What You Should Know:
– CVS Health today hosted its 2023 Investor Day, where the company outlined its strategy for driving reliable, diversified, and accelerating earnings growth while delivering superior care and value to millions of Americans.
– The company emphasized its commitment to leveraging its unique combination of assets to enhance its pharmacy and health care benefits businesses, expand its integrated care delivery offerings, and achieve sustainable financial performance.
Introducing CVS CostVantage: A New Model for Retail Pharmacy Reimbursement
In a significant move, CVS Pharmacy announced CVS CostVantage, a new reimbursement model that aims to bring greater transparency and simplicity to the pharmacy reimbursement system. This innovative approach will establish a transparent formula for drug cost and reimbursement, moving away from the traditional complex and opaque pricing structure.
CVS Caremark TrueCost: Enhancing Transparency in Prescription Drug Pricing
Building upon the success of its Choice Formulary program, CVS Caremark is introducing CVS Caremark TrueCost, a new model that provides clients with pricing that reflects the true net cost of prescription drugs, including visibility into administrative fees. This enhanced transparency will empower consumers to make informed decisions about their prescription drug purchases.
Introducing CVS Healthspire: A Unified Brand for Health Services
To showcase the integrated care delivery capabilities of its Health Services segment, CVS Health is introducing CVS Healthspire as the new branded name for this segment. This rebranding signals the company’s commitment to delivering seamless, connected care experiences for patients across its CVS Pharmacy, Caremark, Cordavis, Oak Street Health, Signify Health, and MinuteClinic brands.
