At its 2023 Investor Day, CVS Health will introduce a new pharmacy reimbursement model, announce a new brand for its Health Services segment, and showcase continued growth opportunities for its businesses. CVS Pharmacy today announced CVS CostVantage, a new approach that evolves the traditional pharmacy reimbursement model. CVS CostVantage will define the drug cost and related reimbursement with contracted pharmacy benefit managers and payors, using a transparent formula built on the cost of the drug, a set markup, and a fee that reflects the care and value of pharmacy services. Following on from the launch of its Choice Formulary program earlier this year, CVS Caremark introduced TrueCost, a model innovation that offers client pricing reflecting the true net cost of prescription drugs, with visibility into administrative fees. CVS Caremark plans to launch CVS Caremark TrueCost in 2025.
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