SunRx is a health care technology company that assists healthcare facilities with 340B administration, including split-billing and 340B contract pharmacy network administration and other pharmacy transactions to Eligible Patients; and other technology products which assist healthcare facilities to optimize their supply chain and pharmacy operations.
14 Feb 2019
CVS Caremark sent out notices to pharmacies owned by 340B Covered Entities (that serve 80% or more 340B eligible members), to impose “unique terms and conditions, including dramatically lower reimbursement rates,” originally slated to be effective 2/1/19.
This caused significant confusion (and concern), prompting CVS Caremark to delay the implementation until 4/1/19 and giving the affected pharmacies until 3/15/19 to respond in writing with either acceptance or rejection or the revised terms and conditions.
340B Health and Covered Entities reached out to senior leaders at CVS Caremark, in addition to considering advocacy at the federal level, in an attempt to encourage them to reverse course.
It has been reported by Modern Healthcare and 340B Health that on February 11, 2019, CVS Caremark did change course and has announced it will not institute the substantial cuts to reimbursements for these affected pharmacies (based on the feedback it received from the stakeholders). They have shared they are currently in the process of notifying the affected pharmacies that received the prior notices of its change of direction.
This is a positive outcome for these pharmacies and will allow the affected 340B Covered Entities to
continue using the savings from the program to serve their patients.Read the full press release