OptumRx and CVS Pharmacy Partner to Expand Consumer Choice, Reduce Costs and Improve Health Outcomes
November 29 2016 - 8:43AM
Business Wire
Strategic relationship brings together
OptumRx’s leading pharmacy care services with CVS Pharmacy’s
leading in-store health and wellness capabilities, helping to
engage consumers in a more valuable health care experience
OptumRx clients and members will now have more
convenient choices for filling 90-day prescription options at
pharmacies nationwide
OptumRx and CVS Pharmacy are partnering to provide more
convenient choices and lower costs for consumers and clients while
improving health outcomes. OptumRx is UnitedHealth Group’s [NYSE:
UNH] free-standing pharmacy care services business, managing more
than one billion prescriptions annually. CVS Pharmacy, the retail
division of CVS Health [NYSE: CVS], is America’s leading retail
pharmacy, with more than 9,600 retail pharmacies across the
nation.
The strategic relationship will bring together complementary
capabilities to provide greater convenience and value. Together,
the two companies will offer employers a new pharmacy network
solution that:
- Provides eligible OptumRx members the
option to fill 90-day prescriptions at prices equal to home
delivery copay levels at CVS locations nationwide or through
OptumRx home delivery;
- Increases consumer engagement and
improves health outcomes through the combination of OptumRx’s
leading pharmacy and clinical solutions with CVS Pharmacy’s leading
in-store health and wellness capabilities;
- Enables OptumRx and CVS Pharmacy to
leverage a shared pharmacy platform to develop new pharmacy and
health solutions for clients and consumers.
“Our new strategic relationship with CVS Pharmacy will benefit
our clients and consumers by improving access to medications,
driving better health outcomes, and reducing costs,” said Mark
Thierer, chief executive officer of OptumRx. “By deepening our
relationship, we can develop innovations that further modernize and
enhance pharmacy care.”
Further expanding OptumRx’s full range of network offerings,
this joint pharmacy offering provides a platform for Optum and CVS
Pharmacy to bring together capabilities and systems to build new
combined pharmacy, health and wellness programs. Optum’s long-term
business relationship with CVS Pharmacy as traditional pharmacy
network partners ensures this new pharmacy solution will quickly
benefit consumers and clients, improving health outcomes and
lowering costs beyond the pharmacy.
“We are very pleased to announce that we will be partnering with
OptumRx, which will allow us to explore innovative ways of helping
patients on their path to better health,” said Helena Foulkes,
president of CVS Pharmacy. “This strategic relationship will
enhance patients’ access to care, lower costs, and improve health
outcomes through our unmatched clinical capabilities delivered by
our 27,000 retail pharmacists nationwide.”
OptumRx and CVS expect the new 90-day pharmacy solution to be
available to OptumRx commercial clients implementing new 90-day
prescription benefit designs, beginning July 1, 2017.
About CVS PharmacyCVS Pharmacy, the retail division of
CVS Health (NYSE: CVS), is America's leading retail pharmacy with
over 9,600 locations. It is the first national pharmacy to end the
sale of tobacco and the first pharmacy in the nation to receive the
Community Pharmacy accreditation from URAC, the leading health care
accreditation organization that establishes quality standards for
the health care industry. CVS Pharmacy is reinventing pharmacy to
help people on their path to better health by providing the most
accessible and personalized expertise, both in its stores and
online at CVS.com. General information about CVS Pharmacy and CVS
Health is available at www.cvshealth.com.
About OptumRxOptumRx is a pharmacy care services company
helping clients and more than 65 million members achieve better
health outcomes and lower overall costs through innovative
prescription drug benefits management services, including network
claims processing, clinical programs, formulary management and
specialty pharmacy care. Leveraging expertise, flexible technology
and a network of over 67,000 community pharmacies and
state-of-the-art home delivery pharmacies, OptumRx is putting
patients at the center of the pharmacy experience and making health
care more connected and less fragmented - ensuring patients get the
right medication at the right time at the best cost. OptumRx is
part of Optum, a leading information and technology-enabled health
services business dedicated to making the health system work better
for everyone. For more information, visit
www.optum.com/optumrx.
About OptumOptum is a leading information and
technology-enabled health services business dedicated to helping
make the health system work better for everyone. With more than
100,000 people worldwide, Optum delivers intelligent, integrated
solutions that help to modernize the health system and improve
overall population health. Optum is part of UnitedHealth Group
(NYSE:UNH). For more information, visit www.optum.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161129005768/en/
Media Contacts:CVS HealthCarolyn Castel,
401-770-5717carolyn.castel@cvshealth.comorOptumDrew Krejci,
952-205-6652andrew.krejci@optum.comorInvestor Contact:CVS
HealthNancy Christal, 401-770-3614nancy.christal@cvshealth.com
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