CVS Health (NYSE:CVS) announced this week that it plans to launch a program to help consumers compare drug prices at the pharmacy counter.
The company’s Rx Savings Finder program is designed to enable pharmacists to evaluate individual prescriptions and find the lowest cost option for consumers. The tool is available at all CVS Pharmacy locations, the company said.
The Rx Savings Finder first checks if a patient’s prescribed medication is listed on their formulary and if it’s the cheapest option available. The tool also looks for a generic medication or therapeutic alternative covered under the consumer’s pharmacy benefit. CVS added that its tool can identify if it would be cheaper for a consumer to fill a 90-day prescription rather than a 30-day prescription.
“CVS Health is taking a leadership role in developing programs and initiatives to help consumers save money on their overall prescription drug costs and stay adherent to the medicines they need,” the company said in a statement. “And while this initiative signals progress, the company remains committed to doing even more across the enterprise to help patients on their path to better health.”
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