CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services in the United States. Segments The company’s segments include Pharmacy Services and Retail/LTC (long-term care). Pharmacy Services This segment provides a range of pharmacy benefit management (PBM) solutions to its clients consisting primarily of employers, insurance companies, unions, government employee groups, health plans, Managed Medicaid plans, plans offered on the public and private exchanges, other sponsors of health benefit plans and individuals throughout the United States. In addition, through its SilverScript Insurance Company (SilverScript) subsidiary, the company is a national provider of drug benefits to eligible beneficiaries under the federal government’s Medicare Part D program. The Pharmacy Services Segment operates under the CVS Caremark Pharmacy Services, Caremark, CVS Caremark, CarePlus CVS Pharmacy, CVS Specialty, Accordant, SilverScript, NovoLogix, Coram, Navarro Health Services and Advanced Care Scripts names. As of December 31, 2015, the Pharmacy Services Segment operated 24 retail specialty pharmacy stores, 11 specialty mail order pharmacies and 5 mail order dispensing pharmacies, and 83 branches for infusion and enteral services, including approximately 73 ambulatory infusion suites and 6 centers of excellence, located in 40 states, Puerto Rico and the District of Columbia. Pharmacy Services Business Strategy The company’s business strategy centers on providing innovative tools and strategies, as well as quality client service to help improve clinical outcomes for its clients’ health benefit plan members. PBM Services Plan Design Offerings and Administration: The company’s clients sponsor pharmacy benefit plans that facilitate the ability of eligible members in these plans to receive prescribed medications. It assists its clients in designing pharmacy benefit plans. The company also administers benefit plans selected by its clients and assist them in monitoring the effectiveness of these plans through frequent, informal communications, their use of its proprietary software, as well as through a formal annual client review. The company makes recommendations to its clients helping them to design benefit plans promoting the use of the lower cost, clinically appropriate drugs. Formulary Management: The company utilizes an independent panel of doctors, pharmacists and other medical experts, referred to as its Pharmacy and Therapeutics Committee, to select drugs that meet the highest standards of safety and efficacy for inclusion on its formularies. The company’s formularies provide recommended products in various drug classes to ensure member access to clinically appropriate alternatives under the client’s pharmacy benefit plan. To help improve clinical outcomes for members and clients, the company conducts ongoing, independent reviews of all drugs, including those appearing on the formularies and generic equivalent products, as well as its clinical programs. Many of the company’s clients choose to adopt its template formulary offerings as part of their plan design. Medicare Part D Services: The company participates in the administration of the drug benefit added to the Medicare program under Part D of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) through the provision of PBM services to its health plan clients and other clients that have qualified as Medicare Part D prescription drug plans (PDP) and by offering Medicare Part D pharmacy benefits through SilverScript, a PDP approved by the Centers for Medicare and Medicaid Services (CMS). The company also assists employer, union and other health plan clients that qualify for the retiree drug subsidy made available under the MMA by collecting and submitting eligibility and/or drug cost data to CMS in order for them to obtain the subsidy. Mail Order Pharmacy: As of December 31, 2015, the company operated five mail order dispensing pharmacies in the United States. Plan members or their prescribers submit prescriptions or refill requests, primarily for maintenance medications, to
cvs health corp
(CVS:New York Consolidated)
One CVS Drive
Woonsocket, RI 02895
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