Cerebral CEO David Mou said in an email to employees the company was still seeking an explanation for Aetna’s decision, according to the report.
Cerebral received a federal subpoena May 4 related to possible violations of the Controlled Substances Act, according to the report. The law regulates the prescribing of medications that have potential for abuse and dependence, including stimulants and benzodiazepines. Cerebral confirmed to Becker’s on June 2 that it will initiate layoffs amid the federal probe. Employees will be notified by July 1.
Aetna’s parent company, CVS Health, said last month it would stop filling prescriptions for controlled dangerous substances for Cerebral patients, according to the report.
Cerebral was considered in network with Aetna in 45 states, according to the report.
Aetna did not immediately respond to a request for comment from Forbes.
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.