Content about CVS Caremark

March 4, 2014

Drug Channels on Tuesday sized up the specialty pharmacy market. Last year specialty drugs accounted for 22% of all pharmacy revenue, and 63% of the specialty business is dispensed by three companies: Express Scripts, CVS Caremark and Walgreens.

PHILADELPHIA — Drug Channels on Tuesday sized up the specialty pharmacy market. Last year specialty drugs accounted for 22% of all pharmacy revenue, and 63% of the specialty business is dispensed by three companies: Express Scripts, CVS Caremark and Walgreens. According to Drug Channels estimates, the specialty pharmacy market generated $63.2 billion in 2013. 

February 28, 2014

Fred’s Super Dollar has visited CVS Caremark, Dollar General and Walgreens seeking bids for its Southeastern chain of discount stores, according to a report published Friday by Bloomberg News.

NEW YORK — Fred’s Super Dollar has visited CVS Caremark, Dollar General and Walgreens seeking bids for its Southeastern chain of discount stores, according to a report published Friday by Bloomberg News

Buyout firms including Miami-based H.I.G. Capital also were contacted, the report added.

February 24, 2014

CommonWell Health Alliance, the health information technology vendor-led interoperability effort, announced on Monday that CVS Caremark has joined as one of the newest contributing members of the organization.

ORLANDO, Fla. — CommonWell Health Alliance, the health information technology vendor-led interoperability effort, announced on Monday that CVS Caremark has joined as one of the newest contributing members of the organization.

CVS Caremark joins founding members Allscripts, Athenahealth, Cerner, CPSI, Greenway, McKesson and Sunquest and service provider RelayHealth in the Alliance's work.
 

February 21, 2014

CVS Caremark’s MinuteClinic has announced that it is switching from its own proprietary electronic medical record solution to Epic’s EpicCare system.

WOONSOCKET, R.I. — CVS Caremark’s MinuteClinic has announced that it is switching from its own proprietary electronic medical record solution to Epic’s EpicCare system.

"EpicCare's rich platform will allow us to continue to provide the highest quality of care and advance our services through a robust, world class EMR," said Andrew Sussman, president of MinuteClinic and SVP/associate chief medical officer of CVS Caremark.

February 21, 2014

CVS Caremark’s MinuteClinic is testing telehealth at more than two-dozen sites in California and is looking to expand the pilot to a second state.

The pilot program not only further illustrates CVS Caremark’s goal of creating a national platform to support primary care but it also speaks to larger trend playing out within the country’s healthcare landscape — telehealth.

CVS Caremark’s MinuteClinic is testing telehealth at more than two-dozen sites in California and is looking to expand the pilot to a second state.

The pilot program not only further illustrates CVS Caremark’s goal of creating a national platform to support primary care but it also speaks to larger trend playing out within the country’s healthcare landscape — telehealth.

February 18, 2014

Recent strategic business initiatives are granting wholesalers more generic drug purchasing power than ever before.

Recent strategic business initiatives are granting wholesalers more generic drug purchasing power than ever before.

Over the last few years, some major deals in the world of drug wholesaling have taken shape. While the business arrangements among the three top wholesalers differ slightly in terms of ownership, benefits and risks, one thing is for certain: all of the agreements will translate into growth opportunities for the companies involved and will help them improve their generic drug sourcing practices.

February 18, 2014

Now that most generics have declined in cost, plans will look for new ways to control health spend and ensure that generics are being used whenever possible.

Now that most generics have declined in cost, plans will look for new ways to control health spend and ensure that generics are being used whenever possible. Prescription drug spending is down, and generic drugs made up 77% of all 2012 prescriptions, according to the Centers for Medicare and Medicaid Services. Could this generic utilization percentage go even higher as a result of recent healthcare legislation?

Medicaid is increasingly becoming a managed care program, and states are looking to entities like pharmacy benefit managers to help them manage their drug spend.

February 13, 2014

New research conducted by CVS Caremark and Brigham and Women's Hospital identifies five key features of Value-Based Insurance Design plans that are associated with the greatest impact on medication adherence.

WOONSOCKET, R.I. — New research conducted by CVS Caremark and Brigham and Women's Hospital identifies five key features of Value-Based Insurance Design plans that are associated with the greatest impact on medication adherence.

The study, which is published online Thursday in Health Affairs and also will appear in the journal's March issue, was funded by a grant from the Robert Wood Johnson Foundation's Changes in Health Care Financing and Organization Initiative.

February 13, 2014

Led by former U.S. Senate Majority Leaders Tom Daschle, D-S.D., and Trent Lott, R-Miss., and former Senator John Breaux, D-La., the Alliance for Connected Care has been launched to promote policy reform around telehealth and remote patient monitoring.

