CVS and Aetna merger worth $69 billion is held up in New York by officials questioning the deal’s impact on drug costs and premiums. In a meeting with the Department of Financial Services held on October 18, Superintendent Maria T. Vullo mentioned that guardrails need to be in place to ensure that the promised synergies of a combined company lead to lower premiums and cost savings to New York consumers.
Vullo also said that she was concerned that Aetna may create incentives to use CVS services and this would lead to increase in drug price and, as a result increase in premium.
The New York Post said complaints by independent pharmacists about being hit by CVS with wild, unpredictable fluctuations in reimbursement rates for prescription drugs, has been noticed by New York regulators.
This merger needs only New York State’s approval to complete the deal. The New York Department of Financial Services is taking written comment for five days, after which the department will make a decision.
Healthcare has witnessed technological innovations like telehealth software and provider engagement software. Along with these changes, healthcare companies are now collaborating to provide better services to patients but, face some obstacles.