The Government’s Direct Impact on CVS Health Policy

The Government’s Direct Impact on CVS Health Policy

In today’s rapidly changing world, government policies often profoundly impact various organizations, including healthcare institutions. One such organization is CVS Health, a prominent player in the healthcare industry. Over the years, CVS Health has encountered several instances where government policies directly affected its policies and operations. This essay will explore a specific example where a government policy had a direct influence on CVS Health’s operations.

One notable instance where a government policy directly affected CVS Health’s policies relates to the expansion of Medicare coverage. Medicare is a federal health insurance program primarily catering to elderly individuals aged 65 and above (Hou et al., 2023). In recent years, the government introduced significant policy changes to expand Medicare coverage, particularly in the context of prescription drugs and pharmacy services; the expansion aimed to improve healthcare access and affordability for Medicare beneficiaries (Romero & Branco Ponomariov, 2023). With the implementation of these policy changes, CVS Health faced the challenge of accommodating the evolving landscape while maintaining its high standards of patient care. One notable policy shift was the introduction of Medicare Part D, which provided prescription drug coverage to Medicare recipients (Murry et al., 2023). This policy change required CVS Health to adapt its pharmacy services to meet the new requirements outlined by Medicare.

To comply with Medicare Part D regulations, CVS Health had to establish systems and procedures for processing Medicare claims, managing drug formularies, and providing medication counseling to Medicare beneficiaries. The organization had to navigate complex reimbursement mechanisms and ensure accurate billing practices to align with Medicare guidelines. Moreover, CVS Health had to collaborate closely with various stakeholders, including government agencies and healthcare providers, to ensure a seamless transition and minimize disruptions in patient care.

Conclusion

Government policies play a pivotal role in shaping the operational landscape of organizations, and CVS Health is no exception. The expansion of Medicare coverage, specifically through the introduction of Medicare Part D, directly impacted CVS Health’s policies and operations. The organization had to adapt to the new regulatory framework, invest in technological advancements, and expand its workforce to cater to the evolving needs of Medicare beneficiaries. As government policies continue to evolve, organizations like CVS Health will need to remain agile and proactive in their approach to ensure optimal patient care and operational efficiency.

 References

Hou, X., Sharma, J., & Zhao, F. (2023). Silver Opportunity: Building Integrated Services for Older Adults around Primary Health Care. In Google Books. World Bank Publications. https://books.google.com/books?hl=en&lr=&id=RRS2EAAAQBAJ&oi=fnd&pg=PT213&dq=Medicare+is+a+federal+health+insurance+program+primarily+catering+to+elderly+individuals+aged+65+and+above&ots=QV7cBZZJSe&sig=LEDbXbO7roXHxJx4qy-Phi0m-tI

Murry, L. T., Witry, M. J., & Urmie, J. (2023). Medicare part D plan-selection experience: Qualitative findings from a national cross-sectional survey. Exploratory Research in Clinical and Social Pharmacy, 100219. https://doi.org/10.1016/j.rcsop.2022.100219

Romero, T., & Branco Ponomariov. (2023). The effect of Medicaid Expansion on Access to Healthcare, Health Behaviors, and Health Outcomes Between Expansion and Non-Expansion States. 102304–102304. https://doi.org/10.1016/j.evalprogplan.2023.102304

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Think of a time when a government policy directly affected policy or policies at your organization. While healthcare examples are preferred, if you do not have experience working in that environment yet, any professional setting can apply.