CVS strengthens its initiatives to battle opioid abuse

  • CVS Pharmacy expanding drug disposal collection program to 1,550 units with addition of kiosks at 750 retail pharmacies nationwide, adding to 800 units previously donated to law enforcement
  • CVS Caremark enhancing opioid utilization management aligned with CDC Guideline for PBM clients and members, complementing measures already in place
  • CVS Health Foundation adding $2 million commitment to previous investments in mitigating prescription drug abuse with support for Community Health Centers providing medication-assisted treatment and other addiction recovery services

WOONSOCKET, R.I., 2017-Sep-25 — /EPR Retail News/ — CVS Health (NYSE: CVS) announced today that, as part of the company’s broad commitment to fighting the national opioid abuse epidemic, it is enhancing its enterprise-wide initiatives supporting safe drug disposal, utilization management of pain medications and funding for treatment and recovery programs.

“As America’s front door to health care with a presence in nearly 10,000 communities across the country, we see firsthand the impact of the alarming and rapidly growing epidemic of opioid addiction and misuse,” said Larry J. Merlo, President and CEO, CVS Health. “Today we are announcing an expansion of our enterprise initiatives to fight the opioid abuse epidemic that leverages CVS Pharmacy’s national presence with the capabilities of CVS Caremark, which manages medications for nearly 90 million plan members.”

To support this goal, CVS Caremark will roll out an enhanced opioid utilization management approach for all commercial, health plan, employer and Medicaid clients as of February 1, 2018 unless the client chooses to opt out. This program will include limiting to seven days the supply of opioids dispensed for certain acute prescriptions for patients who are new to therapy; limiting the daily dosage of opioids dispensed based on the strength of the opioid; and requiring the use of immediate-release formulations of opioids before extended-release opioids are dispensed.

CVS Pharmacy locations will also strengthen counseling for patients filling an opioid prescription with a robust safe opioid use education program highlighting opioid safety and the dangers of addiction. This clinical program will educate patients about the Guideline for opioid prescribing published by the Centers for Disease Control and Prevention (CDC), which advises using the lowest effective dose for the shortest duration possible. Pharmacists will counsel patients about the risk of dependence and addiction tied to duration of opioid use, the importance of keeping medications secure in the home and methods of proper disposal of unused medication.

In the last two decades, opioid prescribing rates have increased nearly three-fold, from 76 million prescriptions in 1991 to approximately 207 million prescriptions in 2013. This remarkable volume of opioid prescribing is unique to the United States, where prescribing in 2015 was nearly four times what it was in Europe.

“Without a doubt, addressing our nation’s opioid crisis calls for a multipronged effort involving many health care stakeholders,” Merlo added, “from doctors, dentists and pharmaceutical companies to pharmacies and government officials. With this expansion of our industry-leading initiatives, we are further strengthening our commitment to help providers and patients balance the need for these powerful medications with the risk of abuse and misuse.”

“The misuse and abuse of opioids is a public health crisis we have to work together to solve,” said Dr. Gary Roberts, president of the American Dental Association. “As prescribers of opioid pain medications, dentists can help keep these drugs from becoming a source of harm for patients, and the American Dental Association (ADA) is absolutely committed to working with our fellow health organizations to promote the appropriate use and disposal of controlled substances. The ADA will do everything we can to help end this national emergency.”

In a commentary published today on the Health Affairs Blog, CVS Health Chief Medical Officer Troyen A. Brennan, M.D., M.P.H., wrote, “In many ways, the abuse of opiates can be seen as the leading public health emergency the United States faces today…In light of the human suffering and financial costs caused by the current epidemic, a thoughtful, responsible, evidence-based treatment of pain is a service we must provide to our patients. Employing principles sanctioned by the CDC is clearly necessary and prudent.”

In addition to limiting opioid dispensing, CVS Health today announced that it will be expanding its Medication Disposal for Safer Communities Program to a total of 1,550 kiosks, including 750 additional disposal units in CVS Pharmacy across the country beginning with locations in Florida, Massachusetts, North Carolina, Pennsylvania, South Carolina and the District of Columbia this fall.

“Everyone has a role to play in addressing the opioid epidemic, and CVS Health is showing how the private sector can help,” said Richard Baum, Acting Director of National Drug Control Policy. “Making sure people can safely dispose of unwanted medications is a key part of preventing opioid misuse and abuse, and CVS Health has taken this important step which will support the health of communities across the country.”

To date, through this program, created with the Partnership for Drug-Free Kids, CVS Health has previously donated more than 800 medication disposal units to local police departments in 43 states. More than 100 metric tons of unwanted medication, that could otherwise have been diverted, misused or abused, have been collected and safely disposed of through this program in the past two years.

“CVS Health has long partnered with us to help prevent and address prescription drug abuse and we understand the depth of the company’s commitment and the breadth of their ability to respond,” said Fred Muench, PhD, President and CEO of the Partnership for Drug-Free Kids. “We strongly support their work to limit the quantity of opioids dispensed to patients, consistent with the Guideline set by the CDC, and their work to educate patients, teens and parents about the dangers of opioid misuse.”

The CVS Health Foundation has also added a $2 million commitment to its previous investments in mitigating prescription drug abuse with support for Federally-qualified community health centers to increase access to medication-assisted treatment and other recovery services. Together, the CVS Health Foundation and National Association of Community Health Centers (NACHC) convened a panel of experts to develop a protocol of best practices for community health centers on provider prescribing guidelines, medication-assisted treatment, behavioral health and collaboration with other community organizations to treat and prevent prescription drug abuse among at-risk patients. These guidelines will serve as a resource for community health centers receiving grants from this partnership to provide treatment for opioid addiction. This initiative expands the CVS Health Foundation’s ongoing funding of programs to reduce prescription drug abuse.

“We are proud of our long-standing relationship with the CVS Health Foundation to help reduce health disparities among medically underserved populations,” said Tom Van Coverden, President and CEO, National Association of Community Health Centers. “Community health centers have the unique ability to leverage their care teams, health information technology systems and quality infrastructure to support drug abuse control in their communities. Through the Innovative Approaches for Prescription Drug Abuse Management and Prevention program, we hope to build capacity for providing integrated behavioral health services in communities with high incidence of substance use and abuse with the goal of implementing innovative, collaborative, and community‐based models that result in safe prescribing practices, care coordination, strengthened partnerships and non-judgmental environments for all patients.”

CVS Health is also expanding its commitment to opioid abuse prevention education by bringing its Pharmacists Teach program to a parent audience. The Pharmacists Teach program has been part of the company’s ongoing commitment to prevent and address prescription drug abuse in the communities it serves. The program connects CVS Pharmacists with schools in their communities to provide a unique perspective to students about the dangers of prescription drug abuse. To date, the program has focused on teens and has educated more than 295,000 students about prescription drug abuse.