WASHINGTON — Led by former U.S. Senate Majority Leaders Tom Daschle, D-S.D., and Trent Lott, R-Miss., and former Senator John Breaux, D-La., the Alliance for Connected Care has been launched to promote policy reform around telehealth and remote patient monitoring.

Board members of the Alliance include CVS Caremark, Walgreens, Teladoc, HealthSpot, Doctor on Demand, Welch Allyn, MDLIVE, Care Innovations, Cardinal Health, Verizon and WellPoint.

February 11, 2014

CVS Caremark released on Tuesday fourth-quarter results, which came in at the high end of expectations and helped produce a record year, but as expected, among the key topics of discussion during the conference call with analysts was the company’s recent decision to stop selling tobacco products in all of its stores by Oct. 1.

WOONSOCKET, R.I. — CVS Caremark released on Tuesday fourth-quarter results, which came in at the high end of expectations and helped produce a record year, but as expected, among the key topics of discussion during the conference call with analysts was the company’s recent decision to stop selling tobacco products in all of its stores by Oct. 1.

February 11, 2014

Forging ahead on its longer-term goal of creating a national platform to support primary care, CVS Caremark plans to open up at least 150 new MinuteClinic locations this year and is now testing telehealth at more than two-dozen sites.

WOONSOCKET, R.I. — Forging ahead on its longer-term goal of creating a national platform to support primary care, CVS Caremark plans to open up at least 150 new MinuteClinic locations this year and is now testing telehealth at more than two-dozen sites.

With a primary care physician shortage that is expected to reach 45,000 in 2020 and nearly half of patients indicating that they do not have a primary care physician, the role of MinuteClinic is no doubt becoming increasingly vital.

February 7, 2014

CVS Caremark made big news — BIG news — when it announced on Feb. 5 that it would pull tobacco products from all of its pharmacy locations.

This is an extremely important step for the company as it sends the strong message that it is truly dedicated to helping people on their path to better health. Stripping away the roughly $2 billion in revenues garnered from the tobacco shopper likely wasn’t an easy decision but it makes sense — a lot of sense — for CVS. It clearly demonstrates to its shoppers, health systems and PBM clients that it is placing patients’ health front and center.

CVS Caremark made big news — BIG news — when it announced on Feb. 5 that it would pull tobacco products from all of its pharmacy locations.

February 7, 2014

Several retail pharmacy chains and associations are pledging their support of the Blue Button Initiative — a public-private partnership between the healthcare industry and the federal government that aims to empower all Americans with access to their own electronic health information, the Office of the National Coordinator for Health IT and the White House Office of Science and Technology Policy have announced.

WASHINGTON — Several retail pharmacy chains and associations are pledging their support of the Blue Button Initiative — a public-private partnership between the healthcare industry and the federal government that aims to empower all Americans with access to their own electronic health information, the Office of the National Coordinator for Health IT and the White House Office of Science and Technology Policy have

In light of the evolving healthcare landscape, USA Today published an article on Friday about how pharmacists are increasingly working with doctors to assess patients, identify drug interactions and medication errors and, in some cases, even write a prescription.

The nation’s pharmacies are no longer just for prescription medications and states are proving to be the enablers to a broader the scope of practice.

In light of the evolving healthcare landscape, USA Today published an article on Friday about how pharmacists are increasingly working with doctors to assess patients, identify drug interactions and medication errors and, in some cases, even write a prescription.

February 6, 2014

McKesson confirmed that it has completed the previously announced agreement with Franz Haniel & Cie. GmbH to acquire their entire holding of Celesio shares.

SAN FRANCISCO — McKesson on Thursday confirmed that it has completed the previously announced agreement with Franz Haniel & Cie. GmbH to acquire their entire holding of Celesio shares. McKesson also confirmed it has completed the previously announced agreement with an affiliate of Elliott Management to acquire Celesio convertible bonds.  

McKesson now exceeds 75% ownership of Celesio shares on a fully diluted basis.

February 6, 2014

In response to CVS Caremark's announcement to pull tobacco products out of its stores, Walgreens stated that the category has been under review at its stores, too.

DEERFIELD, Ill. — In response to CVS Caremark's announcement to pull tobacco products out of its stores, Walgreens stated that the category has been under review at its stores, too.

Walgreens has been evaluating its tobacco line for “some time,” and said it “will continue to evaluate the choice of products our customers want, while also helping to educate them and providing smoking cessation products and alternatives that help reduce the demand for tobacco products,” noted Michael Polzin, Walgreens spokesperson.

February 5, 2014

CVS Caremark will participate in the American Heart Association's National Wear Red Day on Feb. 7, by encouraging colleagues at 7,600 CVS/pharmacy locations nationwide to wear red and create awareness of the battle against heart disease in women.

WOONSOCKET, R.I. — CVS Caremark will participate in the American Heart Association's National Wear Red Day on Feb. 7, by encouraging colleagues at 7,600 CVS/pharmacy locations nationwide to wear red and create awareness of the battle against heart disease in women.

