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CVS makes a big change to how prescriptions are paid for by giving customers a number of “transparent” pricing options with Pay Perks.

CVS to change how it prices prescription drugs. (PHOTO: CNBC News)

People don’t like that the company closed stores and stepped up protection.

CVS  CVS to change how it prices prescription drugs. (PHOTO: CNBC News)

According to The U.S. Sun report, CVS Health recently put out a news statement with details about its long-term growth strategy. The strategy includes two main plans: CVS CostVantage and TrueCost. The goal of CVS CostVantage is to change the way pharmacies get paid by making things more clear and easy to understand. Together with pharmacy benefit managers (PBMs) and payors, the plan includes a clear method for figuring out how much drugs cost and how much to repay. The goal is to make drugstore sites important resources for people looking for cheap health care. Prem Shah, PharmD, Executive Vice President and Chief Pharmacy Officer at CVS Health, said that the goal of the effort is to change the way retail pharmacies are paid so that it is more fair and long-lasting, and so that payment is based on the level of services given.

CVS Health has stated that CVS CostVantage will be available starting in 2025. This is part of their attempts to make prices more clear and open. This project, which was made with the help of pharmacy benefit managers (PBMs) and business payors, tries to make the current model for pharmacy compensation more clear and easy to understand. For example, CVS added TrueCost, a new price model that shows customers the real net cost of prescription drugs and includes information about overhead fees. By offering these plans, CVS Health shows its dedication to making pricing easier to understand and making sure customers are sure they are getting the best deals possible.

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