CVS Health Appoints Sree Chaguturu, M.D., Chief Medical Officer of CVS Caremark

Top of the article

CVS Health has named Sree Chaguturu, M.D., as Chief Medical Officer for CVS Caremark, our pharmacy benefits management business (PBM) for the company. He will report to Troyen A. Brennan, M.D., M.P.H., Executive Vice President and Chief Medical Officer of CVS Health. Dr. Chaguturu will support the PBM and specialty pharmacy areas with a focus on enhancing the quality of services provided to millions of its members and patients, while also contributing to the overall mission of CVS Health.

Dr. Chaguturu will be joining CVS Health in early September from Partners HealthCare, where he was previously Chief Population Health Officer, and a member of the leadership team focused on ensuring the company met its mission of improving quality and reducing costs for the populations it serves. He was responsible for the oversight and implementation of Partners HealthCare’s Accountable Care Organization, which manages the health of more than a half-million patients. Earlier in his career, Dr. Chaguturu was a health care consultant at McKinsey Hospital Institute.

Dr. Chaguturu is a practicing internal medicine physician at Massachusetts General Hospital and a clinical instructor at Harvard Medical School. He received his internal medicine and primary care training at Massachusetts General Hospital and earned his undergraduate and medical degrees from Brown University.

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
0

CVS Health To Host 2019 Investor Day For The Investment Community

CVS Health To Host 2019 Investor Day For The Investment Community
Top of the article

WOONSOCKET, R.I., May 21, 2019 /PRNewswire/ -- CVS Health Corporation (NYSE: CVS) will hold its Investor Day in New York City on Tuesday, June 4, 2019, beginning at 8:00 a.m. (ET). Senior members of the CVS Health leadership team will provide an in-depth review of the company's strategies to drive long-term growth and enhance shareholder value. The company will also discuss its near-term and long-term financial outlook.

An audio and video webcast of the event will be broadcast simultaneously on the Investor Relations portion of the CVS Health website for all interested parties, and will be archived and available for a one-year period. Presentations and accompanying material will also be available on the website shortly before the event begins. To access the webcast or an archive of the event, visit http://investors.cvshealth.com.

About CVS Health

CVS Health is the nation's premier health innovation company helping people on their path to better health. Whether in one of its pharmacies or through its health services and plans, CVS Health is pioneering a bold new approach to total health by making quality care more affordable, accessible, simple and seamless. CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it. The Company has more than 9,900 retail locations, approximately 1,100 walk-in medical clinics, a leading pharmacy benefits manager with approximately 92 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan. CVS Health also serves an estimated 38 million people through traditional, voluntary and consumer-directed health insurance products and related services, including rapidly expanding Medicare Advantage offerings. This innovative health care model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

SOURCE CVS Health Corporation

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
0

CVS Health Kicks Off Free Health Screenings in Sacramento as Part of Its Commitment to Building Healthier Communities

Top of the article

32 Project Health events will help address access, affordability and quality care

Company also presented $75,000 grant to Sacramento Native American Health Center to expand opioid treatment options locally

SACRAMENTO, Calif., May 2, 2019 /PRNewswire/ -- As part of a continuing commitment to building healthier communities, CVS Health (NYSE: CVS) celebrated today the expansion of its annual Project Health free health screening campaign to Sacramento with a fun-filled community event at CVS Pharmacy, 1587 W El Camino Avenue, in Sacramento. Today's event is one of 32 free health screenings that will take place in the Sacramento area between now and June 30.

The event also included the presentation of a $75,000 grant from the CVS Health Foundation to the Sacramento Native American Health Center to help expand opioid treatment options locally. The funds will be used to help engage more patients with internal treatment options like medication-assisted treatment, cognitive behavioral therapy (CBT), trauma-focused CBT and integrative or holistic therapies, which have shown to provide greater success in abstinence from substances.

