Caremark ' s President Speaks at ' Forum 2023 '

David Joyner is President& EVP of CVS ' Caremark PBM business. Caremark refers to that event and business as " Payor Solutions " whose website is athttps://payorsolutions.cvshealth.com/. Truth be told, CVS Caremark would rather patients whose insurance use Caremark as their PBM do not know what the PBM ' s executives say or do behind their veil of secrecy.On May 5, 2023, the Caremark PBM business of CVS Health hosted an event it called " Forum 2023 " , and Mr. Joyner gave a presentation on " What ' next for payors " . It was rather amusing that CVS Health said: " though the [PBM] system is working – from claim adjudication to drug dispensing, it ' s important that payors understand what ' s on the horizon " . For example, David Joyner blames insulin manufacturers for continually raising prices, while ignoring the rebates his own industry and his company in particular work to " aggregate " . He also talks only of how Caremark offers clients low " net " prices, while ignoring that the back-end rebate discounts are the very reason drug manufacturers are forced to raise drug prices so they can pay ever larger rebates to PBMs. Mr. Joyner addresses the recent developments in the insulin market and how that no longer appears to be a way for insurance companies (including one in his own company Aetna) use to bankroll premium offsets given to their employer clients and those rebates lower premiums for all at the expense of patients. He cites the spread between ret...
Source: Scott's Web Log - Category: Endocrinology Tags: 2023 Aetna Caremark CVS Caremark CVS Health David Joyner Payor Solutions Source Type: blogs