Posts tagged with "CVS Health"

CVS makes $8 billion bet on the return of the house call

September 7, 2022

On Monday, September 5, the drugstore giant, CVS Health, announced that it would acquire Signify Health—which operates a network of doctors who make house calls—for roughly $8 billion in a deal that cements the pharmacy chain’s move away from its retail roots, reports The New York Times.

The deal, if approved by shareholders and regulators, would give CVS, which has nearly 10,000 stores nationwide, a new avenue to reach its customers: at home.

Pharmacies like CVS have been searching for new ways to strengthen ties with their large customer base, particularly as consumers increasingly head online for the everyday items that used to draw them into stores. In Signify, CVS is acquiring a company that offers analytics and technology to help a network of 10,000 doctors provide in-home healthcare to 2.5 million patients across the United States. Signify has a focus on those on Medicare and in underserved communities.

“Their interest is to take over the home,” said Dr. Eric Topol, a professor of molecular medicine at Scripps Research in San Diego, who noted that any care provided to patients at home, rather than in the hospital, lightens the financial load on insurance companies, including Aetna, the insurance business that CVS owns. Signify contracts with insurance providers, including Aetna.

“If you’re looking at it from Aetna’s standpoint, this is a way to save big, big expenditures for their people they cover,” Dr. Topol said.

CVS has been whittling down its store base as it has pushed further into healthcare. The retailer said last year that it would close roughly 900 stores over three years. Its executives told analysts last month that the chain was looking at deals as a way to tack on new health services and ways to deliver those services‚ including in the home.

Karen S. Lynch, the chief executive of CVS, reiterated that strategy in a statement on Monday. “Signify Health will play a critical role in advancing our health care services strategy and gives us a platform to accelerate our growth in value-based care,” she said.

CVS has roughly 40,000 physicians, pharmacists, nurses, and nurse practitioners, as well as 1,100 MinuteClinic locations, which offer care ranging from vaccinations to physicals.

The pharmacy giant will pay Signify $30.50 per share in cash. Signify’s shares jumped almost 7% in after-hours trading; CVS’s stock rose less than 1%. The two companies said they expected the deal to close in the second half of 2023, pending regulatory and shareholder approval.

Research contact: @nytimes

CVS Health and SmileDirectClub team up to provide in-store ‘SmileShops’ nationwide

April 26, 2019

Now, you can give more than “lip service” to dental health—even if you cannot afford expensive orthodontics. CVS Health and SmileDirectClub announced plans on April 25 to expand access to affordable, convenient orthodontic clear aligner therapy through the addition of in-store SmileShops to hundreds of CVS locations nationwide this year.

After a successful pilot, CVS Pharmacy is more than doubling the SmileShops’ current physical footprint and consumer access to this teledentistry innovation. The two companies say that the collaboration reinforces SmileDirectClub’s mission to democratize access to a straighter smile through an affordable and convenient direct-to-consumer platform.

Additionally, by early summer, SmileDirectClub will be added as an in-network health care option for Aetna Dental members.

“CVS Health and SmileDirectClub are aligned in the mission to put the customer at the center of their care by providing easier access to more affordable, more convenient health solutions with proven outcomes,” said Kevin Hourican, president of CVS Pharmacy and executive vice president of CVS Health. “SmileShops at CVS Pharmacy support our dedication to enhancing the customer experience with innovative and convenient health and beauty solutions.”

Today SmileDirectClub SmileShops already are open in 13 CVS Pharmacy locations in eight states, with planned expansion to over a thousand locations over the next several years. SmileDirectClub SmileShops at CVS Pharmacy feature SmileGuides to assist with getting customers started on their new smile journey, including a free 3D digital image of their teeth, teeth whitening kits, and information on the convenience and affordability of clear aligner therapy.

A member of SmileDirectClub’s digital network of 240+ state licensed dentists and orthodontists will approve and manage a custom clear aligner treatment plan. Upon the treating doctor’s and the customer’s approval of the treatment plan, aligners are sent directly to the customer’s door. Through SmileDirectClub’s proprietary teledentistry platform, customers are able to check in with their doctor every 90 days and more frequently if necessary.

SmileDirectClub’s clear aligner therapy works best for people 12 or older with all adult teeth and mild to moderate crowding or spacing issues. Customers can simply walk-in to a SmileDirectClub SmileShop at CVS Pharmacy or they can schedule a visit at https://retail.smiledirectclub.com/cvs.

Research contact: @CVSHealth

U.S. women are unaware they could be ‘heartsick’

February 7, 2018

Results of a national poll, commissioned by CVS Health and released on January 3, reveal that—while 92% of American women are aware of the dangers of heart disease—few acknowledge their personal risk for an attack.

In fact, just 18% of women nationwide consider heart disease to be the greatest health problem facing Americans today and the majority of American women are unaware of their status for factors that could increase their risk of heart disease—including cholesterol levels (57%), blood sugar (58%), Body Mass Index (BMI) (61%), or waist circumference (62%).

The poll was conducted as part of CVS Health’s continued support of the American Heart Association’s Go Red For Women movement, which calls upon women to come together to take action in the fight against heart disease and stroke.

The results of the national survey of 1,141 adult women, conducted on behalf of CVS Health by Morning Consult, also found that heart-related conditions are prevalent among U.S. women, with more than one in three women (37%) saying they have conditions such as high cholesterol, hypertension (high blood pressure), diabetes, history of stroke or a heart defect.

According to the American Heart Association, heart disease is the leading killer among women, causing one in three deaths each year, or one woman every 80 seconds. Fortunately, about 80% of cardiovascular diseases can be prevented through education and lifestyle changes.

According to the survey results, 64% of women say pharmacists play a role in managing heart health, but few (15%) say they have asked their pharmacist questions about heart health or about the heart medications they are taking (36%). Of those who had questions about their heart medications, 70% say they found their pharmacist to be very helpful.

Research contactJoseph.Goode@CVSHealth.com