary coverage
and available lower-cost alternatives with doctors at the moment
when they are writing the prescription."
Early results show that the vast majority of prescribers using
this real-time benefits capability enabled through their electronic
health record (EHR) have switched their patients' drug when it is
not covered on their formulary or if there is a less expensive
option available. In addition, this transparency empowers the
physician, pharmacist and patient to have a more meaningful
dialogue about appropriate medications and their costs, helping to
identify opportunities for lower out-of-pocket costs for
patients.
"Another way we help make prescription drugs more affordable for
consumers is through Point of Sale rebates, which we have offered
to our commercial clients since 2013," added Moriarty. "We
currently cover nearly 12 million people under this option, by
which the estimated value of negotiated rebates on branded drugs is
passed along to the consumer when they get their prescription."
About CVS Health
CVS Health is a pharmacy innovation
company helping people on their path to better health. Through its
more than 9,800 retail locations, more than 1,100 walk-in medical
clinics, a leading pharmacy benefits manager with more than 94
million plan members, a dedicated senior pharmacy care business
serving more than one million patients per year, expanding
specialty pharmacy services, and a leading stand-alone Medicare
Part D prescription drug plan, the company enables people,
businesses and communities to manage health in more affordable and
effective ways. This unique integrated model increases access to
quality care, delivers better health outcomes and lowers overall
health care costs. Find more information about how CVS Health is
shaping the future of health at www.cvshealth.com.
Contacts:
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Christine
Cramer
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Erin Britt
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CVS
Health
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CVS
Health
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(401)
770-3317
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(401)
318-3962
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christine.cramer@cvshealth.com
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erin.britt@cvshealth.com
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SOURCE CVS Health