At its June 4 Investor Day, CVS Health executives demonstrated how the company plans to accelerate enterprise growth, simplify how consumers can engage the health care system and position the business for long-term growth.
CVS intends to grow and differentiate the business by driving engagement via personalization, winning in high-growth products and services, and delivering new and innovative benefit designs and reimbursement models, the company said.
Key to the growth strategy is the plan to add more HealthHUB format stores to build on the success of a pilot program conducted in Houston, expanding a retail concept designed to provide consumers with convenient, personalized and integrated access to local health care. CVS has slated new HealthHUB store openings in Houston, Atlanta, Philadelphia/Southern New Jersey and Tampa for this year, and it intends to have 1,500 total HealthHUBs up and running by the end of 2021.
The HealthHUB expansion is one element in a broader CVS strategy of helping consumers by optimizing government programs, developing programs aimed at complex conditions like chronic kidney disease and creating new analytics products.
CVS will deploy data derived from robust, secure technology across the organization to create a holistic view of the patient, the company maintained, which will render insights on how to communicate with the patient most effectively.
At the same time, CVS said it will generate cost savings by modernizing enterprise functions and efficiently integrating operations in the aftermath of its Aetna acquisition. The company reaffirmed its 2019 financial guidance including for consolidated revenues of $251.2 billion to $254.4 billion and adjusted earnings per share of $6.75 to $6.90.
“Our goal is to fundamentally transform the consumer health experience for the millions of Americans we interact with every day, while creating value for our patients, members, partners and shareholders,” said Larry Merlo, CVS president and CEO. “We have combined with Aetna to build a powerful and unique business model that will guide our journey to becoming the most consumer-centric health company.”