CVS Forms Pharmacy Care Alliance

CVS Forms Pharmacy Care Alliance

SilverScript Insurance Company, a subsidiary of CVS Caremark, entered collaboration with seven Accountable Care Organizations (ACOs) across the U.S. This alliance is aimed at upgrading pharmacy care for patients who come under the coverage of Medicare Part D.

Following the news, CVS Caremark’s share price nudged up 0.2% to eventually close at $75.72 on Friday.

The beneficiaries of this alliance included those who are being served by the participating ACOs and are registered in a SilverScript Medicare Part D Prescription Drug Plan (PDP).

An ACO is a group of doctors and other health care providers who join forces voluntarily with Medicare — the U.S. government’s health care program for people aged 65 years or more — to provide more coordinated service and care to patients. They also provide chronic disease management at low health care cost.