Navigation Links
CVS Caremark Statement and Response to CMS Action
Date:1/18/2013

WOONSOCKET, R.I., Jan. 18, 2013 /PRNewswire/ -- CVS Caremark (NYSE: CVS) is working to resolve service issues related to its SilverScript Medicare Part D Prescription Drug Plan.  Issues with SilverScript enrollment processing resulted from an enrollment system conversion and brought about an increase in call volume and issues related to claims processing, including, in some instances, not being able to have claims adjudicated at the pharmacy.  As a consequence, the Centers for Medicare and Medicaid Services (CMS) has placed SilverScript on intermediate sanctions, effective as of 11:59PM EST January 15, 2013. 

(Logo:  http://photos.prnewswire.com/prnh/20090226/NE75914LOGO )

Enrollment of any Medicare beneficiaries in the SilverScript plan and all marketing activities have been suspended.  The CMS action does not affect current SilverScript members and these beneficiaries will continue to have access to covered services.  Existing employer group health plans are not affected by this action; CVS Caremark health plan clients are not affected by this action. The company estimates that the sanctions should not have a material impact on its 2013 earnings.

"We take these issues very seriously and are committed to working swiftly with CMS officials to address their areas of concern," said Jon Roberts , President of the pharmacy benefit management business of CVS Caremark. "We also want to commit to members who experienced enrollment issues that we will resolve these expeditiously."

About CVS Caremark
CVS Caremark is dedicated to helping people on their path to better health as the largest integrated pharmacy company in the United States. Through the company's more than 7,400 CVS/pharmacy stores; its leading pharmacy benefit manager serving more than 60 million plan members; and its retail health clinic system, the largest in the nation with more than 600 MinuteClinic locations, it is a market leader in mail order, retail and specialty pharmacy, retail clinics, and Medicare Part D Prescription Drug Plans.  As a pharmacy innovation company with an unmatched breadth of capabilities, CVS Caremark continually strives to improve health and lower costs by developing new approaches such as its unique Pharmacy Advisor program that helps people with chronic diseases such as diabetes obtain and stay on their medications.


'/>"/>
SOURCE CVS Caremark
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. CVS Caremark Corporation to Hold First Quarter 2012 Conference Call
2. CVS Caremark Reports Record First Quarter Results
3. CVS Caremark Sponsored Research Finds FDA Drug Warnings Can Have Immediate Negative Impact on Medication Adherence, Even if Not Related to Safety
4. CVS Caremark Research Identifies Positive Link Between Medication Adherence and Employee Productivity
5. CVS Caremark Charitable Trust Partners with National Association of Community Health Centers to Create Innovative Grant Program Focused on Managing Chronic Disease
6. CVS Caremark To Present At Goldman Sachs 2012 Global Retailing Conference
7. CVS Caremark to Present at Morgan Stanley Global Healthcare Conference
8. CVS Caremark Corporation Announces New Share Repurchase Authorization for up to $6 Billion of Common Stock
9. CVS Caremark Donates More Than $100,000 to Hurricane Sandy Relief Efforts
10. CVS Caremark To Present At Lazard Capital Markets 9th Annual Healthcare Conference
11. CVS Caremark Reports Third Quarter Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/21/2017)... 2017 ResMed (NYSE: RMD ), BMC ( ... Haven, Florida ) today announced they have agreed on a ... will be permitted to sell their existing products in exchange for ... payment to 3B to close the Florida ... admission of liability or wrongdoing by any party. ...
(Date:1/21/2017)... , Jan. 20, 2017 ARMO BioSciences, Inc., ... data on the Company,s lead investigational immuno-oncology drug AM0010 ... by the American Society of Clinical Oncology (ASCO), taking ... CA. "AM0010 induces the ... + T cells in the blood and tumors ...
(Date:1/21/2017)... -- Research and Markets has announced the addition of ... Route Of Administration, End User - Forecast to 2025" report ... ... a CAGR of around 7.8% over the next decade to reach ... analyzes the global markets for Advanced Drug Delivery across all the ...
Breaking Medicine Technology:
(Date:1/22/2017)... TX (PRWEB) , ... January 22, 2017 , ... ... provide slow results. Often the results of a simple test will take days to ... Any Lab Test Now offers customers direct access to their lab tests, bypassing the ...
(Date:1/21/2017)... (PRWEB) , ... January 21, 2017 , ... Phytocéane ... Indian Ocean, isolated from the rest of the world with ZANZIBAR SHOWER GEL. Inspired ... Phytocéane used key ingredients, Virgin Coconut Oil and moisturizing vegetal coral to create this ...
(Date:1/21/2017)... ... January 21, 2017 , ... The Nobel ... Dan Holtzclaw in media for its creos™ line of bone regenerative products. ... Holtzclaw in which he utilizes creos™ allo.gain™ bone graft for a variety of ...
(Date:1/20/2017)... , ... January 20, 2017 , ... Doctor C LLC, ... attended the January ECRM trade show to continue the marketing and distribution of its ... supplement, known for providing 400 percent better absorption than traditional vitamin C supplements. At ...
(Date:1/20/2017)... ... January 20, 2017 , ... Michael and Betsy Brauser celebrated 5 years ... Betsy, the clinical trial has been life-saving as she has been on the ... Betsy Brauser was diagnosed with ovarian cancer in 2009. She underwent standard chemotherapy but ...
Breaking Medicine News(10 mins):