CVS Health has designed a new program called RxZERO, which aims to provide affordable medications to individuals living with diabetes without the astronomical out-of-pocket expenses.
“Eliminating out-of-pocket costs for diabetes medications ensures long-term affordability, improves adherence and, most importantly, puts patients on the path to better health.”Dr. Troyen A. Brennan, chief medical officer at CVS Health
With diabetes being potentially fatal when unmanaged by medication, it’s critical for patients to receive the treatment they need without breaking the bank.
According to a CVS Caremark study, people living with diabetes typically spend around $467 out-of-pocket for brand name prescriptions every year. Of those patients, approximately 12% spend up to $1,000 on diabetes medication.
How RxZERO Works
RxZERO works by requiring employees with diabetes to use only approved generic medications — instead of brand name — which saves employers around $170 per member.
“Traditionally, the focus of affordability for diabetes medications has been on insulin, which is the cornerstone of therapy for the five percent of people with diabetes who are living with type 1 diabetes,” Brennan says. “However, the new CVS Caremark solution expands affordable options to include the entire range of diabetes medication improving affordability for the 95% of people with diabetes who are living with type 2 diabetes.”
A CVS diabetes study concluded that regular use of diabetes medications prevents future healthcare complications that can end up costing employers over $2,000. With all factors combined, employers could save $1,225 in pharmacy costs.
Employers using RxZERO will also have access to CVS Health’s clinical support, which provides a five-step program for preventing and managing diabetes.
In conclusion, this means clients can help their members better afford their medication without raising premiums or deductibles. CVS Health says this new program works for a variety of health plans; however, results will vary based on individual situations.
Information provided by Employee Benefit Adviser.
Learn what CVS Health is planning to launch this March here.
Questions? Contact the Creative Benefits Team at 866-306-0200 or email us at firstname.lastname@example.org.