October 20, 2017
CVS Health and health care software developer Epic announced a new initiative to reduce the costs of pharmacy drugs, according to a recent press release.
Through the new initiative, Epic will provide CVS with enhanced analytics that will give them the power to target specific customers with lower cost alternative pharmaceuticals.
“This collaboration with Epic will enable us to continue to drive leading edge technology innovation beyond the pharmacy to the full health care system,” Stephen Gold, chief information officer at CVS Health, said in the press release. “Together, our two companies will also examine opportunities to streamline and improve data sharing and linkages across the health care system to enhance communication and connectivity among patients, their physicians, the pharmacy and health insurers.”
Health insurers and Physician teams who use the Epic EHR platform will also have access to the platforms real-time benefit information and point-of-prescribing electronic prior authorization, according to the release. Additionally, physicians will be provided with insurers’ formulary options and alternative, lower cost treatments.
“At CVS Health we recognize that EHRs offer health care providers easier and more comprehensive access to their patients' information than ever before,” Troyen A Brennan, MD, chief medical officer at CVS Health, said. “This new relationship will help us further expand how we work with Epic and providers on their EHR system to develop meaningful tools and programs that will ultimately help us take even better care of the patients we support.”