"CVS Health is committed to expanding access to quality and affordable care, both through our retail footprint and with national and local non-profits and organizations who share our belief that better health starts at the community level," said Garth Graham, vice president of Community Health and Impact, CVS Health. "We are thrilled to be here today in Sacramento celebrating the expansion of Project Health, and look forward to providing local residents with free health screenings over the next two months, as part of our commitment to building healthier communities."

Project Health events, which will be held on Thursday Sunday in rotating stores across Sacramento through June, are open to everyone and do not require an appointment. Project Health offers an array of free comprehensive health assessment screenings, including blood pressure, Body Mass Index (BMI), glucose and total cholesterol screenings, which can help detect risk for chronic conditions like diabetes, hypertension, and heart disease.

The expansion of Project Health will also do more to screen for social determinants of health that affect personal health and communities. About 60 percent of life expectancy is driven by behavioral, social and environmental factors including family, education, housing, and access to fresh food. Project Health events have a proven track record of improving patient engagement and ultimately, healthier outcomes.

Once screened, patients have access to on-site consultations with bilingual nurse practitioners or physician assistants who will analyze results and refer patients who require additional medical care and follow up to no-cost or low-cost medical facilities nearby or to their primary care physician.

Sacramento is one of five cities in California where a total of 256 Project Health screenings will take place this year through December. Events are occurring year-round in Los Angeles, and took place earlier this year in Fresno and San Francisco. Project Health will begin in the San Diego area in July.

Since it was established in 2006, Project Health has delivered more than $127 million in free health care services to nearly 1.7 million people in multicultural communities with a large number of uninsured or underinsured Americans.

For a full calendar of Project Health events in Sacramento, visit www.cvs.com/projecthealth (in Spanish: www.cvs.com/proyectosalud).

About CVS Health


CVS Health is the nation's premier health innovation company helping people on their path to better health. Whether in one of its pharmacies or through its health services and plans, CVS Health is pioneering a bold new approach to total health by making quality care more affordable, accessible, simple and seamless. CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it. The Company has more than 9,900 retail locations, approximately 1,100 walk-in medical clinics, a leading pharmacy benefits manager with approximately 92 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan. CVS Health also serves an estimated 38 million people through traditional, voluntary and consumer-directed health insurance products and related services, including a rapidly expanding Medicare Advantage offering. This innovative health care model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

Media Contact

Mary Gattuso
Mary.Gattuso@cvshealth.com
401-290-8078

SOURCE CVS Health

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
0

CVS Health Encourages Americans to Remove Expired, Unwanted or Unused Medications From Their Homes on National Prescription Drug Take-Back Day on April 27

Top of the article

Company supports nearly 2,000 community and CVS Pharmacy locations that provide convenient disposal options for medicine cabinet cleanout all year long

Safe medication disposal part of the company's focus on opioid misuse prevention

WOONSOCKET, R.I., April 24, 2019 /PRNewswire/ -- As part of its commitment to helping build healthier communities, CVS Health (NYSE: CVS) is reminding Americans to clean out their medicine cabinets and safely dispose of unused medication on National Prescription Drug Take-Back Day, this Saturday, April 27.

According to the National Survey on Drug Use and Health, in-home medicine cabinets are often a source of diverted medications, and CVS Pharmacy recommends that patients dispose unused medicines promptly, safely, and securely.

On April 27, select CVS Pharmacy locations in 27 states will join other community sites around the country to host law enforcement take-back events, providing opportunities to safely dispose of unwanted medication. National Prescription Drug Take-Back Day is hosted biannually by the U.S. Drug Enforcement Administration (DEA) to help dispose of unused medications and reduce opportunities for their misuse.

To help make year-round disposal options more accessible, CVS Pharmacy has installed safe medication disposal units in more than 1,000 CVS Pharmacy locations across the country and has donated 950 additional units to community locations such as police departments. Together, these units have collected more than 324 metric tons, or 715,000 pounds, of unwanted medication that might otherwise have been diverted, misused or ended up in our water supplies.

