CVS Caremark Receives URAC Accreditation for Pharmacy Benefit Management and Drug Therapy Management

Dec 02, 2010, 08:30 ET from CVS Caremark

WOONSOCKET, R.I., Dec. 2, 2010 /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 had previously received accreditation for PBM and DTM from URAC in 2007.

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"CVS Caremark is pleased to receive these accreditations," said Per Lofberg, head 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."

"By applying for and receiving URAC accreditation, CVS Caremark has demonstrated a commitment to quality health care," said Alan P. Spielman, URAC President and CEO. "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 and undergo rigorous evaluation by an independent accrediting body."

URAC offers the only third-party, voluntary accreditation program of this scope for the pharmacy benefit management and prescription services industry. All standards were developed by URAC's Pharmacy Advisory Committee, which includes a wide range of stakeholders: employers, consumers, pharmacy consultants, health plans, retail pharmacy, pharmacy benefit management organizations, pharmacy professional organizations, labor, and large public purchasing groups.

About URAC

An independent, nonprofit organization, URAC 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 Caremark is the largest pharmacy health care provider in the United States. Through our integrated offerings across the entire spectrum of pharmacy care, we are uniquely positioned to provide greater access, to engage plan members in behaviors that improve their health, and to lower overall health care costs for health plans, plan sponsors and their members. CVS Caremark is a market leader in mail order pharmacy, retail pharmacy, specialty pharmacy, and retail clinics, and is a leading provider of Medicare Part D Prescription Drug Plans. As one of the country's largest pharmacy benefits managers (PBMs), we provide access to a network of more than 64,000 pharmacies, including approximately 7,100 CVS/pharmacy® stores that provide unparalleled service and capabilities. Our clinical expertise includes one of the industry's most comprehensive disease management programs. General information about CVS Caremark is available through the Company's Web site at http://info.cvscaremark.com.

Media Contact:

Christine Cramer

CVS Caremark

(401)770 3317

ckcramer@cvs.com

SOURCE CVS Caremark



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