NEW YORK, May 8, 2007 (PRIME NEWSWIRE) -- The New York Business Group on Health (NYGBH), a not-for-profit organization representing 160 businesses in New York, New Jersey and Connecticut, announced today that it has created a new pharmacy purchasing program for NYBGH member companies. The Total Health Management Pharmacy Purchasing Coalition will give participating NYBGH companies additional buying power for their prescription drug benefit programs. CVS/Caremark, one of the nation's leading prescription benefits managers (PBMs), will provide services for the NYBGH drug purchasing coalition. NYBGH is also the parent company of the HealthPass health insurance product and purchasing alliance for small business, which currently covers over 10,000 lives.
"Fifty-one percent of employers say that healthcare costs are their greatest business concern. NYBGH helps member companies by providing a purchaser aligned means of collectively buying services that will improve total health, improve safety and compliance, promote employer collaboration and sharing of benefit design best practices, and provide cost savings," said Laurel Pickering, Executive Director of the New York Business Group on Health. "This program will apply to the fastest growing element of healthcare spending-prescription drugs. Over the next three years, our focus will be on growing and evolving the drug purchasing coalition to benefit members of the NYBGH."
CVS/Caremark will provide NYBGH members participating in the Total Health Management Pharmacy Purchasing Coalition with a customized drug management strategy that includes a fully integrated nationwide pharmacy network with substantial discounts and a quality mail service for maintenance drugs. Preliminary/average savings from those who have looked at the program have ranged from five to ten percent. Through CVS/Caremark's total health management strategy clinical support programs, wellness and pharmacy benefit management (PBM) silos are integrated to encourage more effective population management. CVS/Caremark's patient-centric approach provides a number of "touch points" with the plan participant via interactive web tools and e-prescribing at retail and prescribing locations. By monitoring member utilization, CVS/Caremark can develop personalized behavior interventions to communicate with the member and improve health.
"CVS/Caremark greatly appreciates the opportunity to serve NYBGH, which sees member and physician engagement as a top priority and a way to increase employees' knowledge and responsibility for improving their own health," said Jim Fowler, Caremark's Vice President of Employer Sales. "Participating companies can rely on our pharmacy benefit plan communications, online tools, and health management and clinical programs to achieve that objective. Caremark's recently completed merger with CVS to form CVS/Caremark will further enhance the experience of NYBGH members at the point of sale at CVS pharmacies nationwide."
For a no obligation feasibility study, please contact Janaera Gaston at jgaston@nybgh.org.
About the New York Business Group on Health
Founded in 1982, the New York Business Group on Health (NYBGH) is a not-for-profit coalition of 150 businesses and is the only organization in the New York Metropolitan area exclusively devoted to employer health benefit issues. NYBGH functions as the forum for businesses to explore contemporary healthcare issues and find practical resolutions. Members include employers and health-related organizations. The mission of NYBGH is to provide leadership and knowledge to employers to promote a value-based, market-driven healthcare system. For more information, please visit: www.nybgh.org.