CVS Health and Aetna have hired a large team of data scientists to use data analytics and artificial intelligence for better care delivery, according to Kyu Rhee, MD, senior vice president at CVS Health and chief medical officer of Aetna.
Leaning into digital transformation keeps CVS Health competitive as more technology companies expand into healthcare.
"When you look at Amazon, Apple, Google, IBM or Microsoft, it's clear that companies understand the value of data and the value of health and healthcare as a value proposition," Dr. Rhee told Jakob Emerson of Becker's Healthcare. "We're proud at CVS Health and Aetna to leverage data scientists as part of our team that delivers care."
Dr. Rhee said the company now has more than 900 data scientists using analytics to improve health outcomes and reduce waste. The strong bench of data science and IT talent will allow CVS Health and Aetna to stay competitive in healthcare as technology companies such as Amazon expand into healthcare. Amazon recently announced plans to buy One Medical, a virtual and in-person primary care platform with direct-to-employer contracts, for $3.9 billion.
"We live in an age now that data scientists are a part of the team, so whether it's Amazon or Apple, I'm proud of the fact that we've recognized it for a long time and have been leveraging data scientists in the work we do already," he said.
CVS Health was reportedly interested in One Medical before Amazon, but the deal didn't materialize. More recently, CVS Health has reportedly considered placing a bid for Signify Health, a $4.7 billion home health and technology company.
"We're always looking for important partners and collaborators," Dr. Rhee said, when asked about the potential deal for Signify Health. "As a payer, we aim to be the partner of choice for all providers and health systems, so as we explore these opportunities, we're excited to see many providers integrating home health and telehealth into their thinking and strategy.
Read the full interview with Dr. Rhee here.