CVS Caremark (NYSE: CVS) announced today that it has been awarded Pharmacy Benefit Management (PBM) and Drug Therapy Management (DTM) accreditation from URAC, a Washington, DC-based health care accrediting organization that establishes quality standards for the health care industry.
"CVS Caremark is pleased to receive these accreditations," said Jon Roberts, President of CVS Caremark's Pharmacy Benefit Management business. "This provides further validation of the company's ongoing focus and commitment to patient care, outstanding customer service and overall quality."
URAC's PBM Accreditation standards cover the organization's contract terms and pricing structures; ensure access to drugs and pharmacies; provide for drug utilization management, formulary management, patient safety and customer service; and create a process for PBM outcomes measurement and quality improvement. URAC's DTM Accreditation standards cover the essential parts of a DTM business, including driving appropriate therapeutic outcomes for consumers and reducing adverse events; promoting rational, clinically appropriate, safe, and cost-effective DTM through evidence-based medicine; encouraging communication about medication use; supporting population specification, consumer identification, and recruitment; and creating a process for DTM outcomes measurement and quality improvement.
"By applying for and receiving URAC accreditation, CVS Caremark has demonstrated a commitment to quality health care," said URAC Chief Operating Officer William Vandervennet. "Quality health care is crucial to our nation's welfare and it is important to have organizations that are willing to measure themselves against national standards."
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