what should be blamed for Providing quality health care to more people at a lower cost is one of the most talked about and most important topics of our day. Health care is of particular concern for state governors, who must make health care policy decisions that can have far-reaching public health and economic implications. At the National Governors Association s 2017 summer meeting, CVS Health President and CEO Larry Merlo spoke with more than 30 governors to share some of the approaches the company employs to deliver more affordable, accessible and effective care , and explored how these approaches could be applied within states. We know the difficulties you face in delivering more value to patients and taxpayers, said Merlo, who shared three ways pharmacy management can be part of a strategy to improve care and reduce health care costs in states. 1. Lowering Prescription Drug Costs The issue of rising drug prices affects everyone, Merlo explained, and noted the significant impact on the Medicaid program and to state budgets. He cited a recent report by The Menges Group that found greater utilization of pharmacy benefit management tools in Medicaid could save federal and state governments $51 billion over 10 years. Because pharmacy management and medication utilization play such important roles in reducing prescription drug costs and the total cost of care, pharmacy benefit management programs should be included in all state managed care programs, Merlo noted. 2. Better Chronic Disease Management Nearly half of all Americans suffer from one or more chronic conditions , accounting for 86 percent of health care spending. Merlo explained that effective care coordination for these patients, including management of their medications, could reduce spending by about $300 billion per year. Pharmacy care plays a critical role in managing chronic disease in a more affordable and effective way, Merlo said. "Think about it: most patients interact far more frequently with their pharmacist than their physician, and research published in Health Affairs has shown that one-on-one counseling between a patient and a pharmacist results in improved medication adherence and cost savings of $3 for every $1 invested. Merlo also noted the opportunities to significantly reduce spending by encouraging patients to choose alternatives to the emergency room for primary care. Retail health clinics like MinuteClinic cost 80 percent less than the ER, with the same or better outcomes. 3. Combating the Opioid Epidemic According to the Centers for Disease Control and Prevention, the health and social costs related to opioid abuse total $55 billion per year, 1 Merlo pointed out, noting that there are no simple fixes for this complex problem . Merlo shared some of the proactive work CVS Health is doing to combat the opioid epidemic, including education and awareness programs, working with states to expand access to the opioid overdose-reversal drug naloxone , and collaborating with local law enforcement to collect and safely dispose of unwanted medication . Pharmacies can also play an important role in helping ensure appropriate access to pain medications while assuring patient safety, said Merlo. Electronic, or e-prescribing, for controlled substances has proven to be effective in reducing drug diversion and fraud. Most recently in the company s home state of Rhode Island, Merlo shared, CVS Health has partnered with Gov. Gina Raimondo to establish a new Opioid Center of Excellence focused on medication-assisted treatment and outpatient services. While at the National Governors Association meeting, Merlo also had the opportunity to meet with the Office of National Drug Control Policy Acting Director Richard Baum to discuss how CVS Health is helping to achieve the shared goal of opioid abuse prevention. For more information about our efforts to improve pharmacy care, visit our Thought Leadership information center . And to stay informed about the most talked-about topics in health care, register for content alerts and our bi-weekly health care newsletter . 07.17.17 1 Source: CDC, Morbidity and Mortality Weekly Report, July 2015, Vol. 64; $20B for ER and inpatient care related to opioid poisonings (CDC Vital Signs, Vol. 60) Naloxone availability across the United States 4 6 See States Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin CVS Pharmacy patients in 46 states now have access to the opioid overdose-reversal drug, naloxone. Follow our commitment to drug abuse prevention as we increase access to the life-saving opioid overdose reversal drug. Related Articles U.S. Health Care Evolution & Outlook: Merlo at Economic Club of New York CVS Health President & CEO Larry Merlo sits down with Fortune senior correspondent Susie Gharib to discuss important health care topics. Tax Reform: Supporting Growth, Creating Jobs and Investing in Better Health Comprehensive tax reform will strengthen our company s ability to help lower health care costs and improve patient outcomes. Project Health: Helping People on Their Path to Better Health Project Health helps ensure that cost isn t a barrier to services in communities with a large number of uninsured or underinsured Americans. Related Press Releases 05.02.17 CVS Health Lauds New Research Showing that Limiting Pharmaceutical Detailing Can Impact Prescribing Behavior 03.15.17 CVS Health PBM Clients Achieved Lowest Prescription Drug Trend in Four Years, Despite Rising Drug Prices 01.12.17 CVS Health Offers Patients Lowest Cash Price in the Market for Generic Epinephrine Auto-injector to Treat Allergic Reactions 06.16.16 CVS Health CEO Larry Merlo Keynotes at 2016 AHIP Institute and Expo 05.04.16 CVS Health Research Institute Study Shows that Home Infusion Care Improves Patient Outcomes and Quality of Life While Reducing Overall Costs 02.23.16 CVS Health Reports Dramatic Drop in Prescription Drug Trend to 5 Percent, Despite Rising Drug Prices anybody
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