Health care continues to evolve at a rapid pace and with that has come new technological advancements and care models. This includes tools and programs to help patients manage a wide range of conditions, from insomnia to weight loss to solutions that provide disease management and medication adherence support.
To help increase access to these tools and solutions, CVS Health has introduced Vendor Benefit Management, a first-of-its-kind service that allows CVS Caremark pharmacy benefit management (PBM) clients to more easily and efficiently onboard and manage third-party vendors and make their solutions available to members.
Our Streamlined Service
Increasingly, employers are supplementing their standard benefit offerings with novel digital and non-digital health and wellness solutions. In 2018, the average employer offered 14 supplementary health care solutions from different sources, including health plans and third-party vendors.
However, the process to onboard and manage disparate vendors can be complex, resource intensive and time-consuming. Vendor Benefit Management aims to make this process easier for our PBM clients.
Specifically, the new service enables:
- A more streamlined process to onboard and manage multiple vendors
- An easy way to access negotiated pricing and standardized verification of member eligibility in real time
- Simplified and streamlined billing and payment processing
- Standardized measurement and reporting across all vendors
Big Health’s Sleep Solution
Poor-quality sleep and insomnia affect nearly 30 percent of adults and can underlie or impact a wide variety of mental health conditions. Big Health, a digital therapeutics company, is the first participating Vendor Benefit Management vendor and Sleepio, its personalized digital sleep improvement program, is now available to PBM clients via the service. The program is based on Cognitive Behavioral Therapy (CBT), which helps individuals make the changes necessary to improve their sleep problems.
Moving forward, CVS Health will be actively working to identify and onboard additional vendors to participate in the new service. This may include solutions such as smoking cessation and substance abuse support, care management solutions, medication optimization and adherence, and tools that help members navigate their benefits.
For more information about CVS Health’s efforts to improve access to quality care across the nation, visit our Quality & Access information center and the CVS Health Impact Dashboard. To stay informed about the latest updates and innovations from CVS Health, register for content alerts and our bi-weekly health care newsletter.