In addition to the company’s ongoing focus on prevention, CVS Health has also worked to expand access to the opioid-overdose reversal medication naloxone in 43 states and has advocated for improving tools like Prescription Drug Monitoring Programs, which help pharmacies and prescribers prevent abuse.

About the Company

CVS Health is a pharmacy innovation company helping people on their path to better health. Through its 9,700 retail locations, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with nearly 90 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan, the company enables people, businesses and communities to manage health in more affordable and effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

Investor Contact:

Mike McGuire
(401) 770-4050
Michael.McGuire@CVSHealth.com

Media Contacts:

Erin Britt
(401) 770-9237
Erin.Britt@CVSHealth.com

Carolyn Castel
(401) 770-5717
Carolyn.Castel@CVSHealth.com

SOURCE: CVS Health

STERIPOD NOW AVAILABLE AT CVS AND WALGREENS

Leading Toothbrush Protector Recommended by Dentists and Moms Doubles Distribution

Expanding To 30,000 Stores Throughout the US

LOS ANGELES, 2016-May-25 — /EPR Retail News/ — Bonfit America, Inc., maker of products for living well, recently doubled distribution for its market leading Steripod® clip-on toothbrush protector, which is now available in 30,000 stores across the US, including for the first time 6,000 CVS and 6,000 Walgreens stores. Additionally, Steripod added 200 Meijer stores, Shopco Wisconsin locations and will roll out to a thousand or so Kroger Group stores nationwide later this year.

“It’s been exciting to see the Steripod brand become the leading toothbrush protector since it was first introduced in the US in 2009,” said Bonfit CEO Paul Krok. “Since that time we have grown over 50 percent, introduced Steripod in over 20 countries around the world and look forward to expanding our ‘pod squad’ of Steripod products into more independent drug stores, supermarkets, health food stores, airports, chain and convenience store channels across the US.”

Dentists and moms agree that Steripod is the preferred way to protect your toothbrush. According to dentist and mom Jamielynn Hanam-Jahr, DDS of Beverly Hills AestheticDentistry: “Steripod is a great invention to help everyone keep their toothbrush fresh and clean and avoid cross contamination. When you’re done brushing your teeth put it over your toothbrush and that way it stays clean and safe in your bathroom between uses.”

Tonya Stabb of popular mom blog 5MinutesforMom.com adds: “Bathrooms aren’t very sanitary places and our toothbrushes are sitting around soaking up airborne germs and bacteria. Then we put those toothbrushes in our mouths… ewww!!! If you’re like me, you’ve read articles about how much bacteria and gross contaminants are in bathrooms, but just tried not to think about it. Well, good news… the answer is so simple. Snap on a Steripod.”

Steripod is a clip-on protector that fits any standard or electric toothbrush and keeps it fresh and clean for up to three months using a patented vapor shield of thymol – used in many mouthwashes and oral antiseptics. You simply clip Steripod on your electric or manual toothbrush and it goes to work; no cables or batteries are needed.

Available in a rainbow of bright colors, Steripod is fun and easy for the whole family to use at home or on the go, and has been specially designed so that air can circulate freely which means your toothbrush can dry naturally.

Steripod is available at major retailers nationwide including Bed, Bath & Beyond; CVS; Target; Walgreens; and Walmart, or online at Amazon or ShopGetSteripod.com. The suggested retail price for a two-pack is $5.99.

About Steripod

Developed by doctors and independently tested for efficacy at an accredited lab, Steripod is a clip-on protector that fits any standard or electronic toothbrush. Each Steripod contains thymol – found in many mouthwashes and oral antiseptics – and a patented design to help keep your toothbrush fresh and clean for up to three months.  Simply clip it on your electric or manual toothbrush and it goes to work; no cables or batteries are needed. You can use it at home, work, the gym, school or when your travel. Learn more at GetSteripod.com. Follow Steripod on Facebook, Twitter and Instagram. #GetYourPodOn

About Bonfit

Bonfit America, Inc., maker of products for living well, is a family owned business with research, marketing, shipping and customer service located in Culver City, CA. From Steripod® Toothbrush and Razorpod Razor Protectors to the innovative Brush-t™ performance golf tee and Play Nine, the card game of golf, Bonfit manufactures its products in a number of countries globally. For sales inquiries, please contact: info@bonfit.com, 310-204-7880.

STERIPOD NOW AVAILABLE AT CVS AND WALGREENS

STERIPOD NOW AVAILABLE AT CVS AND WALGREENS

CVS receives perfect score on the Corporate Equality Index for the second year in a row

Company scores 100 Percent on 2016 Human Rights Campaign Foundation Corporate Equality Index

WOONSOCKET, R.I., 2015-11-19 — /EPR Retail News/ — CVS Health, the nation’s largest pharmacy innovation company, today announced that for the second year in a row it received a perfect score of 100 percent on the Corporate Equality Index (CEI), a national benchmarking survey and report on corporate policies and practices pertinent to LGBT equality, administered by the Human Rights Campaign Foundation. CVS Health joins the ranks of 391 major U.S. businesses which also earned top marks this year.

“We pride ourselves on embracing and celebrating the rich diversity of our colleagues, customers and suppliers,” said Lisa Bisaccia, EVP and Chief Human Resources Officer for CVS Health and executive sponsor of the company’s LGBT resource group. “It is part of our culture to make every individual feel equally valued, respected and appreciated. These core values are the fabric of who we are as a leading health care company and make us one of the best places to work.”

Some of the programs and initiatives that account for CVS Health’s top score include:

  • an inclusive benefits package which provides health insurance coverage for the medically necessary health care services that transgender people need, including transition-related treatment;
  • support for 11 national  Colleague Resource Groups, including PRIDE, which offer employees the opportunity to share or support a particular ethnicity, culture or perspective;
  • the CVS Health Supplier Ethics Policy that supports the inclusion of LGBT vendors and suppliers; and
  • financial sponsorship and participation in annual LGBT-related and multi-cultural events and causes across the country where the company operates.

The 2016 CEI rated 1,024 businesses in the report, which evaluates LGBT-related policies and practices including non-discrimination workplace protections, domestic partner benefits, transgender-inclusive health care benefits, competency programs, and public engagement with the LGBT community. CVS Health’s efforts in satisfying all of the CEI’s criteria results in a 100 percent ranking and the designation as a Best Place to Work for LGBT Equality.

