On Wednesday, April 11, 2018, CVS Health announced its new tool, CVS Pharmacy Rx Savings Finder (Rx Savings Finder), which is designed to reduce consumers’ concern over rising costs. Rx Savings Finder will enable the company’s retail pharmacists to evaluate quickly an individual’s prescription savings opportunities at the pharmacy counter.

The Rx Savings Finder will show pharmacy teams:
1. First, if the prescribed medication is on the patient’s formulary and is the lowest cost option available.
2. Second, if there are lower-cost options covered under the patient’s pharmacy benefit such as a generic medication or therapeutic alternative with equivalent efficacy of treatment.
3. Third, if the patient may be able to save money by filling a 90-day prescription rather than a 30-day prescription.
4. Finally, if neither a generic nor a lower-cost alternative is available, other potential savings options for eligible or uninsured patients where allowed by applicable laws and regulation.

CVS Caremark also provides real-time, member-specific drug costs and lower-cost alternatives to prescribers through their electronic health record system (and to CVS Caremark members through the member portal and newly updated app). According to CVS, this function resulted in prescribers switching their patient’s drug from a non-covered drug to a drug on formulary 85% of the time.

Refer to the attached news brief and press release for additional information and contact your NEEBCo representative with questions.

CVS New Tool Promises Transparency and Cost Savings

CVS Press Release