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.
The National Community Pharmacists Association on Tuesday endorsed the Community Pharmacy Fairness Act of 2011 (H.R. 1839), legislation recently introduced in the House of Representatives by Rep. Anthony Weiner, D-N.Y.
CVS Caremark’s annual meeting of stockholders held Wednesday morning was an emotional and momentous occasion for the company as it marked the official retirement of Tom Ryan, former chairman and CEO, and the beginning of a new chapter as Larry Merlo takes the reigns as CEO.
Pharmacy benefit manager Medco’s research arm is teaming up with personalized medicine and pharmacogenetics company AssureRx Health in a pilot program to evaluate adherence and medical care utilization among patients taking antidepressants and antipsychotics.
Mississippi Gov. Haley Barbour recently signed into law the Mississippi Pharmacy Practice Act, which establishes oversight of pharmacy benefit managers (defined as nonresident pharmacies) by the Mississippi Board of Pharmacy.