For more information on the 2016 Corporate Equality Index, or to download a free copy of the report, visit www.hrc.org/cei.

About CVS Health
CVS Health is a pharmacy innovation company helping people on their path to better health. Through its more than 7,900 retail drugstores, more than 1,000 walk-in medical clinics, a leading pharmacy benefits manager with more than 70 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, and expanding specialty pharmacy services, the Company enables people, businesses and communities to manage health in more affordable, effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at www.cvshealth.com.

Contact: 

Joe Goode
Corporate Communications
(401) 770-9820
jlgoode@cvs.com

Amy Lanctot
Corporate Communications
(401) 770-2931
alanctot@cvs.com

SOURCE CVS Health

CVS Health Q3-2015: Net revenues up 10.3%; Operating profit up 3.8%

WOONSOCKET, R.I., 2015-11-02 — /EPR Retail News/ — Third Quarter Year-over-year Highlights:

  • Net revenues increased 10.3% to $38.6 billion
  • Operating profit increased 3.8% to $2.3 billion, including the effect of acquisition-related transaction and integration costs of $127 million
  • GAAP diluted EPS from continuing operations of $1.10
    Adjusted EPS of $1.29, excluding any acquisition-related items, at higher end of $1.27-$1.30 guidance range
  • Adjusted EPS of $1.28, an increase of 11.5%, including 1 cent of acquisition-related dilution from the net effect of the July 2015 debt financing and the inclusion of Omnicare’s operations; excluding acquisition-related transaction and integration costs

Year-to-date Highlights:

  • Generated free cash flow of approximately $3.4 billion
  • Cash flow from operations of approximately $4.8 billion

Narrowed 2015 Guidance by raising low end of range:

  • Full year Adjusted EPS of $5.14 to $5.18, including Omnicare operations and the debt financing and excluding acquisition-related bridge financing, transaction and integration costs; GAAP diluted EPS from continuing operations of $4.69 to $4.73
  • Fourth quarter Adjusted EPS guidance of $1.51 to $1.55, including Omnicare operations and the debt financing and excluding acquisition-related transaction and integration costs; GAAP diluted EPS from continuing operations of $1.41 to $1.45
  • Confirmed full year free cash flow of $5.9 to $6.2 billion; cash flow from operations of $7.6 to $7.9 billion

2016 Preliminary Outlook:

  • Full year 2016 preliminary Adjusted EPS expected to increase 10% to 14% to $5.68 to $5.88, in line with the Company’s five-year growth targets

CVS Health Corporation (NYSE: CVS) today announced operating results for the three months ended September30, 2015.

Changes in Segment Definition

As a result of the acquisition of Omnicare, Inc. (“Omnicare”), which closed August 18, 2015, the segments of CVS Health Corporation (the “Company”) have been expanded. The Company’s Pharmacy Services Segment now also includes the specialty pharmacy operations of Omnicare. The Company’s Retail Pharmacy Segment now also includes the long-term care (“LTC”) operations, as well as the commercialization services, supply chain solutions and patient support services of Omnicare, and has been renamed the “Retail/LTC Segment.” The LTC operations include providing the distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings. The Company’s Corporate Segment now also includes certain aspects of Omnicare’s corporate expenses.

Revenues

Net revenues for the three months ended September 30, 2015, increased 10.3%, or $3.6 billion, to $38.6 billion compared to the three months ended September 30, 2014. Revenues in the Pharmacy Services Segment increased 13.3%, or $3.0 billion, to $25.5 billion in the three months ended September 30, 2015. The increase was primarily driven by growth in specialty pharmacy and pharmacy network claims. Pharmacy network claims processed during the three months ended September 30, 2015, increased 9.3% to 229 million, compared to 210 million in the prior year. The increase in pharmacy network claim volume was primarily due to net new business as well as growth in Managed Medicaid. Mail choice claims processed during the three months ended September 30, 2015, increased 5.6% to 21.9 million, compared to 20.7 million in the prior year. The increase in mail choice claims was driven by specialty and continued adoption of our Maintenance Choice offerings.

Revenues in the Retail/LTC Segment increased 6.9%, or $1.2 billion, to $17.9 billion in the three months ended September 30, 2015. Approximately half of the increase was driven by the addition of LTC operations acquired as part of the Omnicare acquisition in August 2015. Same store sales for the retail drugstores increased 1.7% versus the third quarter of last year, with pharmacy same store sales up 4.6% and pharmacy same store prescription volumes up 4.4% on a 30-day equivalent basis. Pharmacy same store sales were negatively affected by approximately 450 basis points from recent generic drug introductions. Front store same store sales declined 5.8%. Front store same store sales would have been approximately 490 basis points higher if tobacco and the estimated associated basket sales were excluded from the three months ended September 30, 2014. Front store same store sales were negatively affected by softer customer traffic, partially offset by an increase in basket size.

For the three months ended September30, 2015, the generic dispensing rate increased approximately 130 basis points to 83.8% in the Pharmacy Services Segment and increased approximately 140 basis points to 84.8% in the Retail/LTC Segment.

Operating Profit and Income from Continuing Operations

For the three months ended September 30, 2015, operating profit increased by $75 million in the Pharmacy Services Segment and by $116 million in the Retail/LTC Segment. Excluding acquisition-related transaction and integration costs, the Pharmacy Services Segment grew 7.0% and the Retail/LTC Segment grew 8.4%(1). Both segments benefited from the Omnicare acquisition, increased generic drugs dispensed and favorable purchasing economics. The Pharmacy Services Segment was also positively affected by growth in specialty pharmacy and pharmacy network volume, partially offset by price compression. The Retail/LTC Segment was also positively affected by increased sales and an improved front store margin rate, partially offset by continued reimbursement pressure. The Corporate Segment includes $115 million of acquisition-related transaction and integration costs for the three months ended September 30, 2015, related to the acquisition of Omnicare and the proposed acquisition of the pharmacies and clinics of Target Corporation (“Target”).

Income from continuing operations for the three months ended September 30, 2015 was $1.2 billion, including the effect of $16 million of pre-tax acquisition-related bridge financing costs as well as the transaction and integration costs discussed above (an aggregate of $0.10 per diluted share). Income from continuing operations for the three months ended September 30, 2014 was $0.9 billion, including a $521 million pre-tax loss ($0.27 per diluted share) on the early extinguishment of debt.

GAAP diluted earnings per share (“EPS”) from continuing operations for the three months ended September 30, 2015 and 2014 was $1.10 and $0.81, respectively, which includes the acquisition-related bridge financing, transaction and integration costs in 2015 and the loss on early extinguishment of debt in 2014.

