In 2017, CVS Caremark established a hyperinflation drug removals program to help rein in skyrocketing pharmaceutical costs for its clients. This program reviews drug price inflation on a quarterly basis and removes drugs with especially big price tags with lower-priced, clinically equivalent alternatives.
CVS Caremark’s hyperinflation drug removal program was able to save clients more than $15 per 30-day supply, spending $88.30 on average (per 30-day supply) compared to $102.58 for those
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MyHealthTeams Lands $9.44M to Expand Social Networks for Chronic Condition Communities
MyHealthTeams Co-founders Eric Peacock and Mary Ray
MyHealthTeams, a San Francisco, CA-based creator of the largest and fastest-growing social networks for people facing chronic health conditions raised $9.44 million in a Series B financing round led by strategic investor UCB, a global biopharmaceutical company. This financing brings total investment in MyHealthTeams to $26.84M, building on the company's Seed and Series A1, A2 and A3 rounds. Existing investors including Adams Street Partners,
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Rite Aid’s New CEO, CommonSpirit Health Appoints First Chief Information and Digital Officer, Geisinger’s Chief Nursing Exec, Other Health IT Appointments
Rite Aid Corporation appoints Heyward Donigan as Chief Executive Officer (CEO) and a member of the Board, effective immediately. John Standley will step down from his role as chief executive officer. Prior to joining Rite Aid, Donigan served as the president and chief executive officer of Sapphire Digital (formerly Vitals), which designs and develops omnichannel platforms that help consumers choose their best-fit healthcare providers.
Since 2015, Donigan lead Sapphire Digital's strategy and
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CVS Uses Analytics to Expand Transform Diabetes Care Program
More than two years since its launch, pharmacy benefit manager (PBM) CVS Caremark’s Transform Diabetes Care program has helped PBM members better control their diabetes through a combination of highly personalized member support and coaching focused on improving medication adherence and better control of HbA1c. In fact, more than 50 percent of members with uncontrolled diabetes who enrolled in the program have moved to a controlled status and, on average, members have improved HbA1c by 1.2
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CVS Health Partners with Big Health to Help PBM Clients Manage Health and Wellness Benefit Solutions
CVS Health today announced
the availability of Vendor Benefit Management, a new service developed to help
CVS Caremark pharmacy benefit management (PBM) clients more easily contract,
implement and manage their choice of available and emerging third-party health
and wellness benefit solutions – both digital and non-digital. This new service
offers clients a seamless way to access negotiated pricing, standardized member
eligibility verification in real-time, simplified billing and
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CVS Health to Open 1,500 HealthHUB Locations By The End of 2021
CVS Health, today announced a significant expansion of HealthHUB locations at CVS Pharmacy stores across the country. Building on the success and customer response to its HealthHUB pilot in Houston, the company plans to open additional locations in Houston, Atlanta, Philadelphia, southern New Jersey and Tampa this year, and plans to have 1,500 HealthHUB locations operating by the end of 2021.Recent HealthHUB Pilot in HoustonFor the past six months, the company has been piloting three HealthHUB
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Talkspace Nabs $50M to Expand Telebehavioral Health Platform
Talkspace, a telebehavioral health company providing online therapy has raised $50M in funding led by Revolution Growth. Existing investors Norwest Venture Partners, Qumra Capital, Spark Capital and Compound Ventures, amongst others, will also participate in the round. Patrick Conroy of Revolution Growth will join the Talkspace board of directors. Additionally, the company announced a new partnership with Optum Health, which will expand Talkspace services to cover 5 million lives.Transforming
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CVS-Aetna Merger Impact : Consumers Open to Receiving Primary Care at CVS Clinics
The CVS-Aetna merger has the potential to create an integrated model for consumer healthcare that could transform the consumer experience; however, are consumers embracing the prospect of receiving care in a CVS retail pharmacy setting? According to new research from J.D. Power, forty-five percent of consumers said they would probably or definitely would use primary care services in a CVS retail pharmacy setting. CVS-Aetna Merger Consumer Impact Survey BackgroundJ.D. Power's December 2018 pulse
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2018 Healthcare M&A in Review: 4 Trends Reshaping the Healthcare Landscape
The trend of mergers between large healthcare provider organizations continued in 2018, as the average size in revenue of sellers (defined as the smaller of two organizations in a transaction) reached $409 million, according to Kaufman Hall's new report, 2018 M&A in Review: A New Healthcare Landscape Takes Shape. This is the highest figure seen since Kaufman Hall began tracking this metric in 2008. It also represents a compound annual growth rate (CAGR) of almost 14 percent in the average
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Blue Cross Expands Partnership with Lyft, Collabs with CVS & Walgreens to Send Patients to Pharmacies
In an effort to address the community effects of social determinants of health, the Blue Cross Blue Shield Association (BCBSA) today announced a first nationwide partnership with Lyft to ensure Americans are not missing vital health care appointments simply because they lack reliable transportation.This partnership exemplifies Blue Cross and Blue Shield’s (BCBS) commitment to bringing private and public entities together to improve community health in a manner that a health care organization
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