CVS Pharmacy is debuting a new approach to its sales and reimbursement systems titled ‘CostVantage.’ This new reimbursement model will ensure that CVS is acting honestly and transparently while restructuring its contracts and payments systems to be simple and easy to understand. In order to achieve this, CVS will work with contracted benefit managers and payors.
When commenting on the launch of CostVantage, CVS Health’s executive vice president, Prem Shah, stated: “We are leading with an approach that will shift how our retail pharmacy is compensated by implementing a more transparent and sustainable model that fairly aligns pharmacy reimbursement to the quality services we provide,” continuing on to outline the centralized goal on clarity and transparency, stating: “It provides our PBM and payor clients a foundational step towards more pricing clarity for consumers.”
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