Adjusted EPS for the three months ended September 30, 2015 and 2014, was $1.18 and $0.88, respectively. Adjusted EPS in the three months ended September 30 excludes $160 million and $126 million in 2015 and 2014, respectively, of intangible asset amortization related to acquisition activity. Adjusting for any acquisition-related items and the loss on early extinguishment of debt in 2014, Adjusted EPS was $1.29, at the higher end of the Company’s $1.27 to $1.30 guidance range. The inclusion of Omnicare’s operations midway through the third quarter, which nearly offset the dilution from the July 2015 debt financing, resulted in one cent of net dilution in the quarter. Neither of these items were included in prior guidance given the uncertainty around the timing of the close of the acquisition of Omnicare. Including the one cent of net dilution, Adjusted EPS increased 11.5% to $1.28 for the three months ended September 30, 2015.

President and Chief Executive Officer Larry Merlo stated, “I’m very pleased to report third quarter results that are at the higher end of our expectations. We delivered solid revenue and operating profit growth across our businesses, and we continue to expect significant growth in the fourth quarter, rounding out another terrific year for our company. Year to date, we generated $3.4 billion of free cash, and we are on pace to return more than $6 billion to our shareholders through dividends and share repurchases in 2015.”

Mr. Merlo continued, “The third quarter included the closing of the Omnicare acquisition in mid-August, and we are very optimistic about the potential that this long-term care business creates for us. It provides a new pharmacy dispensing channel, enhancing our ability to provide continuity of care for patients as they transition through the health care system. At the same time, we look forward to closing the Target pharmacy acquisition, which will enable us to reach more patients, add a new retail channel for our unique offerings, and expand convenient options for consumers. These acquisitions reinforce our progress on our established long-term targets.”

Guidance

Given the solid performance this quarter and the closing of the acquisition of Omnicare, the Company narrowed guidance for the full year 2015 by raising the low end, and now expects to deliver Adjusted EPS of $5.14 to $5.18, up from $5.11 to $5.18 and GAAP diluted EPS of $4.69 to $4.73, up from $4.64 to $4.71. This Adjusted EPS guidance includes Omnicare’s operations and the July 2015 debt financing and excludes the affect of acquisition-related bridge financing, transaction and integration costs that have been recorded and that are expected in the fourth quarter.The Company continues to expect to deliver 2015 free cash flow of $5.9 billion to $6.2 billion, and 2015 cash flow from operations of $7.6 billion to $7.9 billion.

For the fourth quarter of 2015, the Company expects to deliver Adjusted EPS of $1.51 to $1.55, excluding any acquisition-related transaction and integration costs, and GAAP diluted EPS from continuing operations of $1.41 to $1.45.

2016 Preliminary Outlook

For the year ending 2016, the Company provided a preliminary outlook that reflects 10% to 14% growth in Adjusted EPS to a range of $5.68 to $5.88. This range is in line with the five-year growth targets the Company provided at its Analyst Day in December of 2013 for the years 2013 through 2018. At that time, the Company stated and has since re-iterated that it expects to grow its Adjusted EPS at a compounded annual rate of 10% to 14% for the five-year period. This outlook for 2016 reflects growth from 2013 through 2016 at a compounded annual rate of 13% to 14%, at the higher end of the five-year targets.

Retail Drugstore Real Estate Program

During the three months ended September 30, 2015, the Company opened 43 new retail drugstores and closed two retail drugstores. In addition, the Company relocated 11 retail drugstores. As of September 30, 2015, the Company operated 7,911 retail drugstores in 44 states, the District of Columbia, Puerto Rico and Brazil.

Teleconference and Webcast

The Company will be holding a conference call today for the investment community at 8:30 am (EDT) to discuss its quarterly results. An audio webcast of the call will be broadcast simultaneously for all interested parties through the Investor Relations section of the CVS Health website at http://investors.cvshealth.com. This webcast will be archived and available on the website for a one-year period following the conference call.

About the Company

CVS Health is a pharmacy innovation company helping people on their path to better health. Through its more than 7,900 retail drugstores, more than 1,000 walk-in medical clinics, a leading pharmacy benefits manager with more than 70 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, and expanding specialty pharmacy services, the Company enables people, businesses and communities to manage health in more affordable, effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. By their nature, all forward-looking statements involve risks and uncertainties. Actual results may differ materially from those contemplated by the forward-looking statements for a number of reasons as described in our Securities and Exchange Commission filings, including those set forth in the Risk Factors section and under the section entitled “Cautionary Statement Concerning Forward-Looking Statements” in our most recently filed Annual Report on Form10-K and Quarterly Report on Form 10-Q.

(1)Excluding $12 million of acquisition-related integration costs, operating profit for the Retail/LTC Segment increased $128 million, or 8.4%, from $1,527 million for the three months ended September 30, 2014 to $1,655 million for the three months ended September 30, 2015.

Source : CVS Health Corporation

RELATED LINKS

https://www.cvshealth.com

CVS announced the results to date for the previously announced private exchange offers and solicitation of consents

WOONSOCKET, R.I., 2015-10-8 — /EPR Retail News/ — CVS Health Corporation (“CVS Health”, NYSE: CVS) announced today the results to date for the previously announced (A) private exchange offers (“Exchange Offers”) to Eligible Holders (as defined below) to exchange new 4.75% Senior Notes due 2022 (the “New CVS Health 2022 Notes”) and new 5.00% Senior Notes due 2024 (the “New CVS Health 2024 Notes” and, together with the New CVS Health 2022 Notes, the “New CVS Health Notes”), in each case issued by CVS Health, and cash payments for the 4.75% Senior Notes due 2022 (the “Existing Omnicare 2022 Notes”) and the 5.00% Senior Notes due 2024 (the “Existing Omnicare 2024 Notes” and, together with the Existing Omnicare 2022 Notes, the “Existing Omnicare Notes”), in each case issued by Omnicare, Inc. (“Omnicare”), which was recently acquired by CVS Health, and (B) solicitation of consents (the “Consent Solicitations”) from Eligible Holders of Existing Omnicare Notes to proposed amendments that would eliminate substantially all restrictive covenants and certain events of default and other provisions of the indentures under which such Existing Omnicare Notes were issued (the “Proposed Amendments”).

The aggregate principal amount of Existing Omnicare 2022 Notes validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on October 5, 2015 (the “Early Tender Date”) was $384,801,000, representing approximately 96.2% of the $400,000,000 aggregate principal amount of outstanding Existing Omnicare 2022 Notes. The aggregate principal amount of Existing Omnicare 2024 Notes validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on the Early Tender Date, was $294,729,000, representing approximately 98.2% of the $300,000,000 aggregate principal amount of outstanding Existing Omnicare 2024 Notes.

