CVS Health's Coram is discontinuing its infusion service offerings for antibiotics, inotropic medications, total parenteral nutrition and other acute home infusion therapies and plans to close or sell 29 regional pharmacies in the coming months, according to an Oct. 11 statement shared with Becker's.
The news comes after CVS separately laid off 2,900 employees at the end of September and is set to lay off 632 employees beginning Dec. 8 as part of a $2 billion cost-cutting initiative to improve the company's financial health. Of the 632 positions affected, 153 are from CVS Health's Woonsocket, R.I. headquarters and surrounding facilities and the rest are people who either work reomtely or live in other states but report to someone in Rhode Island, a spokesperson for CVS confirmed with Becker's.
CVS has a comprehensive transition plan and will work with patients, their providers and health plans to safely transition them to a new provider following the services discontinuation. It also stopped accepting new patient referrals for the treatments Oct. 8.
The company has not shared layoff plans for Coram, but said impacted colleagues would be informed in mid-November, with potential reductions not occurring until late January.
CVS Health also pointed to the challenging environment that infused medications continue to face for the need to evaluate its service offerings.
"This is a separate business decision than what was communicated by CVS Health on Sept. 30 about workforce reductions as a result of enterprise cost-saving strategies," the statement said. "We have let colleagues and customers know there will be impacts and we will support patients to ensure a smooth transition."
Coram will establish three national hub pharmacies in Mendota Heights, Mo., Malvern, Pa., and San Diego to act as Coram's specialty-medication infusion services and enteral nutrition services dispensing hubs.
It will also continue to provide specialty medications and enteral nutrition infusion services.
"We will continue to provide infusion nursing services nationwide, offering our patients who receive specialty medication infusions with excellent care options in an infusion suite or in the comfort of their home," the statement said.
CVS Health said it will continue to review and assess Coram's services to ensure it meets the company and patients' growing needs.