On May 2, 2014, CVS Caremark Corp. (“Caremark”) announced that its first-quarter profit jumped 18%, which it attributed to its business growth in specialty pharmacy business. Revenue grew 6.3% to $32.69 billion, significantly exceeding estimates of outside analysts. The increase in the profitability of its pharmacy services business comes at a time when Caremark has increased its credentialing requirements for participating pharmacies, making it more difficult for independent pharmacies to gain admission into specialty networks. Other pharmacy benefits providers are likely to recognize Caremark’s revenue growth in specialty pharmacy. Thus, we predict increased difficulty for independent specialty pharmacies getting into limited specialty networks in the coming months and years. Frier Levitt assists pharmacies getting into restricted specialty networks and buying limited distribution drugs.
Frier Levitt can assist pharmacies in meeting various legal standards and can advise clients on compliance with State and Federal laws and regulations. Contact Frier Levitt for help navigating your pharmacy through the evolving regulatory requirements and avoiding potential liability.
