CVS Pharmacy, Walgreens to anchor CVS Health’s new performance-based network
WOONSOCKET, R.I. — A new performance-based network from CVS Health will bring together its CVS Pharmacy banner, Walgreens and roughly 10,000 independent pharmacies. The 30,000-store network, announced Tuesday, is aimed at reducing costs for members of CVS Caremark’s pharmacy benefit manager clients and improve health outcomes, the company said.
“Steadily increasing drug costs, and the current transition in health care from volume to value, require us to continually develop and implement innovative solutions to help our clients manage pharmacy costs while improving health outcomes,” CVS Health COO Jon Roberts said. “This partnership with Walgreens, CVS Pharmacy and independent pharmacies enables us to offer a new kind of pharmacy network that provides our clients with opportunities to improve health outcomes and lower overall health care costs, along with comprehensive, nationwide access to medications for their patients.”
Performance measures participating pharmacies will be evaluated on will include demonstrated medication adherence for such chronic conditions as diabetes, hypertension, behavioral health and respiratory conditions. The participating pharmacies are encouraged to implement proprietary processes and programs to deliver the results for measures being tracked.
"Walgreens is pleased to advance our commitment to improving patient care and health outcomes through improved medication adherence by participating in this new performance pharmacy network," Walgreens Boots Alliance co-COO and Walgreens president Alex Gourlay said. “This network recognizes that pharmacists do more than dispense medications – they are key members of the patient care teams and add value by helping and encouraging patients to take their medications as instructed, improving overall health and wellness while lowering costs for patients and payers. Tracking performance provides additional accountability and incentive to achieve measurable outcomes.”
CVS Caremark will make the network available for eligible PBM clients for implementation starting in March 2018, the company said.
"At CVS Pharmacy we know pharmacists play an important role in providing our patients with timely and relevant information about their prescription medications," CVS Pharmacy president Helena Foulkes said. "Given that our pharmacists are on the frontlines of health care in their role as a trusted healthcare provider, their interventions can help patients take their medications as directed by their physicians, ultimately improving outcomes and managing overall health care costs."
“Steadily increasing drug costs, and the current transition in health care from volume to value, require us to continually develop and implement innovative solutions to help our clients manage pharmacy costs while improving health outcomes,” CVS Health COO Jon Roberts said. “This partnership with Walgreens, CVS Pharmacy and independent pharmacies enables us to offer a new kind of pharmacy network that provides our clients with opportunities to improve health outcomes and lower overall health care costs, along with comprehensive, nationwide access to medications for their patients.”
Performance measures participating pharmacies will be evaluated on will include demonstrated medication adherence for such chronic conditions as diabetes, hypertension, behavioral health and respiratory conditions. The participating pharmacies are encouraged to implement proprietary processes and programs to deliver the results for measures being tracked.
"Walgreens is pleased to advance our commitment to improving patient care and health outcomes through improved medication adherence by participating in this new performance pharmacy network," Walgreens Boots Alliance co-COO and Walgreens president Alex Gourlay said. “This network recognizes that pharmacists do more than dispense medications – they are key members of the patient care teams and add value by helping and encouraging patients to take their medications as instructed, improving overall health and wellness while lowering costs for patients and payers. Tracking performance provides additional accountability and incentive to achieve measurable outcomes.”
CVS Caremark will make the network available for eligible PBM clients for implementation starting in March 2018, the company said.
"At CVS Pharmacy we know pharmacists play an important role in providing our patients with timely and relevant information about their prescription medications," CVS Pharmacy president Helena Foulkes said. "Given that our pharmacists are on the frontlines of health care in their role as a trusted healthcare provider, their interventions can help patients take their medications as directed by their physicians, ultimately improving outcomes and managing overall health care costs."