The California-based company's shares rose nearly 18% in afterhours trading. Firms have prioritized expenditure on cybersecurity, as sticky inflation and high interest rates forced them to cut back on spending elsewhere. Worldwide spending on security and risk management is projected to increase 14.3% in 2024, according to research firm Gartner.
Out-of-pocket drug prices in the U.S. are decided by a complex, multi-tiered network including insurers, drugmakers, pharmacies and pharmacy benefit managers (PBMs), resulting in ambiguity around fees and markups to the original cost of the drug. The new CVS model, called CostVantage, will have a fixed markup and fees to define drug cost and related reimbursement with contracted insurers and PBMs, the company said.
(Reuters) -CVS Health on Tuesday forecast 2024 revenue above market estimates and said it would shift to fixed rates for reimbursements from pharmacy benefit managers and insurers, to boost transparency amid scrutiny on high drug prices. Out-of-pocket drug prices in the U.S. are decided by a complex, multi-tiered network including insurers, drugmakers, pharmacies and pharmacy benefit managers (PBMs), resulting in ambiguity around fees and markups to the original cost of the drug. The new CVS mod
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