CVS accused of overbilling feds $600M in scheme similar to one in Ohio [Yahoo! Finance]
CVS Health Corporation (CVS)
Last cvs health corporation earnings: 2/12 06:45 am
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Source: Yahoo! Finance
overbilling a program that covers 9 million federal employees by $615 million over a four-year period. The audit's findings were similar to those found by one commissioned by the Ohio Department of Medicaid in 2018. It found that pharmacy middlemen owned by CVS and UnitedHealth billed the state $224 million more for drugs that it paid pharmacists in 2017 CVS said that the latest audit comes after the Office of Personnel Management changed its rules to bring more transparency to the activities of pharmacy benefit managers, or PBMs. The audit covered transactions from 2018 through 2021. “This is fundamentally a retroactive contract dispute that is occurring after (the Office of Personnel Management) updated its transparency guidelines,” CVS spokeswoman Shelly Bendit said in an email. “Notably, the audit lists no concerns regarding patient safety, drug access, fraud, reimbursements to network pharmacies, or drug rebates. We support clear standards and continue to work within OPM'
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CVS
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CVS
Earnings
- 2/10/26 - Beat
CVS
Sec Filings
- 4/2/26 - Form 4
- 4/2/26 - Form 4
- 4/2/26 - Form 4
- CVS's page on the SEC website