Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  CVS Health    CVS

News SummaryMost relevantAll newsSector newsTweets 

CVS Health : Enhancing the Specialty Management Model

share with twitter share with LinkedIn share with facebook
share via e-mail
06/12/2017 | 12:28pm CEST

Release date- 09062017 - Trip Hofer, Vice President of Product Development at CVS Specialty, recently spoke at the AHIP Institute and Expo on the unique challenges and opportunities of managing specialty drugs across pharmacy and medical benefits. Here, he discusses how we use technology to enhance payors' visibility and control of their specialty pharmacy claims, which can result in streamlined processes and better cost savings.

Managing specialty drugs is more complex than managing traditional prescription drugs, and it becomes even more challenging when some of these specialty drugs are paid for under the medical benefit, when claims are adjudicated and paid for the same way as medical services.

Consider the facts:

Nearly half of specialty spend is administered under the medical benefit.

This is expected to grow in the coming years as more than one-third of drugs currently in the specialty pipeline through 2018 will be managed under the medical benefit.

Infused specialty medications are estimated to account for $35 billion of the specialty market, and growing.

In addition, when drugs are managed under the medical benefit instead of the drug benefit it can complicate cost-saving utilization management programs, drive up spending and fragment patient care, not to mention create administrative burdens for the insurer and prescriber.

There is a better, more efficient way for insurers to streamline medical benefit management when it comes to specialty drugs, and at CVS Health, we are leading the way with the implementation of automated prior authorization and claims management for medical benefit specialty medications through a proprietary technology called Novologix.

Through our approach, we enable a seamless process that starts at the point of prescribing, where a web-based portal verifies patients' benefits and eligibility for certain medications. In addition, the technology integrates the prior authorization process and can also help identify clinically inappropriate dosing of medications and adjust the claims before adjudication. As part of this, we can also use the technology to help direct patients to the optimal and most cost effective site of care for infusion therapy.

This approach can produce results that include:

Savings of up to 19 percent for specialty drug medical spend;

$40 million in total savings in 2016 for a typical health plan covering one million lives from automated prior authorization;

Improved efficiency of prior authorization for providers, patients and the plan sponsor; and

Up to $7.5 million in savings when insurers help guide members away from more expensive hospital outpatient sites to alternate sites for high quality infusion care.

For more information on how CVS Health is working to ensure consumers have access to affordable medications, visit our Rising Drug Prices information center. And to stay informed about the most talked-about topics in health care, register for content alerts and our bi-weekly health care newsletter.

(c) 2017 Electronic News Publishing -, source ENP Newswire

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on CVS HEALTH
10:54a CVS HEALTH : SXU Featured in CVS Health Report
06/27 CVS HEALTH : Today's Research Reports on Stocks to Watch: Rite Aid and CVS Healt..
06/23 CVS HEALTH : appeals to the City Council in its effort to move into Laguna Drug ..
06/21 CVS HEALTH : Points of Light Recognizes CVS Health As One Of The 50 Most Communi..
06/21 CVS : Experts Discuss How Medicaid Innovations Reduce Costs and Increase Access ..
06/21 CVS HEALTH : Monroe County's tax battle with CVS not over
06/19 CVS HEALTH : Today's Research Reports on Stocks to Watch: CVS Health and Walgree..
06/16 CVS : By the Numbers: Real-World Impact of Rising Drug Costs
06/15 CVS HEALTH : Pharmacy Now Using Time Delay Safes in Ohio for Controlled Substanc..
06/14 CVS HEALTH : Medicaid as a Driver of Care Innovation
More news
Sector news : Drug Retailers - NEC
06/22DJWALGREENS BOOTS ALLIANCE : Theranos, Walgreens to Settle -- WSJ
06/21DJWALGREENS BOOTS ALLIANCE : Theranos, Walgreens Reach Deal to Settle Lawsuit--Upd..
06/21 STADA ARZNEIMITTEL : Low acceptances leave Stada bid down to the wire
06/21DJWALGREENS BOOTS ALLIANCE : Theranos, Walgreens Reach Deal to Settle Lawsuit
06/20 U.S. Supreme Court again limits where companies can be sued
More sector news : Drug Retailers - NEC
News from SeekingAlpha
06/27 WALGREENS/CVS : Good Free-Cash-Flow, But Now In Amazon's Sights
06/26 How To Beat XLP For The Active Investor
06/26 Smart Beta Dividend Growth Stocks
06/26 Sifting Through The Retail Wreck
06/23 The MnM Portfolio, June 2017 Supplement - How Amazon-Proof Is The Portfolio?
Financials ($)
Sales 2017 184 164 M
EBIT 2017 10 168 M
Net income 2017 5 376 M
Debt 2017 24 614 M
Yield 2017 2,45%
P/E ratio 2017 15,60
P/E ratio 2018 13,84
EV / Sales 2017 0,58x
EV / Sales 2018 0,55x
Capitalization 82 003 M
More Financials
Duration : Period :
CVS Health Technical Analysis Chart | CVS | US1266501006 | 4-Traders
Full-screen chart
Technical analysis trends CVS HEALTH
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 87,1 $
Spread / Average Target 8,2%
Consensus details
EPS Revisions
More Estimates Revisions
Larry J. Merlo President, CEO & Non-Independent Director
David Wyatt Dorman Non-Executive Chairman
Jonathan C. Roberts Chief Operating Officer & Executive Vice President
David M. Denton Chief Financial Officer & Executive Vice President
Troyen A. Brennan Chief Medical Officer & Executive Vice President
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CVS HEALTH2.00%82 003
More Results