CVS Pharmacy plans to roll-out additional safe medication disposal units across the country by the end of 2019, as part of a commitment announced at the end of last year to help provide more disposal options in our communities. The company is also partnering with Google Maps to make it easier for consumers to find year-round medication disposal options.

"When patients leave unused medications, especially opioids, in a medicine cabinet, there is a risk that those medications might be misused or diverted, which is why we have worked to help increase access to and awareness of safe medication disposal options in the communities we serve," said Tom Davis, R.Ph., Vice President of Professional Services for CVS Pharmacy. "Providing options for the proper disposal of unused medications is just one of the ways that CVS Health is working to help combat opioid misuse, as part of our commitment to helping build healthier communities across the country."

CVS Health's innovative community education program, Pharmacists Teach, connects CVS pharmacists to local communities to talk with students and parents about the dangers of misusing prescription drugs, using a curriculum developed with the Partnership for Drug-Free Kids. The company has reached nearly 475,000 students and parents nationwide through the program.

The company has also increased access to the opioid overdose drug, naloxone, in 48 states and Washington D.C., to allow patients to obtain the medication without an individual prescription. Following the Surgeon General's Advisory on Naloxone and Opioid Overdose in April 2018, CVS Pharmacy expanded its efforts to educate patients about naloxone. Today, all CVS Pharmacy locations have in-store signage to inform patients about the availability and accessibility of the potentially life-saving drug.

CVS Caremark also helps its pharmacy benefit management clients reduce opioid utilization through coverage limits aligned with Centers for Disease Control and Prevention (CDC) Guideline for Prescribing Opioids for Chronic Pain. To-date, for clients adopting this utilization management criteria, the number of prescriptions covered for more than a 7-day supply decreased by 71.9%. Among those clients, the number of prescriptions covered for a 7-day supply or less is now 94.3%. CVS Pharmacy also provides patient counseling consistent with the CDC Guideline for patients new to opioid therapy.

Aetna, a CVS Health business unit, is also making progress in its five-year plan to help fight opioid addiction through prevention, intervention and patient support programming. In the first year of its strategy, Aetna has seen an approximately 60 percent increase in the rate of treatment with non-opioid interventions in members with chronic pain, and the rate of opioid prescriptions written for seven or more days after an acute procedure decreased about 50 percent among Aetna members.

"Our company can play an important role in helping ensure appropriate access to pain medications while educating patients on their safe use and disposal," added Davis. "We remain committed to prioritizing prevention and education among our patients and their families as part of our purpose of helping people on their path to better health."

Visit here for more information on CVS Health's opioid misuse prevention programs.

About CVS Health

CVS Health is the nation's premier health innovation company helping people on their path to better health. Whether in one of its pharmacies or through its health services and plans, CVS Health is pioneering a bold new approach to total health by making quality care more affordable, accessible, simple and seamless. CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it. The Company has more than 9,900 retail locations, approximately 1,100 walk-in medical clinics, a leading pharmacy benefits manager with approximately 92 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan. CVS Health also serves an estimated 38 million people through traditional, voluntary and consumer-directed health insurance products and related services, including rapidly expanding Medicare Advantage offerings. This innovative health care model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

Media Contacts:

Joe Goode, (401) 770-9820
Joseph.Goode@cvshealth.com

Mary Gattuso, (401) 770-9811
Mary.Gattuso@cvshealth.com

SOURCE CVS Health

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
0

CVS Health Corporation To Hold First Quarter 2019 Conference Call

Top of the article

WOONSOCKET, R.I., April 17, 2019 /PRNewswire/ -- CVS Health Corporation (NYSE: CVS) will be holding a conference call on Wednesday, May 1, 2019, at 8:30 a.m. (ET) with analysts and investors to discuss its first quarter financial results.

