Flexible formulary strategies
Our formulary options allow plan sponsors to choose an approach that aligns to their cost management philosophy and member experience priorities. We are focused on achieving low net cost while delivering clinically appropriate coverage.
The right formulary strategy is critical to delivering low net cost and, historically, relied heavily on rebates. However, as we have seen in the past few years, this trend is changing.
We explore various strategies to provide cost-effective solutions for our clients and their members, with and without rebates. We’re giving clients the option to move away from rebate-dependent pricing and with lower list price strategies to achieve low net cost while delivering clinically appropriate coverage.
$138 in savings per member expected in 2024 from managed template formulary changes
$4.8B in client savings
Featured solutions
Case study
Reducing spend with the right formulary approach
CVS Caremark implemented a formulary solution for a government employer seeking to reduce spend on high-cost, low-value drugs.
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CVS Caremark.
Employer Case Study: Simplicity and savings for a state employer.
Situation.
Help state government with a large union reduce spend on high-cost, low-value drugs
Solution.
Implement formulary solution that substitutes lower-cost, clinically appropriate therapies, all while adhering to union contract and avoiding collective bargaining.
Results.
Preserved access to clinically appropriate therapies.
$45.60 per member per year projected annual savings.
No member disruption and high member satisfaction.
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