SOURCE: Pharmacy Benefit Management Institute
PLANO, TX--(Marketwired - Feb 4, 2014) - The Pharmacy Benefit Management Institute presented CVS Caremark with the 2014 Rx Benefit Innovation Award at its 19th Annual Drug Benefit Conference held in Las Vegas today.
Each year organizations compete to showcase creative, best practices and approaches to complex drug benefit challenges. CVS Caremark is being recognized for its integrated retail-specialty pharmacy program -- Specialty Connect. Through this innovative approach to medication delivery and patient education, patients diagnosed with a specialty condition have the option to pick up their specialty medications at retail (CVS) pharmacies or receive them via home delivery. Patients also benefit from receiving clinical support and counseling from pharmacists and nurse practitioners of the CVS Caremark Specialty Pharmacy CareTeam.
"Patients taking specialty medications often face a number of important challenges, including serious illness and complex treatment regimens," said Kathleen Fairman, PBMI's Vice President of Research and Education. "We are pleased to highlight a creative way of dealing with these issues."
This offering was tested during a 15-month pilot project conducted in 116 CVS/pharmacy locations in Philadelphia. Results of the pilot revealed:
- A 16 percentage point increase in optimal adherence after six months
- Increase in first-fill persistency by almost 23 percentage points six months after the pilot launch
- Opt-in rate of 99% of patients into the program for clinical management and support
The mission of the Pharmacy Benefit Management Institute (PBMI) is to create the industry's premier forum for health care purchasers to exchange ideas, advance best practices, and drive appropriate changes in the pharmacy benefit management marketplace.