An audio webcast of the conference call will be broadcast simultaneously through the Investor Relations portion of the CVS Health website for all interested parties. To access the webcast, visit http://investors.cvshealth.com. This webcast will be archived and available on the website for a one-year period following the conference call.

About CVS Health

CVS Health is the nation's premier health innovation company helping people on their path to better health. Whether in one of its pharmacies or through its health services and plans, CVS Health is pioneering a bold new approach to total health by making quality care more affordable, accessible, simple and seamless. CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it. The Company has more than 9,900 retail locations, approximately 1,100 walk-in medical clinics, a leading pharmacy benefits manager with approximately 92 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan. CVS Health also serves an estimated 38 million people through traditional, voluntary and consumer-directed health insurance products and related services, including a rapidly expanding Medicare Advantage offering. This innovative health care model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

SOURCE CVS Health Corporation

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
0

CVS Health Launches 12th Annual CSR Report and Evolved Platform, "Better Health, Better Community, Better World"

Top of the article

Evolved strategy emphasizes impact on community health and wellness following its acquisition of Aetna

WOONSOCKET, R.I., April 4, 2019 /PRNewswire/ -- CVS Health (NYSE: CVS) today unveiled its 12th annual corporate social responsibility (CSR) report featuring its evolved platform, Better Health, Better Community, Better World. The company's new social purpose business strategy is designed to be more inclusive of the company's commitment to addressing the complexities of today's health care system and the role it plays in addressing the most pressing public health challenges of the day, nationally and in our communities.

"2018 was a historic year for our company, as CVS Health combined with Aetna, giving us an opportunity to help fundamentally transform the way health care is delivered," said Larry J. Merlo, President and Chief Executive Officer for CVS Health. "Our new socially-responsible business strategy ensures we put our capabilities and resources to work in tangible ways that make a difference in our local communities and in people's lives."

The Better Health, Better Community, Better World platform aims to deploy the assets, scale and expertise of our business to focus on three priority areas:

  • Building Healthier Communities: Making community health and wellness central to CVS Health's charge for a better world.
  • Leading and Inspiring Growth: Creating economic opportunities and value for employees, customers, suppliers and investors.
  • Protecting Our Planet: Ensuring environmental sustainability is embedded in our approach to business operations and product development.

This year's report provides an update on CVS Health's enterprise commitment to tackling opioid misuse and abuse, including increasing the number of safe medication disposal sites by adding 750 units in CVS Pharmacy locations and expanding the Pharmacists Teach Prescription for Parents program to 26 new states.

The report also includes the company's annual Communication on Progress to the United Nations Global Compact (UNGC). CVS Health became the first U.S. pharmacy chain to join UNGC in 2018, confirming the company's commitment to implementing the Compact's ten principles with respect to human rights, labor, the environment and anti-corruption; engaging in partnerships to advance the broader goals of the United Nations; and taking actions in support of the Sustainable Development Goals.

In an effort to reduce the effect of climate change, CVS Health set new greenhouse gas (GHG) reduction targets in 2018 to reduce the absolute scope 1 and 2 GHG emissions by 36 percent by 2030, and to commit that 70 percent of its suppliers by emissions will set science-based emissions reduction targets on their scope 1 and 2 emissions by 2023. The company also developed a new CSR performance target for its fleet to reduce 2.5 million empty miles in the next five years.

"We believe our greatest opportunities ahead will be a result of our ability to meaningfully impact the health of local communities, bringing together the power of our business and strategic community investment," said Eileen Howard Boone, Senior Vice President, Corporate Social Responsibility and Philanthropy. "I am particularly proud to present this year's progress report because 2018 marks the biggest move we have ever made as a company in advancing our social business purpose as we welcomed Aetna to our enterprise."

