Posted by Michael Wonder on 05 Dec 2018
CVS Health promises a new drug plan to pass all rebates along to consumers
5 December 2018 - Amid deepening criticism of the pharmaceutical industry and drug prices, CVS Health announced a new prescription plan “guaranteed net price” model through a press release.
CVS Health claims the approach will be “a simpler economic model … to provide predictable drug costs” to consumers, said Derica Rice, president of the company’s CVS Caremark division, in the statement.
What that means is that CVS Caremark would pass through rebates, discounts, and other fees paid by drug companies to pharmacy benefit management companies, or PBMs. There has been growing criticism that the PBMs and insurance company make money from the pharmaceutical manufacturers’ discounts by pocketing them and leaving prices to consumers as normal.
