The Chain Drug Consortium on Thursday dispensed a formal letter to the U.S. Federal Trade Commission expressing its opposition to the proposed merger of pharmacy benefit management companies Express Scripts and Medco Health Solutions.
A bill awaiting a signature or veto from New York governor Andrew Cuomo that would restrict home delivery of chronic medications has attracted criticism from the Federal Trade Commission and the pharmacy benefit manager lobby.
The National Community Pharmacists Association on Monday issued a number of recommendations to the U.S. Office of Personnel Management, which is responsible for contracting with at least two multistate plans that will offer coverage through exchanges that come online in 2014, and that will provide consumers with additional health insurance options.
CVS Caremark posted second-quarter results that were at the high end of its guidance and narrowed its 2011 outlook on continued confidence. But it was the pharmacy benefit management business — and the potential merger of PBM rivals Express Scripts and Medco Health Solutions — that was top of mind for many industry observers, and was a topic that CVS Caremark president and CEO Larry Merlo hit head-on at the start of Thursday morning’s conference call.
A survey of 1,850 members of the National Community Pharmacists Association released Wednesday has identified two rising problems: 1) pharmacy audits often punish pharmacies severely for trivial issues and 2) because pharmacies are not privy to basic reimbursement methodology prior to signing contracts with health plans, reimbursements are "both lowered arbitrarily and raised belatedly in response to generic drug cost increases."
The ink has barely dried on the acquisition agreement between pharmacy benefit management giants Express Scripts and Medco Health Solutions, but several groups already are seeing smudges — most recently, a trade organization representing independent specialty pharmacy providers.
Walgreens on Wednesday directly appealed to benefit consultants with a letter apprising them of the chain’s withdrawal from Express Scripts’ pharmacy provider network, effective Jan. 1, 2012, and educating those consultants of the healthcare value that Walgreens still can deliver without Express Scripts.
The U.S. Department of Health and Human Services on Monday proposed a framework to assist states in building Affordable Insurance Exchanges, state-based competitive marketplaces where individuals and small businesses will be able to purchase affordable private health insurance.
Soon after reporting double-digit earnings per share growth Tuesday morning, Walgreens announced it would forego as much as $5.3 billion in annual sales, representing some 7% of the company’s business and 90 million prescriptions, as it walks away from its relationship with pharmacy benefit manager Express Scripts.
CVS Caremark will launch a pilot of a real-time, integrated electronic prior authorization capability, available to its pharmacy benefit management clients, to help speed access to prescription medications.
Pharmacy benefit manager Medco Health Solutions is implementing a program in New Mexico designed to close such medication-related gaps in health care as nonadherence among state employees with chronic conditions, the company said Wednesday.
Moody's Investors Service compared the three largest pharmacy benefit managers — CVS Caremark, Express Scripts and Medco Health Solutions — in a report issued Tuesday. While it maintained a positive view of all three, it gave CVS Caremark the highest credit rating.
CVS Caremark has donated approximately $40,000 in monetary and in-kind donations to support residents of Joplin, Mo., including some of the company's pharmacy benefit manager clients and their members who were impacted by the recent tornado, the company announced on Friday.
Why is the news that CVS Caremark has secured the mail-order and specialty prescription drug benefit for Federal Employee Program so important? Well, some pundits might say there is no indication that the integrated retail-pharmacy benefit manager model had anything to do with why FEP chose Caremark over Medco. It doesn't matter. As any football coach would say, "A win's a win," and this is a big one.
In a major win for its pharmacy benefit management business, CVS Caremark will handle the $3 billion mail-order and specialty prescription drug benefit for the Federal Employee Program starting January 2012, which, for the last three years, had been handled by rival Medco Health Solutions.
Telecommunications provider Verizon Wireless and pharmacy benefit manager Medco Health Solutions have unveiled a mobile application that the companies said would allow patients and their doctors to instantly find the lowest-cost prescription drugs to meet their health needs and identify potentially harmful drug interactions.