Other notable accomplishments in 2018 include:

Building Healthier Communities

  • Delivered $5.3M in free health care services through Project Health
  • Provided more than $4 million in grants from the company and the CVS Health Foundation to support youth smoking and e-cigarette prevention, as part of its commitment to helping deliver the first tobacco-free generation
  • Introduced MinuteClinic Virtual Care to provide quality, convenient, and affordable care via a mobile app or desktop computer
  • Committed to transparency for all beauty imagery by the end of 2020, celebrating a more authentic representation of beauty

Leading and Inspiring Growth

  • Created opportunities for nearly 85,000 new colleagues through workforce development programs and other recruiting efforts
  • Provided opportunities for 2,800+ youth to participate in myCVS Journey Pathways to Health Care Careers
  • Hired 3,200+ colleagues through our U.S. Department of Labor Registered Apprenticeship program for pharmacy technicians
  • Drove a total economic impact of $5.8B and supported 38,000+ jobs through our diverse supplier program
  • Enhanced our Board of Directors to include deep insurance company oversight experience by adding four new directors from Aetna

Protecting Our Planet

  • Audited 500+ printers that produce packaging for our store brands portfolio to understand their sustainability capabilities
  • Removed oxybenzone and octinoxate from our store brand sun screens with SPF 50 and lower
  • Recognized among the top 3 percent of 5,000 companies as a CDP Supplier Engagement Leader
  • Retrofitted 1,740 retail locations with interior LED lighting, saving $7.5 million in annual energy costs

CVS Health's 2018 CSR Report was developed in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Standards, a global framework widely used by organizations to report on CSR and sustainability performance. The company completed a materiality assessment in 2017 and focused its reporting on topics that reflect its most significant economic, environmental, and social impacts, or that substantively influence the assessments and decisions of stakeholders.

The report is available online at cvshealth.com/social-responsibility.

About CVS Health

CVS Health is the nation's premier health innovation company helping people on their path to better health. Whether in one of its pharmacies or through its health services and plans, CVS Health is pioneering a bold new approach to total health by making quality care more affordable, accessible, simple and seamless. CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it. The Company has more than 9,900 retail locations, approximately 1,100 walk-in medical clinics, a leading pharmacy benefits manager with approximately 92 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan. CVS Health also serves an estimated 38 million people through traditional, voluntary and consumer-directed health insurance products and related services, including rapidly expanding Medicare Advantage offerings. This innovative health care model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

Media Contact:

Mary Gattuso
401-770-9811
Mary.Gattuso@CVSHealth.com

SOURCE CVS Health

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
0

CVS Health Expanding Free Wellness Screenings in Houston

Top of the article

Project Health events to be held now through April 28 in select CVS Pharmacy locations

Campaign has delivered $30 million worth of free health services to underserved communities in Texas locally since 2006

HOUSTON, April 2, 2019 /PRNewswire/ -- As part of its commitment to building healthier communities across the country, CVS Health (NYSE: CVS) today announced it is adding more free health and wellness screenings at select CVS Pharmacy locations across the greater Houston area through April 28, as part of its annual Project Health campaign.

CVS Health launched Project Health in the Houston suburb of Spring, Texas at the company's new HealthHUB location, a store concept which combines the best of today's CVS Pharmacy with the future of accessible, low-cost health services and more trusted advice.

"Better health starts at the community level, and Project Health delivers affordable and convenient access to free services that help identify health concerns and risk factors for our neighbors who may not have otherwise sought preventative care," said Troyen A. Brennan, M.D., M.P.H., Chief Medical Officer, CVS Health. "Chronic conditions, which can often be life-threatening, can be treated very effectively when identified early at screenings such as Project Health, and can help to improve a patient's overall health and well-being."

Project Health, which provides access to care in multicultural communities with a large number of uninsured or underinsured Americans, offers an array of free comprehensive health assessment screenings, including blood pressure, Body Mass Index (BMI), glucose and total cholesterol screenings, which can help detect risk for chronic conditions like diabetes, hypertension, and heart disease.

