CVS Health Expands Point Solutions Management with New Health and Well-being Benefits and Comprehensive Evaluation Process
Five new point solution vendors added following rigorous evaluation to ensure high clinical, security and business standards
Simplified contracting, lowest price and performance monitoring helps PBM clients maximize benefits and minimize spend
WOONSOCKET, R.I., March 11, 2020 - CVS Health (NYSE: CVS) today added five new health and well-being point solution vendors to its Point Solutions Management service following a comprehensive clinical, security and business evaluation process. Point Solutions Management is a full-service offering that enables CVS Caremark pharmacy benefit management (PBM) clients to simplify contracting, secure lowest price and monitor ongoing performance of third-party health care point solutions, which can help maximize their benefits program while minimizing associated spend. Newly added point solutions address health care costs and support clinical outcomes in key areas, including chronic condition management, musculoskeletal health, stress reduction and mental health management, and caregiver support.
“Plan sponsors increasingly see the value in health care point solutions for improving workforce productivity, satisfaction and overall well-being, however with so many options on the market, it can be challenging to identify trusted solutions that best meet the needs of their members,” said Sree Chaguturu, M.D., Chief Medical Officer, CVS Caremark, the pharmacy benefit management business of CVS Health. “We have analyzed pharmacy and medical claims to identify where these benefits can make a difference and employ a rigorous and transparent evaluation process to assure that any vendor included in Point Solutions Management meets high standards for safety, quality and user experience at the vendor’s lowest price in the marketplace.”
More Solutions to Meet Client and Member Needs
Five new solutions are now available through Point Solutions Management, in addition to Sleepio, a personalized digital sleep program from Big Health, which was the first participating point solution when the service launched as Vendor Benefits Management in 2019. New point solutions available to CVS Caremark clients through the service include:
- Hello Heart helps members understand and improve their heart health. It offers an FDA-approved blood pressure monitor coupled with an app that tracks blood pressure readings, weight and physical activity, alerts for out-of-range hypertension, and has patient-enabled medication adherence reminders.
- Hinge Health, a coach-led digital program for members with musculoskeletal conditions such as chronic back or joint pain. Hinge Health combines wearable sensor-guided exercise therapy with behavioral change through 1-on-1 health coaching and education to reduce chronic pain, opioid use, and surgeries.
- Livongo (Nasdaq: LVGO), an Applied Health Signals company, offers an integrated platform and includes diabetes, hypertension, weight management, and diabetes prevention solutions. Livongo provides support through personalized coaching and connected devices including weight scales, blood glucose meters, and blood pressure monitors to deliver appropriate interventions and help improve health outcomes.
- Torchlight, a caregiver support solution that guides families through the complexities of educational, financial, social, health, and legal demands related to caring for a loved one, no matter the age, stage, or concern. With a digital platform and team of expert advisors, Torchlight helps reduce stress and enhance caregiving outcomes
- Whil, a digital training platform for mindfulness, stress resilience, mental well-being and performance. It addresses 12 different aspects of wellbeing and performance through
5-minute daily sessions and 250+ mini-courses. Users have access to 2,000+ video and audio sessions on demand, reinforced with ongoing tips, exercises and articles to improve employee health and happiness.
Rigorous Vetting, Evaluation and Ongoing Performance Management
The CVS Health vendor evaluation and selection process starts with identifying the specific areas of health and well-being that meet the clinical and cost management priorities of CVS Caremark clients and where vendor point solutions are most likely to have a positive impact. Each selected solution then undergoes a rigorous clinical, data security, and business evaluation, which includes testing of the end-to-end consumer experience by a team of CVS Health clinicians. Once solutions are adopted by payors, the Point Solutions Management service also provides member eligibility and real-time billing verification and ongoing performance monitoring.
“As a large employer with a diverse workforce, health care point solutions are an essential component of our overall benefits package, but it can be time-consuming and costly to identify, evaluate and contract individually with each vendor,” said Kristen Brown, Director of Benefits, JetBlue. “CVS Health’s Point Solutions Management helps make the process easier and more efficient.” CVS Caremark client JetBlue adopted Point Solutions Management in 2019 to help streamline contracting with point solution vendors and supplement their medical and pharmacy benefits.
CVS Health will continue to expand Point Solutions Management to meet growing client and member needs, including in weight loss, women’s health, metabolic health, mental health and other categories that help to address social determinants of health.
For plan sponsors interested in learning more about Point Solutions Management, please visit: https://payorsolutions.cvshealth.com/point-solutions-management
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