CVS Pharmacy Upending How It Prices Prescription Medication

Published on December 6, 2023

Retail chain CVS Pharmacy announced it would overhaul how it pays for drugs in a move that it says will simplify costs and increase transparency. In an announcement on Tuesday, the firm stated that its more than 9,000 locations will be paid by contracted pharmacy benefit managers (PBMs) and payors using a formula that uses the cost of the drug. Described as a “transparent formula,” CVS said that it will be “built on the cost of the drug, a set markup, and a fee that reflects the care and value of pharmacy services.” The model, called “CostVantage,” will launch for commercial payors in 2025, CVS added....

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