The expansion of Project Health will also do more to screen for social determinants of health that affect personal health and communities. About 60 percent of life expectancy is driven by behavioral, social and environmental factors including family, education, housing, and access to fresh food. Project Health events have a proven track record of improving patient engagement and ultimately, healthier outcomes.

Since it was founded in 2006, Project Health has delivered more than $127 million in free health care services to nearly 1.7 million Americans, with more than $27 million in support of Texas communities. More than 87 percent of patients who attend Project Health events report following-up with their primary care physician and were significantly more likely to proactively discuss their blood pressure, BMI and blood sugar levels, according to the company's own metrics. Additionally, 95 percent of participants said they would recommend Project Health to a family member or friend.

A total of 31 events will take place on Thursday Sunday in rotating stores across Houston through April 28, and are open to everyone and do not require an appointment. For a full calendar of events, please visit www.cvs.com/projecthealth.

"As a front door to health care, we are proud to offer Project Health in more CVS Pharmacy locations across Houston this spring," said Jeffrey Schmidt, Divisional Vice President, CVS Health. "The free health screenings are a simple way for people to access much-needed health services in their community, and are just one more way we are delivering on our company's purpose of helping people on their path to better health."

Once screened, patients have access to on-site consultations with bilingual nurse practitioners or physician assistants who will analyze results and refer patients who require additional medical care and follow up to no-cost or low-cost medical facilities nearby or to their primary care physician.

About CVS Health

CVS Health is the nation's premier health innovation company helping people on their path to better health. Whether in one of its pharmacies or through its health services and plans, CVS Health is pioneering a bold new approach to total health by making quality care more affordable, accessible, simple and seamless. CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it. The Company has more than 9,800 retail locations, approximately 1,100 walk-in medical clinics, a leading pharmacy benefits manager with approximately 93 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan. CVS Health also serves an estimated 39 million people through traditional, voluntary and consumer-directed health insurance products and related services, including a rapidly expanding Medicare Advantage offering. This innovative health care model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

Media Contacts

Joe Goode
Joseph.Goode@CVSHealth.com
401-770-9820

Mary Gattuso
Mary.Gattuso@CVSHealth.com
401-770-9811

SOURCE CVS Health

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
0

CVS Health Research Institute Study Shows that Medication Reconciliation Programs Can Reduce Hospital Readmissions

Top of the article

WOONSOCKET, R.I., July 7, 2016 /PRNewswire/ -- A new study from the CVS Health Research Institute found that medication reconciliation programs, in which pharmacists review patients' medication  regimens and provide adherence counseling during the patient's transition from hospital to home, reduced risk of hospital readmission by 50 percent and helped avoid unnecessary health care costs. The research, published today in the July issue of Health Affairs, is the first to evaluate the impact of an insurer-supported medication reconciliation program on clinical outcomes and health care spending.

"After leaving the hospital people are especially vulnerable and are often dealing with complex and changing care regimens, which can result in high rates of medication non-adherence and increased risk for costly and unnecessary readmissions," said Troyen A. Brennan, M.D., executive vice president and Chief Medical Officer, CVS Health. "In fact, adverse drug events, often attributable to medication non-adherence, are associated with the majority of hospital readmissions. This research shows that programs that provide patients with additional support from a pharmacist can help improve health outcomes and save payers and patients money."

The study analyzed hospital readmissions of more than 260 members of a national health plan who were hospitalized over a five-month period. Researchers compared readmission rates for patients enrolled in a medication reconciliation program upon hospital discharge to a control group of members who received no additional support following their initial hospital stay. Those enrolled in the program received an initial in-home or telephonic consultation based on their readmission risk and were also offered ongoing telephonic support for the first 30 days following discharge. During the initial consultations, pharmacists compared members' pre- and post- hospitalization medication regimens; identified discrepancies, redundancies and safety concerns; and provided education and support regarding medication use and adherence. The researchers found that risk of hospital readmission at 30 days was reduced by 50 percent, reducing overall risk of hospital readmission from 22 percent to 11 percent for those in the medication reconciliation program. Additionally, the health plan saved $2 for every $1 spent on the program, resulting in a total savings of more than $1300 per member.