As the consent of the Eligible Holders of a majority of the aggregate principal amount of the Existing Omnicare Notes outstanding of both series has been obtained (the “Requisite Consents”), the Proposed Amendments for each series have been approved. Accordingly, it is expected that Omnicare and the trustee under the applicable indentures for the Existing Omnicare Notes will execute and deliver a supplemental indenture relating to the Proposed Amendments that will become effective upon acceptance of the applicable series of Existing Omnicare Notes for exchange pursuant to the applicable Exchange Offer on the Early Settlement Date (as defined below).

CVS Health intends to consummate the Exchange Offers in respect of both series of Existing Omnicare Notes, subject to the satisfaction of or, where permitted, the waiver of the conditions discussed in a confidential offering memorandum and consent solicitation statement dated September 22, 2015 (the “Offering Memorandum”).

For each $1,000 principal amount of Existing Omnicare Notes validly tendered at or prior to 5:00 p.m., New York City time, on the Early Tender Date and not validly withdrawn, Eligible Holders of Existing Omnicare Notes will be eligible to receive the applicable total exchange consideration set out in the table below, which includes the applicable early tender premium set out in such table (the “Early Tender Premium”). Payment is expected to be made on October 9, 2015 (the “Early Settlement Date”) for such Existing Omnicare Notes accepted for purchase.

Titleof
Series

CUSIP Number

Principal Amount Outstanding

Exchange Consideration(1)

Early Tender Premium(1)

Total Exchange Consideration(1)(2)

4.75% Senior
Notes due
2022

681904AS7

$400,000,000

$970 principal amount of New CVS Health 2022 Notes and $2.50 in cash

 

$30 principal amount of New CVS Health 2022 Notes

$1,000 principal amount of New CVS Health 2022 Notes and $2.50 in cash
5.00% Senior Notes due 2024

681904AT5

$300,000,000

$970 principal amount of New CVS Health 2024 Notes and $2.50 in cash

$30 principal amount of New CVS Health 2024 Notes

$1,000 principal amount of New CVS Health 2024 Notes and $2.50 in cash

(1)For each $1,000 principal amount of Existing Omnicare Notes, subject to any rounding as described in the Offering Memorandum.
(2) Includes Early Tender Premium.

The New CVS Health Notes delivered in exchange for validly tendered Existing Omnicare Notes will bear interest from (and including) the most recent interest payment date on the Existing Omnicare Notes. No cash interest will be paid in connection with the Exchange Offers with respect to the Existing Omnicare Notes tendered for exchange in the Exchange Offers.

Tendered Existing Omnicare Notes may no longer be withdrawn. Holders may still tender Existing Omnicare Notes at any time prior to 11:59 p.m., New York City time, on October 20, 2015, unless extended (the “Expiration Date”), but will be only eligible to receive the Exchange Consideration listed in the table above.

The New CVS Health Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any other applicable securities laws and, unless so registered, the New CVS Health Notes may not be offered, sold, pledged or otherwise transferred within the United States or to or for the account or benefit of any U.S. person, except pursuant to an exemption from the registration requirements of the Securities Act. Accordingly, the Exchange Offers are being made only (i) to qualified institutional buyers as defined in Rule 144A under the Securities Act and (ii) to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act (collectively, “Eligible Holders”).

The complete terms and conditions of the Exchange Offers and the Consent Solicitations, as well as the terms of the New CVS Health Notes, are set forth in the Offering Memorandum and a related letter of transmittal and consent. The Offering Memorandum and related letter of transmittal and consent will only be made available to holders who complete an eligibility letter confirming their status as Eligible Holders. Holders of Existing Omnicare Notes who wish to receive a copy of the eligibility letter for the Exchange Offers may contact D.F. King & Co., Inc. toll free at (800) 814-9324, (212) 269-5550 (banks and brokerage firms) or at www.dfking.com/Omnicare.

This press release does not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release is being issued pursuant to Rule 135c under the Securities Act.

About CVS Health
CVS Health (NYSE: CVS) is a pharmacy innovation company helping people on their path to better health. Through its more than 7,800 retail drugstores, nearly 1,000 walk-in medical clinics, a leading pharmacy benefits manager with more than 70 million plan members, and expanding specialty pharmacy services, CVS Health enables people, businesses and communities to manage health in more effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs.

Cautionary Statement Concerning Forward Looking Statements

This release contains certain “forward looking statements” within the meaning of the federal securities laws. In addition, the Company and its representatives may, from time to time, make written or verbal forward looking statements, including statements contained in the Company’s filings with the SEC and in its reports to stockholders, press releases, webcasts, conference calls, meetings and other communications. Generally, the inclusion of the words “believe,” “expect,” “intend,” “estimate,” “project,” “anticipate,” “will,” “should” and similar expressions identify statements that constitute forward looking statements. All statements addressing operating performance of CVS Health or any subsidiary, events or developments that the Company expects or anticipates will occur in the future, including statements relating to corporate strategy; revenue growth; earnings or earnings per common share growth; adjusted earnings or adjusted earnings per common share growth; free cash flow; debt ratings; inventory levels; inventory turn and loss rates; store development; relocations and new market entries; retail pharmacy business, sales trends and operations; pharmacy business management business, sales trends and operations; the Company’s ability to attract or retain customers and clients; Medicare Part D competitive bidding, enrollment and operations; new product development; and the impact of industry developments, as well as statements expressing optimism or pessimism about future operating results or events, are forward looking statements within the meaning of the federal securities laws.

The forward looking statements are and will be based upon management’s then current views and assumptions regarding future events and operating performance, and are applicable only as of the dates of such statements. The Company undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events, or otherwise.

SOURCE CVS Health Corporation

CVS study: Initial Prescription Fills Can Accurately Predict Long-term Medication Adherence

Approach can help quickly identify patients most likely to benefit from interventions to improve medication adherence

WOONSOCKET, R.I., 2015-9-22 — /EPR Retail News/ — A new study by researchers at the CVS Health (NYSE:CVS) Research Institute and Brigham and Women’s Hospital provides evidence that patients’ patterns of medication fills in the first few months after starting on a chronic therapy accurately predict future medication adherence behavior. The study, published in The American Journal of Managed Care, suggests that this approach may help quickly identify those patients most likely to benefit from medication adherence interventions.

