Prescription drug discount solution to help reduce costs, improve experience for tens of millions of CVS Caremark customer members
WOONSOCKET, RIAND SANTA MONICA, Calif., July 12, 2023 /PRNewswire/ — CVS Caremarka CVS Health (NYSE: CVS) and GoodRx (Nasdaq: GDRX), a leading resource for healthcare savings and information, today announced the launch of Caremark Cost SaverTM extension to help reduce medication costs directly to the pharmacy for CVS Caremark customer members. Through the new program, eligible CVS Caremark members will have automatic access to GoodRx prescription pricing to enable them to pay lower prices, when available, on generic drugs in a seamless experience at the pharmacy counter.
The amount paid will automatically be applied to the deductible and food allowances of the insured. Plan members only need to use their existing benefit card at their preferred network pharmacy. No action is required by the plan member.
“We work every day to provide a more convenient drug benefit for our CVS Caremark customers and their plan members, and this collaborative prescription discount solution allows us to dynamically buy at the best price on their behalf,” he said. David Joyner, Executive Vice President, CVS Health and President, CVS Caremark. “By reducing out-of-pocket costs for our client members, Caremark Cost Saver will help patients afford to take their medications as directed.”
“Healthcare only works when patients can afford it, which is why we are thrilled to work with CVS Caremark to combine their great value with automatic access to our low pricing on prescriptions,” he said Scott Wagner, interim CEO of GoodRx. “Through this program, patients don’t have to choose between using the pharmacy benefit or using GoodRx to save on prescriptions—they can now do both right over the counter, so they have the peace of mind that they’re always paying the lowest price.” available. This collaboration can make a significant difference to the tens of millions of Americans that CVS Caremark serves.”
Members will continue to benefit from CVS Caremark’s rigorous drug safety review, which includes thousands of health and safety checks that can alert the patient to any adverse drug interactions.
This program will offer GoodRx discount pricing to commercially insured plan members who fill many commonly prescribed generic prescriptions at network pharmacies, starting January 1, 2024.
Learn more about Caremark Cost Saver here.
About CVS Health
CVS Health is the leader in healthcare solutions, providing care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels, and more than 300,000 dedicated colleagues including more than 40,000 physicians, pharmacists, nurses, and nurse practitioners. Wherever and whenever people need us, we help them with their health, whether it’s managing chronic illnesses, maintaining compliance with their medications, or accessing affordable health and wellness services in the most convenient ways . We help people navigate the healthcare system and their personal healthcare by improving access, reducing costs and being a trusted partner for every meaningful health moment. And we do everything with the heart, every day. Follow @CVSHealth on social media.
About GoodRx
GoodRx is a leading resource for health care savings and information that makes health care accessible and affordable for all Americans. We offer consumers free access to transparent and lower prices for brand and generic medicines, convenient and convenient medical consultations via telehealth, and comprehensive health research and information. We have been helping consumers save money since 2011 55 billion dollars and are one of the most downloaded medical apps in the last decade.
GoodRx periodically posts information that may be important to investors on its investor relations website at https://investors.goodrx.com. We intend to use our website as a means to disclose material non-public information and to fulfill our disclosure obligations under Regulation FD. Accordingly, investors and prospective investors are encouraged to regularly consult GoodRx’s website for important information, as well as follow GoodRx’s press releases, Securities and Exchange Commission (the “SEC”) filings, and public conference calls and webcasts. Information contained in or accessible through the GoodRx website is not incorporated by reference and does not form a part of this press release.
Forward-Looking Statements
This press release contains forward-looking statements pursuant to the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to historical facts should be considered forward-looking statements, including, without limitation, statements relating to the question and the success of Caremark Cost Saver or the benefits consumers derive from such an offer. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in the statements forward-looking statements, including, but not limited to, risks related to changes in drug prices that are materially affected by the pricing structures negotiated by industry participants and the important factors discussed in CVS Health and GoodRx’s respective filings with the SEC . These factors could cause actual results to differ materially from those indicated by the forward-looking statements contained in this press release. These forward-looking statements represent current expectations and projections as of the date of this press release. While we may choose to update these forward-looking statements in the future, we disclaim any obligation to do so, even if subsequent events change our views.
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