"The research found that the positive effects of the pharmacist consultation on reducing readmission rates and costs were similar whether the consultation was conducted via an in-home visit from a pharmacist or over the telephone when the intensity of the intervention was tailored to members' risk," added Dr. Brennan. "These results demonstrate that there is an opportunity for payers to consider adopting programs that provide pharmacist support and counseling by phone as a cost-efficient way to help improve medication adherence and health outcomes for their vulnerable populations."

An estimated one in seven patients discharged from a hospital is readmitted within 30 days, and readmissions are associated with more than $41 billion in additional health care costs per year. In addition, evidence suggests that approximately 66 percent of hospital readmissions are the result of adverse health events related to medication non-adherence. Historically, health insurers have had little control over direct efforts to reduce hospital readmission rates for their members. When available, these kinds of programs are largely run by hospitals and outpatient providers and their impact has not been broadly evaluated.

The CVS Health Research Institute is focused on contributing to the body of scientific knowledge related to pharmacy and health care through research collaborations with external academic institutions, participation in federally-funded research, analysis and sharing of CVS Health data sources and coordination of pilot programs and initiatives. CVS Health Research Institute findings support a continuous quality improvement environment, which encourages product innovation and development to benefit CVS Health patients, clients and their members.

About CVS Health

CVS Health (NYSE: CVS) is a pharmacy innovation company helping people on their path to better health. Through its more than 9,600 retail pharmacies, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with nearly 80 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, and expanding specialty pharmacy services, the Company enables people, businesses and communities to manage health in more affordable and effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

Media Contacts:

Christine Cramer
CVS Health
(401) 770-3317
christine.cramer@cvshealth.com

Christina Beckerman
CVS Health
(401) 770-8868
christina.beckerman@cvshealth.com

SOURCE CVS Health

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
0

CVS Health Provides Update to Board and Management Roles Upon Closing of Aetna Acquisition

Top of the article

Will expand Board to include three additional Aetna Directors with deep insurance company oversight experience

Eva Boratto to become CFO; Shawn Guertin to remain with company for transition period to play key role in financial integration

Woonsocket, RI (October 10, 2018) – CVS Health (NYSE: CVS) today announced that three additional Aetna directors with deep insurance company oversight experience -- Edward J. Ludwig, Fernando Aguirre, and Roger N. Farah -- will join the CVS Health Board following the completion of its acquisition of Aetna.  The appointment of these three Aetna directors, together with the previously announced addition of Mark T. Bertolini, Aetna’s current Chairman and Chief Executive Officer, will bring the total number of CVS Health Board members to 16.  

CVS Health also announced today that following the completion of the transaction, Eva C. Boratto, currently CVS Health’s Executive Vice President – Controller and Chief Accounting Officer, will become Executive Vice President and Chief Financial Officer of CVS Health.  Shawn M. Guertin has decided to step away for personal and family reasons, but will remain with CVS Health until June 2019 to help the combined company with integration and financial planning strategy.  As previously disclosed, Aetna will be managed as a distinct operating entity within the CVS Health organization.

“While this was a highly personal decision for Shawn, he is reassured with the knowledge that the company has an extremely strong finance team. During pre-close integration work, Shawn came to value the depth and breadth of talent in the CVS Health finance organization that will be complemented by the deep and talented bench in the Aetna finance group,” said Larry J. Merlo, President and Chief Executive Officer. “We respect Shawn and wish him well.”

Board Expansion

“We are delighted to welcome Fernando, Mark, Roger and Ed to the CVS Health Board,” said David W. Dorman, Chairman of CVS Health. “Our shareholders will benefit from the depth of their knowledge of Aetna’s business and their complementary expertise, which will be essential to the combined company as we transform the way health care is delivered in America.”

