Caremark Pharmacy Services Receives New URAC Pharmacy Benefit Management and Drug Therapy Management Accreditations

WOONSOCKET, R.I., Oct. 3 /PRNewswire/ -- CVS Caremark Corporation (NYSE: CVS) announced today that its pharmacy benefit management division, Caremark Pharmacy Services, has received accreditation from URAC, a Washington, DC-based health care accrediting organization that establishes quality standards for the health care industry. Caremark Pharmacy Services received accreditation in two new categories: Pharmacy Benefit Management and Drug Therapy Management. These are the first voluntary accreditations developed for the industry.

"Our new URAC accreditations demonstrate Caremark's continued commitment to not only meeting our industry's standards, but also to exceeding them," said Howard McLure, President, Caremark Pharmacy Services. "We are pleased that our dedication to patient care, customer service and overall quality has been recognized by URAC, and we look forward to identifying new ways to further our standards of excellence as we move ahead."

"By applying for and receiving Pharmacy Benefit Management and Drug Therapy Management Accreditation, Caremark has demonstrated a commitment to quality health care," said Alan P. Spielman, URAC President and CEO. "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."

The Pharmacy Benefit Management standards address organizational quality, customer service, communications, disclosure of pricing policies, pharmaceutical distribution, drug utilization management, and formulary/pharmacy and therapeutics committee. URAC's Drug Therapy Management Accreditation standards, developed concurrently with the Pharmacy Benefit Management standards, are designed to help organizations drive appropriate therapeutic outcomes for consumers with a clear focus on a patient safety, outcomes measurement and quality improvement.

URAC's accreditation process for both Pharmacy Benefit Management and Drug Therapy Management includes an application and evaluation process, a rigorous on-site evaluation and assessment by a URAC accreditation team, and review and consideration for accreditation by URAC's Accreditation Committee.

URAC, an independent, nonprofit organization, is a leader in promoting health care quality through accreditation and certification programs. URAC's standards keep pace with the rapid changes in the health care system, and provide a mark of distinction for health care organizations to demonstrate their commitment to quality and accountability. Through its broad-based governance structure and an inclusive standards development process, URAC ensures that all stakeholders are represented in setting meaningful standards for the health care industry. For more information, visit www.urac.org.