CVS Health announces drop in prescription drug trend

CVS Health announced this week that the prescription drug trend for CVS Health pharmacy benefit management (PBM) fell from 11.8 percent in 2014 all the way down to 5 percent in 2015 despite drug prices being on the rise.

The prescription drug trend is how the industry measures prescription drug spending. The inflation of prices was similar in 2015 to the numbers in 2014, but CVS Health was proactive in the strategies implemented in their pharmacy locations.

Trend drivers are responsible for the inflation of prescription drugs prices. These drivers include brand, specialty and generic medicines, which have seen their prices increase steadily over recent years. In 2015, it was increasing prices in non-specialty brands that set itself apart as the highest among other trend drivers.

CVS Health is in a unique position where it can address cost drivers throughout the health care industry and increase access to reasonably priced medications. This allows them to offer better health results and cut the cost of medicines for millions patients nationwide.

CVS Caremark is the company’s PBM that institutes a range of solutions to manage costs of its pharmacies to make sure patients have access to the correct drugs.