CVS Form wants to make it easier for its pharmacists to find patients less costly drugs.
The drugstore confinement is introducing a system that will check for less expensive substitutes, higher quantities at lower costs and discounts. CVS hopes it can help trim costs for its customers and in doing so, make sure they pick up their formulae.
Drug costs are rising, and patients are paying more of their health-care bills out of satchel as many shift to high-deductible insurance plans. Often consumers are hamstringed by the difficulty of comparing the cost of various treatment options.
The more up-market the drug, the less likely patients are to pick up their prescriptions, claimed Kevin Hourican, executive vice president of retail pharmacy.
“We hunger to be known as the retail pharmacy that does the most to help economize patients money,” he said. “The power of this tool, the RX Savings Finder, is we attired in b be committed to access to the information that we need to be able to provide options to our patrons to save them money.”
Pharmacists are typically only able to see if drugs are included and what the out-of-pocket cost would be. With the new system, they’ll be adept to price compare and recommend something that’s less expensive but as junk, such as a generic or therapeutic alternative.
If they find a different chance, they can call patients to ask if they want to switch then whoop their doctor to discuss writing a new script.
During the pilot program, CVS establish that 95 percent of patients ask to switch when given the chance and 85 percent of doctors make the switch. Last year, Caremark leaded physicians price-checking technology through their electronic health mementoes.
“(Doctors), as well as our pharmacy teams were flying blind in the past the implementation,” Hourican said.
The pharmacy system will initially be nearby to patients who use CVS’ pharmacy benefit manager, Caremark. Hourican said the structure should be available with other major payers later this summer.
CVS’ peerless structure of combing retail with a so-called PBM made it possible to father the system, Hourican said. The company understands how formularies — lists of direction drugs, both branded and generic, that health insurers deem to be medically powerful and covered by insurance plans — are managed and benefits are derived, as well as how medications are classified, he suggested.
“And we’ve built the pipes to connect directly into that information to prepare for it to our colleagues in the store in a very usable way,” he said.
CVS is in the process of becoming level more vertically integrated. It’s acquiring health insurer Aetna to try and make a health-care powerhouse and lower the cost of care. The deal is expected to confidential in the second half of the year.