Blue Shield of California recently switched up its pharmacy benefit model by distributing responsibilities to several different vendors. The model has the potential to increase drug costs, but it remains to be seen, according to Creagh Milford, SVP of retail health at CVS Health.

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Pharmaceutical industry observers say CVS Health’s creation of Cordavis, a new biosimilar drugs company, is part of a strategy to make its move into this market as profitable as possible.

The post What CVS Stands to Gain by Setting Up Biosimilar Subsidiary Cordavis appeared first on MedCity News.

There are a lot of administrative hurdles behavioral health providers have to go through to join an insurer’s network. That’s why the industry needs something similar to the “Common App” for applying to be in-network with insurers, said Cara McNulty, president of behavioral health and mental wellbeing at CVS Health. The Common App allows students to apply to multiple colleges through one application.

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CVS Health is winding down its clinical trials business, with a full exit expected by December 31, 2024, the company confirmed to MedCity News. But decentralized clinical trials still have an important role to play, said Brian Weiss, CEO of Carebox.

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New CVS Health data found that while 42% of respondents are concerned about their mental health, only 12% are seeing a mental health professional, such as a psychiatrist, psychologist, psychotherapist or wellbeing therapist. Younger respondents are especially struggling: 60% of those aged 18 to 32 years old are concerned about their mental health.

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Artificial Intelligence shows great potential for behavioral healthcare, but it has a ways to go, said Taft Parsons III, vice president and chief psychiatric officer of CVS Health. He made these comments Tuesday at the HIMSS 2023 conference in Chicago.

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At the AHIP Medicare, Medicaid, Duals and Commercial Markets Forum held last week, two healthcare leaders from the Centers for Medicare and Medicaid Services (CMS) and CVS Health stressed that reducing maternal health disparities is a top priority, with several strategies at play. For CMS, the focus is on encouraging states to extend Medicaid postpartum coverage, while CVS Health is working to leverage doulas in their care delivery.

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A new CVS Health survey found that 76% of adults agree that telehealth is more convenient than other healthcare options. Additionally, 75% agree that it is more flexible, 75% believe that it is easier to schedule appointments and 77% said that it is quicker to provide care. The percentages varied slightly by generation, although a vast majority of each age group still said they agreed with these characteristics for telehealth.

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The largest six pharmacy benefit managers are being scrutinized by the Federal Trade Commission, while Congress is debating the Pharmacy Benefit Transparency Act. Meanwhile, states have their own ideas for reining in what they see as excesses of the industry. With all this heat, what is the message from the head of the Pharmaceutical Care Management Association?

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Analysts predict that disruptors could own as much as 30% of the $260 billion primary care market by 2030. A recent report from the American Hospital Association outlines major moves the healthcare industry should be watching this year from disruptors like Amazon, CVS and Walgreens — from billion-dollar acquisitions of primary care companies to expanding clinic locations to efforts in the home care space.

The post Which Moves Should Providers Watch From Amazon, CVS & Walgreens This Year? appeared first on MedCity News.

Rumors of the deal first surfaced in January, with some dismissing the idea. Several experts say the deal makes sense for CVS Health, as it looks to expand into primary and value-based senior care.

The post Will it? Won’t It? CVS Health To Finally Acquire Oak Street Health for $10.6B appeared first on MedCity News.

The Community Equity Alliance aims to grow the community health workforce, advance the connections between healthcare institutions and communities, and improve disparities in heart health and mental health. The first organizations working with CVS Health are Meharry Medical College, Sinai Chicago and Wayne State University.

The post CVS Health Creates Community Equity Alliance To Improve Health Disparities appeared first on MedCity News.

The 41st annual J.P. Morgan Healthcare Conference concluded last week. After the pandemic prompted it to go virtual, it was back in person, smaller in size and more effective. Here are my takeaways.

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CVS Health announced investments this week in Carbon Health, Monogram Health and Array Behavioral Care. There have also been rumors that the company is exploring a $10 billion deal with primary care company Oak Street Health.

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CVS Health invested $25 million in Array Behavioral Care, a provider of virtual mental health care. Last year, Array’s clinicians had more than 400,000 encounters with patients.

