CVS names new pharmacy providers, client product chiefs

CVS names new pharmacy providers, client product chiefs

CVS names new pharmacy services, consumer product chiefs
© Reuters. FILE PHOTO: CVS Well being brand is seen displayed on this illustration taken, Could 3, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) -CVS Well being Corp stated on Monday that David Joyner would return to move the U.S. diversified healthcare firm’s pharmacy providers and tapped former Cigna Corp (NYSE:) government Amy Bricker as its chief product officer for client enterprise.

Joyner will develop into the chief of the pharmacy providers section, which additionally contains the corporate’s pharmacy advantages administration enterprise Caremark, efficient Jan. 30. He’ll succeed Alan Lotvin, who plans to retire in April, CVS stated.

Bricker will begin within the newly created position in February after serving as president of Categorical Scripts (NASDAQ:), rival Cigna Corp’s pharmacy advantages unit.

The appointments comply with some setbacks CVS confronted in latest months in its companies. Its largest medical insurance plan for Medicare recipients acquired a decrease efficiency ranking from the U.S. Facilities for Medicare and Medicaid Providers in October. The decrease ranking may have an effect on funds from the federal government for 2024, the corporate stated.

In the identical month, Centene (NYSE:) Corp changed Caremark with Categorical Scripts to handle the insurer’s annual pharmacy spend of round $40 billion.

The lack of the account, together with the rankings decline, will doubtless scale back 2024 income by $2 billion, CVS stated in November.

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