CVS to change how it prices prescription drugs with new pharmacy reimbursement model
Publishing timestamp: 2023-12-05 12:30:04
Summary
CVS Health plans to revamp how it prices prescription drugs, aiming to create a more transparent and predictable model. The new model, called CVS CostVantage, will reimburse pharmacies based on the cost of the drug, a defined markup, and a fee for handling and dispensing prescriptions. The company hopes this will address the lack of transparency and inflated costs in the current system. However, it is noted that while some drug prices may decrease, others may rise. The article also mentions the impact of billionaire Mark Cuban's online pharmacy venture and the broader efforts to rein in drug prices by the Biden administration.
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Keywords: breaking news, social issues, cvs health corp, business, pharmaceuticals, biotechnology, health care industry, biotech and pharmaceuticals, cigna corp, business news,
Source: https://www.cnbc.com/2023/12/05/cvs-to-change-how-it-prices-prescription-drugs.html