I can’t make this up. CVS Caremark is now only covering the Brand name version of some prescription drugs. So if I prescribe the generic, in an effort to save my patient money, CVS Caremark will refuse to cover it.
Generic Rx Denied.
Why? CVS Caremark gets a kickback from the pharmaceutical company that makes the brand name. They call it a rebate, but let’s be honest, it’s a kickback. Kickbacks have become a huge profit center for PBMs. And not because the pharmaceutical industry wants to pay out more rebates. Pharmaceutical companies already must pay PBMs just to meet with them. And to get their medications on formularies.
PBMs will pretend these “rebates” will mean lower costs for the payers. But if that were true, PBMs would support transparency to show us just how much money they save us. PBMs don’t save money. They take money, by the Billions, from the healthcare economy. And now they’re too big to even question.
See the letter below.