A person walks by a CVS pharmacy store in Manhattan, New York, U.S., November 15, 2021.
Andrew Kelly | Reuters
CVS Health on Tuesday said it will revamp how it prices prescription drugs and scrap a complex model that typically sets how much pharmacies get reimbursed and what patients pay for those medications.
The new effort makes CVS the latest company to try to upend the traditional prescription drug pricing system, which has faced years of political scrutiny for what critics call a lack of transparency and inflated health-care costs for U.S. consumers.
CVS will launch a new model for reimbursing its pharmacies on Jan. 1, 2025 for commercial payors, executives said during the company’s 2023 investor day.
CVS’ new model could change the cost of prescription drugs for some patients, but it will not necessarily make all medicine cost less, company executives said. Some drugs may cost less, while prices of others might rise, they noted. But more prescription costs should fall than…
2023-12-05 16:04:15
Original from www.cnbc.com