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Blue Shield of California Ends CVS Caremark Partnership, Google's Verily Life Sciences Intensifies Cost-Cutting, Tesla's Autopilot Under Fire Again: Today's Top Stories

Wall Street Journal Blue Shield of California To Revolutionize Drug Payment System: Ends CVS Caremark Partnership Blue Shield of California has decided to discontinue its utilization of CVS Health Inc's (NYSE: CVS) Caremark, the pharmacy-benefit manager responsible for negotiating drug prices and overseeing services like mail-order pharmacy. Instead, the nonprofit health plan, which boasts a membership of approximately 4.8 million, is embarking on a partnership with a group of specialized compan ....

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Update: CVS, August 17

Shares of CVS Health (CVS) fell under pressure today following a report by the Wall Street Journal stating that healthcare provider Blue Shield of California will [.] ....

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A Major Insurer Has a New Plan to Save Big Money on Drug Costs

The U.S. system of pricing and insurance coverage for prescription drugs has come under immense criticism for being overly complicated and costly. Now, a major health insurer — Blue Shield of California — says it is opting out of that system to try a new model “designed to fix problems in today’s broken prescription drug system.” The non-profit insurer, with some 4.8 million members, said Thursday that it will stop using the CVS Caremark pharmacy benefit management service. Pharmacy benefit mana ....

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