CVS To Compare Drug Prices At The Pharmacy Counter | Forbes

CVS Health will introduce a new effort to help customers compare drug prices for more transparency at its pharmacy counters, ratcheting up pressure on the pharmaceutical industry and drug costs.

Pharmacists have long advised patients on whether a drug is covered by insurance or whether a cheaper generic is available. But CVS admits a more robust effort is needed by its drugstores and pharmacy benefit business at a time an increasing number of patients are paying more out of their pockets for drugs as high deductible plans have proliferated.

CVS said Wednesday its new “CVS Pharmacy Rx Savings Finder” allows for a more seamless process, reviewing the patient’s “prescription regimen, medication history and insurance plan information.” CVS said its “Rx Savings Finder” will show its pharmacists through an interactive screen whether the prescribed medicine is on the preferred list of drugs in the patient’s health plan formulary and whether the drug is indeed the lowest option.

Drug makers are already facing a wave of pricing pressure as CVS, which operates the drug benefit manager (PBM) Caremark, works to complete its acquisition of Aetna, the nation’s third-largest health insurance company. Aetna has more than 20 million health plan members and the two companies have said they want to increase transparency on a range of health services including drug costs as a larger company that pays for patient care.

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CVS To Compare Drug Prices At The Pharmacy Counter.