“With the increasing availability of rich patient data, we can better anticipate how the patients we manage will take their medications,” said Niteesh Choudhry, MD, PhD, associate physician, Division of Pharmacoepidemiology and Pharmacoeconomics, Brigham and Women’s Hospital and associate professor, Harvard Medical School and the study’s senior author. “This research shows that by focusing on a patient’s initial, short-term medication filling behavior – are they or are they not refilling their prescription on time during the first few months of therapy – we can predict with great precision whether a patient will continue to take the medication as prescribed over the long-term.”

The study included claims data from more than 77,000 Medicare beneficiaries that began taking a statin or statin combination drug over a three year period and whose pharmacy benefits are administered by CVS/caremark, the pharmacy benefit management company of CVS Health. Based on patterns of prescription filling over the year following therapy initiation, the researchers used group-based trajectory models to classify patients into six adherence trajectories– ranging from non-adherent to near-perfect adherence–to help capture both duration and intensity of medication taking. The results showed that patient patterns of initial medication filling in the first two to four months following initiation of a prescription accurately predicted future adherence behavior, allowing precise prediction of the patterns of medication taking over the subsequent year.

This research helps to further validate group-based trajectory modeling as an accurate approach to classify patient medication adherence behaviors. This study builds on a growing body of peer-reviewed literature developed through the research partnership between Brigham and Women’s Hospital and the CVS Health Research Institute. Previous studies by these research partners have demonstrated that the group-based trajectory model offers greater precision than other sophisticated computational approaches to predict adherence, after initially describing this methodology in a publication in the journal Medical Care in 2013.

“This approach is helping us better target interventions to those patients who are most likely to benefit because trajectory modeling differentiates between patients who struggle with adherence at different times during their treatment,” said William Shrank, MD, MSHS, senior vice president and Chief Scientific Officer of CVS Health and study co-author. “It can also be easily replicated and available to support a wide spectrum of payors and providers who are attempting to improve the quality and reduce the costs of health care. Increasingly, we are finding that, through better analytics, we can deliver the right intervention to the right patient at the right time.”

Research shows that half of people who have long-term prescriptions for chronic conditions do not take their medicines as prescribed, costing the U.S. nearly $300 billion and tens of thousands of lives each year. As a pharmacy innovation company, CVS Health is using advanced analytics to more effectively target medication adherence interventions, improve health outcomes and reduce health care costs. In fact, CVS Health recently launched the Vulnerable Patient Index (VPI), a tool that uses pharmacy claims data to risk-stratify patients and identify CVS/caremark members most likely to generate high total health care costs resulting from poor medication adherence or unsafe use of complex regimens. By leveraging rich claims databases to better understand risk and to anticipate patient behaviors, CVS Health is better positioned to manage the health of populations by delivering tailored interventions that address individual patient medication use challenges.

The CVS Health Research Institute is focused on contributing to the body of scientific knowledge related to pharmacy and health care through research collaborations with external academic institutions, participation in federally-funded research, analysis and sharing of CVS Health data sources and coordination of pilot programs and initiatives. This analysis is part of a multi-year research collaboration with Brigham and Women’s Hospital to better understand patient behavior, particularly around medication adherence. CVS Health Research Institute findings support a continuous quality improvement environment, which encourages product innovation and development to benefit CVS Health patients, clients and their members.

About CVS Health
CVS Health (NYSE: CVS) is a pharmacy innovation company helping people on their path to better health.  Through its 7,800 retail drugstores, nearly 1,000 walk-in medical clinics, a leading pharmacy benefits manager with more than 70 million plan members, and expanding specialty pharmacy services, the Company enables people, businesses and communities to manage health in more affordable, effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs.  Find more information about how CVS Health is shaping the future of health at www.cvshealth.com.

SOURCE: CVS Health

CVS Health study evaluates the impact of narrow pharmacy networks on medication adherence

WOONSOCKET, R.I., 2015-9-9 — /EPR Retail News/ — A new CVS Health (NYSE: CVS) Research Institute study published today in JAMA Internal Medicine is the first to evaluate the impact of narrow pharmacy networks on medication adherence. The analysis showed that this approach, which incentivizes plan members to use specific in-network pharmacies, is associated with improved medication adherence. In addition, the researchers observed an even greater impact on adherence when there were 90-day prescription programs also in place. Narrow networks have previously been criticized for limiting access and adversely impacting medication adherence.

“There are few opportunities in health care when we can improve both quality of care and health outcomes while helping to manage health care costs,” said William H. Shrank, MD, MSHS, senior vice president and Chief Scientific Officer, CVS Health and a study author. “This first-of-its-kind study suggests that narrow networks may be one such opportunity by providing clear evidence that these networks – already an established cost management strategy – also help optimize members’ adherence.”

The researchers reviewed de-identified pharmacy claims data for more than 200,000 patients on chronic therapies to treat high cholesterol, high blood pressure, diabetes and depression over a 12-month period. These patients received prescription drug coverage through CVS/caremark, the pharmacy benefit management (PBM) business of CVS Health. The study found that those patients in commercial drug plans with narrow pharmacy networks had improved medication adherence as indicated by their medication possession ratio (MPR), which measures patients’ available medication on hand over time and is commonly used as an indication of adherence. The researchers also found that if 90-day prescription programs, where patients receive a three-month supply of their chronic medication prescription during one pharmacy visit, were used in conjunction with a narrow network there was an even greater improvement in members’ adherence.

As a pharmacy innovation company, CVS Health is focused on improving health outcomes while lowering costs for CVS/caremark PBM clients and their members. In recent years, narrow and preferred pharmacy network strategies have become more prevalent as ways  to help manage rising pharmacy costs and are a widely used feature of government-sponsored, Exchange and commercial health plans. However, their impact  on patient health outcomes and quality of care had not previously been established. Concerns have also been raised that these networks may adversely affect medication adherence by reducing members’ geographic access to pharmacy care and choice. Many government-sponsored plans address this concern by requiring plan sponsors to have in-network retail pharmacies within close proximity of members’ residences. In addition, independent research shows that the majority of Medicare beneficiaries are satisfied with their preferred pharmacy network plan reporting that the in-network pharmacies are conveniently located.

“Despite common concerns that narrow pharmacy networks reduce access, we believe they can actually help encourage plan members to establish a pharmacy home where patients with chronic diseases can receive coordinated care and effective medication adherence support,” added Dr. Shrank. “This research suggests that narrow networks are one more way we can help encourage medication adherence and have an even greater impact as we help people on their path to better health.”

Research shows that half of people who have long-term prescriptions for chronic conditions do not take their medicines as prescribed, costing the U.S. nearly $300 billion and tens of thousands of lives each year. In addition to PBM plan designs that promote adherence and cost-savings, CVS Health is building a range of programs across the enterprise to meet the various challenges individual patients face when taking their medications. These include programs that synchronize prescription pick-up for patients with multiple medications, comprehensive medication reviews to help identify potential safety issues and adherence-improving interventions that can be delivered at the retail pharmacy, via digital tools and at the patient’s home.