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Whether it was Amazon’s buy of One Medical or CVS Health’s acquisition of Signify Health, retailers made waves in healthcare this year. Across all of the deals, it’s clear that expanding access to medical services is the key goal, experts said. And this is only the beginning.

The post All About Access: The Key Trends In Retailers’ Acquisitions in 2022 appeared first on MedCity News.

Healthcare organizations need to have clear and specific goals in order to make real change in reducing health disparities, executives from SCAN Health Plan and CVS Health said. The insurer is tackling medication adherence in Hispanic members and flu vaccination rates in Black members, while the retailer is taking on women’s health, heart health and mental health.

The post Declarations Aren’t Enough. Health Equity Needs Action, Healthcare Execs Say appeared first on MedCity News.

Requiring that PBMs bid on a per member per month guarantee would reduce the employer’s uncertainty by securing the actual per member per month cost to the employer.

The post Getting off the PBM Merry-go-Round: How Late-stage Offer Tricks Take Employers for a Ride appeared first on MedCity News.

The settlement terms are still being negotiated and the final settlement depends on the number of states, counties, and Native American tribes that agree to join

The post CVS, Walgreens Will Pay $10 Billion Total To Settle Opioid-Related Lawsuits appeared first on MedCity News.

Walgreens Boots Alliance recently announced it will acquire its remaining 45% stake in home care company CareCentrix for $392 million. The news follows CVS Health’s plans to acquire Signify Health. While retailers could prove beneficial to home health, it’s too early to tell, experts said.

The post Are retail companies the right fit for home health? Remains to be seen, experts say appeared first on MedCity News.

Among CVS Health’s adult members, there was a 34.1% decrease in suicide attempts in 2022, compared to 2019. However, there was a 32% increase among adolescents, largely due to challenges from Covid-19. In response, CVS Health is expanding its resources with new initiatives that focus on adolescents.

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[Sponsored] Retail pharmacy chains and Amazon are transforming themselves into omnichannel healthcare providers, developing primary care services and virtual tools through acquisitions, partnerships and investments.

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CVS Health reportedly beat out other big names, including Amazon and UnitedHealth Group. Signify Health has a network of more than 10,000 clinicians in all 50 states and a nationwide value-based provider network.

The post Analyzing CVS Health’s $8B buy: There’s no place like home appeared first on MedCity News.

Through the project, 142 rental homes will be renovated and eight new ones will be built. A childcare center will also be created to help alleviate the childcare desert in the area. CVS Health is the latest in healthcare companies to make major investments in social determinants of health.

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An expert industry observer said CVS Health’s move into primary care is both offensive and defensive, but perhaps more importantly a natural evolution of a company with such a large healthcare footprint.

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While 92% of consumers said virtual care adds convenience when choosing a primary care provider, those accessing virtual mental healthcare had different responses to how convenient/private it was based on age and race, CVS Health data showed. 

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[Sponsored] Hear from healthcare executives such as CVS Kidney Care President Lisa Rometty, Komodo Health CEO Dr. Arif Nathoo, and McKesson Ventures Partner Michelle Snyder on how they’re thinking about digital transformation in healthcare in a series of interviews at ViVE.

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With footprints in local communities across the country, retailers have the food, the medicine, the pharmacist and now even the access to local and convenient care consumers need.

The post From picking up groceries to primary care: How digital health can help retailers become a one stop shop   appeared first on MedCity News.

CVS MinuteClinic providers will use Medable’s software platform to improve patient access, engagement and retention during clinical trials. Meanwhile, Thermo Fisher Scientific and Medidata Acorn AI announced a collaboration to develop an application that combines patient recruitment and site performance data for clinical trials.

The post 2 collaborations – CVS Health with Medable, and Thermo Fisher Scientific with Medidata Acorn AI – seek to improve clinical trials appeared first on MedCity News.

At its first investor day since the start of the pandemic, CVS Health detailed plans to open primary care centers and integrate them with its other health services. At the same time, CVS plans to close 900 stores as it focuses on this new strategy.

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