CVS Health CEO Karen Lynch discussed the company's expansion at a May 4 earnings call, revealing it is continuing to push into primary care and improve its digital offerings.
Here are six key takeaways from the call:
- The pharmacy is advancing its primacy care focus, stating that in the first quarter of 2022 it saw 1.5 million in-person or virtual visits to its community health clinics, up 35 percent from the same time in 2021.
- Ms. Lynch said the pharmacy plans to expand its virtual services in the next 30 days. In 2021 it supported 10 million virtual visits for mental health.
- It has closed 100 stores of the planned 300 for this year, and plans to close a total of 900 by 2025.
- It is planning an expansion into the home care space by preparing for a post-acute transitions pilot that will launch in 2023 for certain Aetna members.
- It is also investing in its CVS Health digital offerings by improving the website and services, including its health dashboard which contains a patient's health records in one place.
- Ms. Lynch also mentioned the automation of pharmacy technology that will complete prescriptions for pharmacists, pushing the pharmacists into a more patient-focussed role.