CVS Caremark jumps on Allscripts MyWay for e-prescribing - January 8, 2010
Orlando Florida -- CVS Caremark Corp. said Thursday it will partner with electronic health records maker Allscripts-Misys Healthcare Solutions Inc., and begin switching clients to Allscripts' e-prescribing tool.
CVS said it will stop offering its iScribe prescription tool and transition thousands of clients to products made by Allscripts. E-prescribing allows physicians to send prescriptions directly to a pharmacy by e-mail, and gives the physician information about potential drug interactions and the patient's health insurance. They can also use it to follow up with patients about unfilled prescriptions.
CVS, of Woonsocket, R.I., said current iScribe users will have the opportunity to switch to a full electronic health record system made by Allscripts. That would allow the customers to qualify for up to $64,000 in federal economic stimulus funding starting in 2011.
Financial terms of the deal were not disclosed.
CVS runs more than 7,000 drugstores, along with the Caremark pharmacy benefits management business, which handles drug benefits for plans sponsors and beneficiaries.
In afternoon trading, CVS stock rose 81 cents, or 2.5 percent, to $33.37. Shares of Chicago-based Allscripts lost 10 cents to $19.58.
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