WOONSOCKET, R.I., Oct. 24, 2013 /PRNewswire/ --CVS Caremark (NYSE: CVS) announced today that it has been awarded Pharmacy Benefit Management (PBM) and Drug Therapy Management (DTM) accreditation from URAC, a Washington, DC-based health care accrediting organization that establishes quality standards for the health care industry.
"CVS Caremark is pleased to receive these accreditations," said Jon Roberts, President of CVS Caremark's Pharmacy Benefit Management business. "This provides further validation of the company's ongoing focus and commitment to patient care, outstanding customer service and overall quality."
URAC's PBM Accreditation standards cover the organization's contract terms and pricing structures; ensure access to drugs and pharmacies; provide for drug utilization management, formulary management, patient safety and customer service; and create a process for PBM outcomes measurement and quality improvement. URAC's DTM Accreditation standards cover the essential parts of a DTM business, including driving appropriate therapeutic outcomes for consumers and reducing adverse events; promoting rational, clinically appropriate, safe, and cost-effective DTM through evidence-based medicine; encouraging communication about medication use; supporting population specification, consumer identification, and recruitment; and creating a process for DTM outcomes measurement and quality improvement.
"By applying for and receiving URAC accreditation, CVS Caremark has demonstrated a commitment to quality health care," said URAC Chief Operating Officer William Vandervennet. "Quality health care is crucial to our nation's welfare and it is important to have organizations that are willing to measure themselves against national standards."
URAC, an independent, nonprofit organization, is a leader in promoting health care quality through accreditation and certification programs. URAC's standards keep pace with the rapid changes in the health care system, and provide a mark of distinction for health care organizations to demonstrate their commitment to quality and accountability. Through its broad-based governance structure and an inclusive standards development process, URAC ensures that all stakeholders are represented in setting meaningful standards for the health care industry. For more information, visit www.urac.org
About CVS Caremark
CVS Caremarkis dedicated to helping people on their path to better health as the largest integrated pharmacy company inthe United States. Through the company's more than 7,500 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 Caremarkcontinually 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. Find more information about howCVS Caremarkis reinventing pharmacy for better health at http://info.cvscaremark.com/newsroom
SOURCE CVS Caremark Pharmacy Services