CVS Caremark, Sharecare launch digital pharmacy savings card
Digital health company Sharecare is partnering with CVS Caremark, the pharmacy benefit management business of CVS Health, to launch 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.
Sharecare Rx, available exclusively through the free Sharecare app, will offer access to discounts on drugs within the CVS Caremark national pharmacy network.
In addition to helping people find the best price on both generic and branded prescription medications, Sharecare enables people to access information and tools to help them overcome some of the most significant barriers to medication adherence besides cost, such as convenience and education, the company said.
“Whether treating strep throat or managing a chronic condition, the modern healthcare experience cannot be comprehensive without medications, yet the burdens of choice and cost placed on people can be overwhelming,” Sharecare chairman and CEO Jeff Arnold said. “By partnering with CVS Caremark to build Sharecare Rx into our platform, we are removing barriers to empower consumers to truly manage all their health in one place. We are also actively working with our health plan and employer partners to integrate their formulary coverage and pricing into Sharecare so their members can seamlessly access their prescription benefits, as well as information and tools to help them adhere to a healthier regimen.”
Accepted at the more than 68,000 pharmacies in the CVS Caremark network — from such large national retail pharmacies as CVS, Walgreens and Walmart to locally owned community pharmacies — Sharecare Rx enables people to search for a specific medication, filtering results by drug price, pharmacy distance, and availability of 24-hour and drive-thru pharmacy services.
Once someone selects their preferred drug result, they can redeem the discounted price by presenting the Sharecare Rx card — found in the Sharecare app under You > Wallet — during checkout at a participating network pharmacy.
Sharecare Rx leverages CVS Caremark’s scale and expertise in negotiating lower medication prices with pharmaceutical manufacturers to bring Sharecare users affordable prices.
“As the high cost of prescription drugs continues to present a challenge for millions of Americans, we are committed to finding ways to help uninsured or underinsured populations access affordable medications,” CVS Caremark president Derica Rice said. “By leveraging our size, scale, expertise and access, this new program with Sharecare will help Americans, who lack prescription drug coverage, find lower-cost drug options at convenient pharmacy locations that encompass large chains and locally owned independent pharmacies.”