The CVS Health Research Institute is focused on contributing to the body of scientific knowledge related to pharmacy and health care through research collaborations with external academic institutions, participation in federally-funded research, analysis and sharing of CVS Health data sources and coordination of pilot programs and initiatives. CVS Health Research Institute findings support a continuous quality improvement environment, which encourages product innovation and development to benefit CVS Health patients, clients and their members.

For more detail on the data, please visit the following link.

About CVS Health
CVS Health (NYSE: CVS) is a pharmacy innovation company helping people on their path to better health.  Through its 7,800 retail drugstores, nearly 1,000 walk-in medical clinics, a leading pharmacy benefits manager with more than 70 million plan members, and expanding specialty pharmacy services, the Company enables people, businesses and communities to manage health in more affordable, effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs.  Find more information about how CVS Health is shaping the future of health at www.cvshealth.com.

SOURCE: CVS Health

CVS/pharmacy survey: 37 percent of U.S. adults missed a life event because they were feeling ill with flu-like symptoms

Flu vaccinations now available every day at CVS/pharmacy® and MinuteClinic® nationwide, including evening and weekend hours, no appointment necessary

WOONSOCKET, R.I., 2015-8-24— /EPR Retail News/ — A new survey from CVS/pharmacy released today found that nearly two in five U.S. adults (37 percent) have missed a life event because they were feeling ill with flu-like symptoms. The most commonly missed events include get-togethers with friends (17 percent), family gatherings (17 percent) and a work meeting or presentation (13 percent).

In the survey, conducted online by Harris Poll on behalf of CVS/pharmacy in July 2015 among over 2,000 U.S. adults ages 18+, nearly three-fifths (58 percent) of Americans indicate that they get a flu vaccine every year or plan to get one this year, with commonly cited reasons being:

  • They believe it is the best way to prevent getting the flu (65 percent);
  • To protect their family from the flu virus (38 percent);
  • And, because they don’t want to miss important life events by having the flu (26 percent).

All CVS/pharmacy and MinuteClinic locations nationwide are now offering flu vaccinations.[1] The Centers for Disease Control and Prevention (CDC) recommends that everyone who is at least 6 months old get a flu shot as soon as the vaccine is available.

“No one wants to get sick with the flu, and getting sick is even worse when it causes us to miss an important life event such as a vacation, wedding, holiday gathering or a child’s big sporting event or recital,” said Tom Davis, RPh, Vice President of Pharmacy Professional Practices at CVS/pharmacy. “The simple fact is that getting an annual flu shot is the best protection available against catching or spreading the flu.”

“It is recommended to get a flu shot as soon as the vaccine is available because it takes a couple of weeks for it to build immunity in order to provide you with the best protection before flu season peaks,” said Nancy Gagliano, Senior Vice President, CVS Health and Chief Medical Officer, CVS/minuteclinic. “You should also get vaccinated every year because influenza strains may change year to year and the vaccines are updated annually.”

Among Americans who have ever received a flu shot, 38 percent indicated that convenience plays a major role in their decision about where to get the vaccination. More than 7,800 CVS/pharmacy stores and nearly 1,000 MinuteClinic locations inside select CVS/pharmacy stores provide flu shots every day, including evenings and weekends, with no appointment needed.

In addition, customers will receive a 20 percent off CVS/pharmacy Shopping Pass when they get a flu shot at CVS/pharmacy or MinuteClinic.[2] The Shopping Pass can be used with the CVS/pharmacy ExtraCare Rewards card to save 20 percent off non-pharmacy purchases up to $100.[3]

Getting the flu shot at CVS/pharmacy or MinuteClinic is also very affordable. Thirty-six percent of Americans who have ever received a flu vaccine indicated that “where their insurance is accepted” is a determining factor for where they get the vaccine administered. The flu vaccine is a preventive service under the Affordable Care Act, fully covered and available at no cost through most insurance plans, including Medicare Part B. CVS/pharmacy and MinuteClinic can directly bill many national and regional health plans that cover all or part of the cost of a flu shot.

Additional findings from the survey include:

  • Two-thirds (67 percent) of employed Americans would go to work even if they were feeling ill with flu-like symptoms.
  • The life events Americans would be most upset about missing because they were feeling ill with flu-like symptoms include missing a vacation getaway (63 percent), family gathering (56 percent), wedding (54 percent), graduation (47 percent) and birthday party (43 percent).
  • 92 percent of Americans say they would take actions to protect themselves from catching the flu — including regularly washing hands as often as possible (77 percent), drinking more water (58 percent), taking vitamins (55 percent), eating more nutritious food (50 percent), wiping down surface areas with sanitizing wipes (46 percent) and regularly using hand sanitizer (45 percent).
  • Just over three fourths of seniors (76 percent), ages 65 and up, get the flu vaccine every year and/or plan on getting the flu shot this year.

The high dose vaccine is available at CVS/pharmacy and MinuteClinic locations for those ages 65 and older. It contains four times the antigens as the regular flu vaccine and is intended to create a stronger immune response for seniors, who are at greater risk of developing severe flu-related illnesses. The quadrivalent flu vaccine is also available and offers protection against an additional influenza B virus than the standard seasonal flu vaccine.

In addition to flu shots, CVS pharmacists and MinuteClinic nurse practitioners and physician assistants are available to provide a number of other vaccinations, including pneumonia and pertussis (whooping cough), among others. Visit www.cvs.com/getvaccinated or www.minuteclinic.com/services/vaccination for more information on the vaccines offered. Certain immunizations have age and location restrictions.

Please visit CVS.com/flu for more information and additional resources. Consumers can also visit www.CVS.com or use the CVS/pharmacy Mobile smartphone app to locate a nearby store.

Survey Methodology

This survey was conducted online within the United States by Harris Poll on behalf of CVS from July 17-21, 2015 among 2,024 adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodologies, including weighting variables, please contact Stephanie Cunha at scunha@cvs.com or Matt Mendolera-Schamann at mendo@matternow.com.

About CVS/pharmacy
CVS/pharmacy, the retail division of CVS Health (NYSE: CVS), is America’s leading retail pharmacy with over 7,800 locations. It is the first national pharmacy to end the sale of tobacco and the first pharmacy in the nation to receive the Community Pharmacy accreditation from URAC, the leading health care accreditation organization that establishes quality standards for the health care industry. CVS/pharmacy is reinventing pharmacy to help people on their path to better health by providing the most accessible and personalized expertise, both in its stores and online at CVS.com. General information about CVS/pharmacy and CVS Health is available at www.cvshealth.com.

