Navigation Links
CVS Caremark to Offer Medical Benefit Drug Management Services to Clients

WOONSOCKET, R.I., April 14, 2011 /PRNewswire/ -- CVS Caremark Corporation (NYSE: CVS) today announced a new medical benefit drug management service for the company's pharmacy benefit management (PBM) and specialty pharmacy clients.  The offering is the first of its kind to provide a comprehensive management solution for the buy-and-bill drug model currently used by physicians (whereby the physician purchases specialty medications, administers them to the patient and directly bills the payer).  The payer-centric offering will employ both prospective and retrospective drug utilization management strategies to drugs billed under the medical benefit, while ensuring minimal disruption to the physician's workflow and facilitating the delivery of evidence-based care.  CVS Caremark will work with New Century Health, a specialty care management company, to offer its clients integrated evidence-based medicine, treatment care pathways, quality improvement programs, and peer-to-peer review through an innovative web-based decision support platform.  This offering will be broadly available to CVS Caremark customers for implementation beginning January 1, 2012.


Management of specialty drugs under the medical benefit poses a significant challenge to health plans and employers today.  In fact, more than 50 percent of specialty drugs are billed under the medical benefit, many of which are administered in a physician's office.  Payers are less able to identify and apply effective clinical and cost management strategies, similar to those applied to specialty drugs billed under the pharmacy benefit, due to current medical claims, processing limitations and limited visibility to its clinical applications.  Through analysis of CVS Caremark data, it was found that among the company's PBM clients, cancer and associated supportive care specialty drugs -- such as hematopoietics for anemia and neutropenia -- account for approximately 53 percent of the total specialty drug spend billed to the medical benefit. As a result, CVS Caremark's new offering will initially focus on improving the quality, safety, and management of oncology drugs billed under the medical benefit. Estimated savings of up to 15 percent of a payer's oncology spend are expected.

"This offering will enable CVS Caremark to identify the unrecognized specialty pharmacy spend currently billed through the medical benefit for oncology patients," said Per Lofberg, President of CVS Caremark's pharmacy benefit management business. "By systematically tracking and analyzing this activity, we can provide our clients with an opportunity to better manage these expensive drugs while also improving the quality of care for their members."

About CVS Caremark

CVS Caremark is the largest pharmacy care provider in the United States with integrated offerings across the entire spectrum of pharmacy care.  We are uniquely positioned to engage plan members in behaviors that improve their health and to lower overall health care costs for health plans, plan sponsors and their members. CVS Caremark is a market leader in mail order pharmacy, retail pharmacy, specialty pharmacy, and retail clinics, and is a leading provider of Medicare Part D Prescription Drug Plans. As one of the country's largest pharmacy benefits managers (PBMs), we provide access to a network of approximately 65,000 pharmacies, including more than 7,100 CVS/pharmacy® stores that provide unparalleled service and capabilities. Our clinical offerings include our signature Pharmacy Advisor™ program as well as innovative generic step therapy and genetic benefit management programs that promote more cost effective and healthier behaviors and improve health care outcomes. General information about CVS Caremark is available through the Company's Web site at

About New Century Health

Headquartered in Brea, California with operations in Florida, Ohio, and Indiana, New Century Health delivers specialty care management solutions that leverage technology and evidence-based medicine at the point-of-care, with a focus on oncology and cardiology.  Our services promote the most effective treatment, reduce variability, improve clinical outcomes, and optimize cost-effectiveness. Our vision is to lead the specialty care management industry by harnessing the knowledge, technology, and innovation that power a higher quality of care and life.  The customers of New Century Health include both payers and providers working in all lines of business (including Medicare and Medicaid). New Century is a company of Water Street Healthcare Partners, a strategic private equity firm focused exclusively on health care.  To learn more about New Century Health, visit

Christine Cramer
Corporate Communications
CVS Caremark

Sid Stolz
New Century Health

Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. CVS Caremark Insights 2011 Report Highlights Lowest Drug Trend in Six Years and Increased Utilization of Generics
2. CVS Caremark Named One of Americas Most Reputable Companies by Reputation Institute
3. CVS Caremark Research Finds "Dispense as Written" Prescriptions May Add $7.7 Billion to Annual Health Care Costs
4. CVS Caremark Charitable Trust Makes Initial Donation of $100,000 to Relief Effort in Japan
5. CVS Caremark Announces Agreement With ActiveHealth Management for Evidence-Based Clinical Decision Support
6. CVS Caremark and Universal American Announce Termination of Hart-Scott-Rodino Waiting Period
7. CVS Caremark Awarded Pharmacy Benefit Management Institute Rx Benefit Innovation Award for Pharmacy Advisor Program
8. CVS Caremark Corporation to Hold Fourth Quarter 2010 Conference Call
9. CVS Caremark Study Evaluates Which Pharmacy Channel Consumers Choose When Given Choice of Mail or Retail Prescriptions
10. CVS Caremark Announces Interim Leadership for Retail Business
11. CVS Caremark Study Finds Patients with Complex Therapies Struggle to Stay Adherent to their Medications
Post Your Comments:
(Date:11/27/2015)... DUBLIN , Nov. 27, 2015 Research ... of the "Global Intrauterine Devices Market 2015-2019" ... --> In this report, the author ... intrauterine devices market for 2015-2019. To calculate the market ... of following type of products: Hormonal IUDs and copper ...
(Date:11/26/2015)... PUNE, India , November ... --> ... / personal emergency response system ... grow steadily for 5 years ... growing region expected to see ...
(Date:11/26/2015)... 26 november 2015 AAIPharma Services ... geplande investering aan van ten minste $15,8 ... en het mondiale hoofdkantoor in ... resulteren in extra kantoorruimte en extra capaciteit ... groeiende behoeften van de farmaceutische en biotechnologische ...
Breaking Medicine Technology:
(Date:11/27/2015)... ... ... Herpes-only dating community in the world, revealed that over 50% of its members are under ... under the age of 50 – or 67% of the population - are infected with ... infection . , "The data shocks us highly!" said Michelle Li, Co-Founder of the ...
(Date:11/27/2015)... ... , ... A simply groundbreaking television series, "Voices in America", which is hosted ... array of issues that are presently affecting Americans. Dedicated to providing the world with ... changing the subjects consumers focus on, one episode at a time. , In ...
(Date:11/27/2015)... ... 2015 , ... CBD College is proud to announce that on ... accreditation to its Diagnostic Medical Sonography program. CBD College is honored to join this ... colleges and universities in the state of California make the cut. CBD College is ...
(Date:11/27/2015)... ... 27, 2015 , ... Avid collector, Andrew Hawley from Vintage Rock Posters, announces ... This is one of Joplin's most famous and beautiful concert posters. The concert was ... in Ann Arbor. The According to Hawley, "It is hard to believe that Joplin's ...
(Date:11/26/2015)... ... November 26, 2015 , ... Inevitably when people think Thanksgiving, ... choose to buy during the Black Friday and Cyber Monday massage chair sales ... search the Internet high and low to find the best massage chair deals, they ...
Breaking Medicine News(10 mins):