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CVS Health has hired Derica Rice as resident of its pharmacy benefit management (PBM) business CVS Caremark.
In the new role, Rice will have day-to-day leadership and oversight of the PBM business including sales and account management, operations, mail service pharmacy and specialty pharmacy. Rice will also focus on driving PBM strategy, new business development and client relationship management and retention.
Rice has nearly 30 years of experience as a health care executive. He joins CVS Health from Eli Lilly and Company where he most recently served as executive vice president of global services and chief financial officer.
Jon Roberts, chief operating officer of CVS Health, said: "Our PBM clients and the members they serve are asking for innovation, especially around value-based reimbursement models and the role pharmacy can play in improving health outcomes and lowering total health care costs.
"We believe Derica is a great addition to our team, and the experience he brings with regard to innovation in these value-based models in particular will help us continue to serve our clients' needs while also developing and delivering innovative solutions and offerings."
CVS Health, CVS Caremark, PBM, Pharmacy benefit management, Derica Rice, Jon Roberts, US