About MinuteClinic
CVS/minuteclinic is the retail medical clinic of CVS Health (NYSE: CVS), the largest pharmacy health care provider in the United States. MinuteClinic launched the first retail medical clinics in the United States in 2000 and is the largest provider of retail clinics with nearly 1,000 locations in 31 states and the District of Columbia. By creating a health care delivery model that responds to patient demand, MinuteClinic makes access to high-quality medical treatment easier for more Americans. Nationally, the company has provided care through more than 25 million patient visits, with a 95% customer satisfaction rating. MinuteClinic is the only retail health care provider to receive three consecutive accreditations from The Joint Commission, the national evaluation and certifying agency for nearly 20,000 health care organizations and programs in the United States. For more information, visit www.minuteclinic.com.

MEDIA CONTACTS:

For CVS/pharmacy

Stephanie Cunha
scunha@cvs.com
401.770.9354

OR

Matt Mendolera-Schamann, Matter Communications
mendo@matternow.com
978.518.4524

For MinuteClinic

Brent Burkhardt, TBC
bburkhardt@tbc.us
410.986.1303

1. Flu shots are available when immunizing pharmacist, MinuteClinic nurse practitioner or physician assistant is on duty, while supplies last.
2. Offer is not valid in the states of AR, NY, NY and HI. Shopping Pass is not available at MinuteClinic in the states of MA, PA and RI.
3. Normal ExtraCare purchase restrictions apply for 20% Off Shopping Pass.

###

CVS pharmacy survey

CVS Health study: employer-sponsored smoking cessation programs with financial incentives associated with higher rates of quitting smoking

WOONSOCKET, R.I., 2015-5-15 — /EPR Retail News/ — A new study by the CVS Health (NYSE: CVS) Research Institute and researchers at the Perelman School of Medicine at the University of Pennsylvania, published today in the New England Journal of Medicine, finds that employer-sponsored smoking cessation programs with financial incentives are associated with higher rates of quitting smoking and sustained abstinence. Findings of the study, conducted among a sample of CVS Health colleagues and their relatives and friends, helped shape an innovative smoking cessation program for CVS Health colleagues that will launch in June 2015.

“More than 50 years after the release of the first Surgeon General’s report on the harmful effects of tobacco, smoking still remains the leading cause of preventable illness and death in the U.S. While as a society, we have made significant strides in curbing rates of smoking, there is still a clear opportunity to make an even greater impact,” said Troyen A. Brennan, MD, MPH, executive vice president and Chief Medical Officer, CVS Health and a study co-author. “As we think about novel approaches to smoking cessation, these findings provide evidence that financial incentives can be a powerful motivator.”

The researchers randomly assigned approximately 2,500 CVS Health colleagues and their family and friends to one of four incentive-based smoking cessation programs or to usual care, which consisted of informational resources and free access to a behavioral-modification program and nicotine-replacement therapy. Across all of the incentive-based programs, participants were eligible for up to $800 for successfully quitting smoking but the programs differed in how incentives were accrued and disbursed. Two of the programs required participants to pay an upfront deposit of $150, which was reimbursed if participants successfully quit smoking.  Overall, study participants who enrolled in any of the four incentive-based programs were nearly three times more likely to quit smoking than those who received usual care alone. In addition, although participants assigned to the groups requiring an upfront deposit were more likely to decline participation than those in the pure incentive-based programs, deposit programs led to nearly twice the rate of abstinence from smoking at six months among people who would have accepted either type of program.

“This study is one of the first to compare incentive programs that first require deposits and programs that entail pure rewards to promote healthy behaviors,” added Scott D. Halpern, MD, PhD, Assistant Professor of Medicine, Perelman School of Medicine at the University of Pennsylvania and lead author of the study. “The results are fully consistent with the behavioral theory that people are typically more motivated to avoid losses than to seek gains. Although the need to make monetary deposits deters some people from participating, deposit-requiring incentive programs can produce robust, long-term results in helping to change complex health behaviors.”

As part of CVS Health’s purpose of helping people on their path to better health, CVS Health will launch 700 Good Reasons, an innovative smoking cessation program for its colleagues who smoke or use tobacco of any kind. Set to launch next month, the program was developed based on key learnings and insights gained from this new research in order to create an incentive program that would both encourage participation and result in sustained success in quitting smoking.  Program participants are required to pay a $50 deposit and can earn up to $700 as well as a refund of their full deposit if they commit to quit and are successful. The financial incentives will be paid to participating employees who test tobacco-free at six and 12 months. In addition, those enrolled will also be encouraged to participate in CVS/minuteclinic’s Start to Stop® smoking cessation program which offers a personalized quit plan, nicotine replacement therapy and support to help stay on track.

“Last year, we made a commitment as a company to be tobacco-free as we strive to fulfill our purpose of helping people on their path to better health and that includes our colleagues,” said Lisa Bisaccia, executive vice president and Chief Human Resources Officer, CVS Health. “The research we conducted with the University of Pennsylvania provided us with important information about what can motivate and help our colleagues stop smoking. We are excited to offer this innovative program to our colleagues who want to quit smoking as we foster a healthy workplace and workforce.”

CVS Health stopped selling tobacco products in all CVS/pharmacy locations in September 2014 to support the health and well-being of its patients and customers.

The CVS Health Research Institute is focused on contributing to the body of scientific knowledge related to pharmacy and health care through research collaborations with external academic institutions, participation in federally-funded research, analysis and sharing of CVS Health data sources and coordination of pilot programs and initiatives. CVS Health Research Institute findings support a continuous quality improvement environment, which encourages product innovation and development to benefit CVS Health patients, clients and their members.

The study was also supported by a grant from the National Cancer Institute (CA159932) and a grant from the National Institute on Aging (AG036592).

For more detail on the data, please visit the following link: http://www.nejm.org/doi/full/10.1056/NEJMoa1414293

 

About CVS Health
CVS Health (NYSE: CVS) is a pharmacy innovation company helping people on their path to better health.  Through its 7,800 retail drugstores, nearly 1,000 walk-in medical clinics, a leading pharmacy benefits manager with more than 70 million plan members, and expanding specialty pharmacy services, the Company enables people, businesses and communities to manage health in more affordable, effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs.  Find more information about how CVS Health is shaping the future of health at www.cvshealth.com.

Media Contact:
Christine Cramer Christina Beckerman
CVS Health CVS Health
(401) 770-3317 (401) 770-8868
christine.cramer@cvscaremark.com christina.beckerman@cvscaremark.com