Tyson Foods drops CVS for upstart pharmacy benefit manager, as industry upheaval over cost concerns spreads
Publishing timestamp: 2024-01-24 12:20:26
Summary
Tyson Foods has chosen to switch from CVS' Caremark to PBM startup Rightway as its pharmacy benefit manager. Rightway guarantees to save employers 15% on pharmacy costs by using a transparent model and providing concierge care. This decision by Tyson Foods adds to the upheaval in the industry as startups challenge traditional benefit managers. The article discusses the challenges and lack of transparency in the industry and the potential impact of large employers turning to alternative PBM players.
Sentiment: MIXED
Keywords: health care industry, cvs health corp, tyson foods inc, cigna corp, business, business news, unitedhealth group inc,
Source: https://www.cnbc.com/2024/01/24/tyson-foods-drops-cvs-picks-rightway-pharmacy-benefit-manager.html