February 5, 2014

In support of the health and well-being of its patients and customers, CVS Caremark announced on Wednesday that it will stop selling cigarettes and other tobacco products at its more than 7,600 CVS/pharmacy stores across the United States by Oct. 1, making CVS/pharmacy the first national pharmacy chain to take this step.

WOONSOCKET, R.I. — In support of the health and well-being of its patients and customers, CVS Caremark announced on Wednesday that it will stop selling cigarettes and other tobacco products at its more than 7,600 CVS/pharmacy stores across the United States by Oct. 1, making CVS/pharmacy the first national pharmacy chain to take this step. It also will undertake a robust national smoking-cessation program that will launch in the spring.

February 5, 2014

CVS Caremark was awarded the 2014 Rx Benefit Innovation Award by the Pharmacy Benefit Management Institute on Tuesday, the company reported.

WOONSOCKET, R.I. — CVS Caremark was awarded the 2014 Rx Benefit Innovation Award by the Pharmacy Benefit Management Institute on Tuesday, the company reported. The award recognizes the company's new Specialty Connect program, which was developed by CVS Caremark to improve access, quality of care and convenience for specialty pharmacy patients.

January 31, 2014

If you don't succeed the first time, try, try again. That's exactly what McKesson did when it announced that it reached an agreement with Franz Haniel & Cie. GmbH to acquire its entire holding of Celesio shares. And in a separate and subsequent agreement, McKesson also picked up the Celesio convertible bonds from Elliott.

Nothing good is ever easy. "While the path to securing this acquisition was certainly not what we had originally expected, it would seem that the interested parties to this transaction continued to see the compelling strategic benefit of McKesson and Celesio uniting to form a global leader in health care services," John Hammergren, McKesson chairman, CEO and president, said of the deal. "I never lost sight of the value this transaction will bring to our customers, our supply chain partners, the employees of both organizations and our shareholders."

If you don't succeed the first time, try, try again. That's exactly what McKesson did when it announced that it reached an agreement with Franz Haniel & Cie. GmbH to acquire its entire holding of Celesio shares. And in a separate and subsequent agreement, McKesson also picked up the Celesio convertible bonds from Elliott.

January 30, 2014

The loss of the Walgreens contract was a key consideration in Cardinal Health's 12% decline in overall revenue for the company's second quarter 2014, George Barrett, Cardinal Health chairman and CEO, told analysts Thursday morning.

DUBLIN, Ohio — The loss of the Walgreens contract was a key consideration in Cardinal Health's 12% decline in overall revenue for the company's second quarter 2014, George Barrett, Cardinal Health chairman and CEO, told analysts Thursday morning. Revenue totaled $22.2 billion. The loss of the Walgreens contract totaled $5 billion. 

But Cardinal Health is bullish regarding its future. Cardinal Health increased its outlook for the next six months, raising its non-GAAP EPS range to $3.75 to $3.85. 

January 29, 2014

Almost two-thirds of specialty pharmacy revenues are attributed to 1-of-3 companies, and the specialty pharmacy market is poised to explode, according to a Drug Channels Institute report.

PHILADELPHIA — Almost two-thirds of specialty pharmacy revenues are attributed to 1-of-3 companies, and the specialty pharmacy market is poised to explode, according to a Drug Channels Institute report released Tuesday. 

January 21, 2014

Mobile. It is changing the way in which customers manage their drug store needs whether it be filling a prescription, accessing health resources or buying products, and CVS/pharmacy is aiming to take the lead in today’s digital space with a slew of innovative offerings that are yielding some significant results.

WOONSOCKET, R.I. — Mobile. It is changing the way in which customers manage their drug store needs whether it be filling a prescription, accessing health resources or buying products, and CVS/pharmacy is aiming to take the lead in today’s digital space with a slew of innovative offerings that are yielding some significant results.

January 17, 2014

CVS Caremark has completed the acquisition of Coram, the specialty infusion services and enteral nutrition business unit of Apria Healthcare Group.

WOONSOCKET, R.I. — CVS Caremark has completed the acquisition of Coram, the specialty infusion services and enteral nutrition business unit of Apria Healthcare Group.

Coram is one of the nation's largest providers of infusion services, caring for approximately 165,000 patients annually. Coram has 4,600 employees, including 600 nurses, 350 pharmacists and 250 dietitians, operating primarily through 85 branch locations and six centers of excellence for patient intake.

January 16, 2014

CVS/pharmacy announced on Thursday the kickoff of its annual Project Health wellness campaign, which will deliver more than $15 million worth of free health services to multicultural communities across the United States in 2014.

WOONSOCKET, R.I. — CVS/pharmacy announced on Thursday the kickoff of its annual Project Health wellness campaign, which will deliver more than $15 million worth of free health services to multicultural communities across the United States in 2014.