CVS Health is pushing forward with its new plan to pass off 100 percent of drug rebates to clients to boost transparency and deliver stronger “predictability and pricing simplicity,” Forbes reports.
The pharmacy benefit manager arm of the health giant announced the new model Wednesday.
CVS’ move comes amid an increasing focus on PBMs, with many pointing to them as a key player in the country’s high drug prices.
According to the report, CVS disclosed in August that it generally retained two percent of rebates negotiated with pharmaceutical companies. That accounts for three percent of its total earnings per share this year — about $300 million.