Cost Saver
Ensure that members receive the lowest available price at the pharmacy counter.
For many of us, prescription drugs are essential to managing our health, so affordability and accessibility are critical. Soaring prescription drug prices can put a financial strain on many Americans, and they often turn to drug discount cards or direct-to-consumer online pharmacies to save money. Historically, neither of these have integrated seamlessly with plan benefits, resulting in a poor member experience.
With Cost Saver™ powered by GoodRx, we’re helping you lower members’ drug costs and complementing your plan design by:
- Providing members with the best available prices for many commonly prescribed, non-specialty generic drugs
- Applying member out-of-pocket costs to deductibles and out-of-pocket thresholds
- Coordinating clinical support and adherence programs using integrated data
- Delivering a seamless member experience that avoids wasted time shopping around for the best prices
[Instrumental background music plays. Text description follows.]
CVS Caremark.
Introducing Caremark Cost Saver.
[Speaker: James Moore, Vice President, Specialty Product Management, CVS Health.]
We're very excited to announce that Cost Saver is going to be powered by GoodRx, who's a leader in the drug discount space. So when you pair a leading PBM with a leading drug discount program, it's going to translate to really meaningful outcomes for our stakeholders. We're going to be able to enable a higher degree of member affordability to prescription medications without having members take any additional action to receive that benefit.
What challenge are we solving?
[Speaker: James Moore, Vice President, Specialty Product Management, CVS Health.]
The challenge that we're trying to solve with Cost Saver for both clients and members is making sure that claims stay on benefit. Oftentimes today when members experience a high out-of-pocket cost, they may look to shop around and see if there are lower out-of-pocket prices available from either discount programs or from direct-to-consumer pharmacies. And this creates a challenge both for members and for our plan sponsors. For members, they often don't know that when they spend dollars off benefit that those dollars won't count towards their accumulators and that creates some dissatisfaction for members with their plan. And for clients, it means there's a lack of visibility to that utilization, which means that clinical programs may not be as effective as they need to be.
How does Cost Saver work?
[Speaker: James Moore, Vice President, Specialty Product Management, CVS Health.]
Caremark Cost Saver leverages market available pricing to bring members lower member out-of-pocket costs on their benefit. We're going to compare the available drug discount program price to what the member's out-of-pocket cost would be from their benefit and in the case where the drug is cheaper through the drug discount program price, members are going to automatically get the benefit of that lower price at the point of sale without having to take any extra steps or any action on their part.
What do members need to do to use Cost Saver?
[Speaker: James Moore, Vice President, Specialty Product Management, CVS Health.]
Members don't need to take any action to realize the benefit of Caremark Cost Saver. As long as they bring an eligible prescription to an in-network pharmacy, we're going to compare their out-of-pocket costs from the plan to the available price from the drug discount partner, and they'll receive the lower of those two prices without having to do anything separate than what they're doing today.
Is there a separate card needed for Cost Saver?
[Speaker: James Moore, Vice President, Specialty Product Management, CVS Health.]
There's no separate ID card that they would need to use in order to use Caremark Cost Saver. They would just present their normal prescription benefit card like they do today to the network pharmacy and all of the work's done behind the scenes.
[Music fades, video ends.]
Contact your account team to learn more about Cost Saver and how it can increase affordability for your members and keep them on benefit.
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