CVS Caremark is the fusion of CVS Corporation and Caremark Rx, Inc. Now CVS Caremark is the top most fully integrated pharmacy health care company in the United States. In this year, Jan 07, CVS Caremark has proclaimed an agreement with Allscripts-Misys Healthcare Solutions. AllscriptsMisys, is a Chicago based leading provider of healthcare interconnectivity, mainly e-prescribing and electronic health records. The agreement of CVS Caremark with Allscripts is primarily expected to assist the nation’s largest nation’s largest pharmacy healthcare provider in supporting its payer and employer clients and driving e-prescribing throughout their networks. “Electronic prescribing is a proven technology that can improve health outcomes by reducing medication errors, leading to lower healthcare costs,” said Glen Tullman, Allscripts’ CEO.
CVS Caremark, based in Woonsocket, R.I., plans to shift the company’s iScribe 3-prescribing tool to the new Allscripts e-prescribing tool. According to the CVS officials, this agreement is supposed to be the first step on the way to a full electronic health record. It aims to provide e-prescribing capabilities and automation of other everyday clinical tasks. Under the agreement, Allscripts will offer providers an upgrade to a full EHR, which officials say would also help them qualify for “meaningful use” of IT and incentive funds allocated under the American Recovery and Reinvestment Act.
The team also states that contributors who meet the criteria for incentive funds in the first stage stand to gain between $44,000 and $64,000 beginning in 2011. The Centers for Medicare and Medicaid Services also provides financial incentives for e-prescribing under the Medicare Improvements for Patients and Providers Act. “This represents a natural progression of our work in the expanding e-prescribing industry,” said Troyen Brennan, MD, executive vice president and CMO of CVS Caremark. They hope that working directly with Allscripts in this next phase will strengthen their ability to deliver scalable e-prescribing solutions, which include valuable information, to meet the clients’ business and clinical goals.