Mr. Ludwig joined the Aetna Board of Directors in 2003 and has served as Lead Director since 2012.  He also is a member of the executive, investment and finance, nominating and corporate governance, and compensation and talent management committees. Mr. Farah joined the Aetna Board in 2007 and chairs the compensation and talent management committee, and he is a member of the executive and investment and finance committees.  Mr. Aguirre joined the Aetna Board in 2011 and chairs the nominating and corporate governance committee, and he is a member of the executive and audit committees. The terms of Messrs. Aguirre, Bertolini, Farah and Ludwig on the CVS Health Board will begin immediately after the closing of the Aetna acquisition.

CFO Appointment

Eva Boratto has an extensive financial background that spans more than 20 years and includes senior positions in both the pharmaceutical manufacturing and PBM industries, along with other health care finance roles.  She joined CVS Health in 2010 as Senior Vice President, PBM Finance and most recently has served as CVS Health’s Executive Vice President – Controller and Chief Accounting Officer. 

Prior to joining CVS Health, Ms. Boratto served in a number of executive positions at Merck & Co., including Vice President, U.S. Market Finance Leader, with responsibility for financial oversight of Merck’s U.S. pharmaceutical market, and Vice President, Investor Relations.

“Eva is an exceptionally talented leader with broad financial experience and excellent management capabilities who, during her nearly ten years at CVS Health, has served as a trusted advisor to me and to our Board of Directors,” Merlo said. “With knowledge of our business and of all aspects of the financial function of a multi-faceted organization, she will play a vital role in both our integration work and in our efforts to drive needed change in our health care system to deliver both near and long-term value for our shareholders.” 

New Board Member Bios

Mr. Ludwig has served on the Aetna Board since 2003 and has served as Aetna’s Lead Director since 2012.  He has significant executive-level leadership and business expertise with more than 30 years of experience in the medical technology field, including serving for over ten years in each of the roles of Chief Executive Officer and Chairman of Becton, Dickinson and Company after serving as its Chief Financial Officer.  He also has significant public company board experience serving on the board of several companies, including Boston Scientific Corporation, where he is currently the Lead Independent Director.

Mr. Aguirre has served on the Aetna Board since 2011 and has extensive consumer products, global business and executive leadership experience, including as Chief Executive Officer and Chairman of Chiquita Brands International, Inc. from 2004 to 2012 and in several senior positions over 23 years at The Procter & Gamble Company.  He also has served as an independent director on several other public company boards. 

Mr. Farah has served on the Aetna Board since 2007 and has extensive business and leadership experience.  He has developed strong marketing, brand management and consumer insights in his over 40 years in the retail industry, including as Co-Chief Executive Officer, Director and Executive Director of Tory Burch LLC and President, Chief Operating Officer, Director and Vice Chairman of Ralph Lauren Corporation.  He also has extensive board experience serving on a number of public company boards and is currently the Chairman of the Board of Tiffany & Co.

About CVS Health

CVS Health is a pharmacy innovation company helping people on their path to better health. Through its more than 9,800 retail locations, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with approximately 94 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan, the company enables people, businesses and communities to manage health in more affordable and effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

Investor Contact:

Mike McGuire
401-770-4050
michael.mcguire@cvshealth.com

Media Contact:

Carolyn Castel
401-770-5717
Carolyn.Castel@CVSHealth.com

No Offer or Solicitation

This communication is for informational purposes only and not intended to and does not constitute an offer to subscribe for, buy or sell, the solicitation of an offer to subscribe for, buy or sell or an invitation to subscribe for, buy or sell any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.  No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

Additional Information and Where to Find It

In connection with the transaction, CVS Health filed a registration statement on Form S-4 with the Securities and SEC, which includes a joint proxy statement of CVS Health and Aetna that also constitutes a prospectus of CVS Health.  The registration statement was declared effective by the SEC on February 9, 2018 (the “Registration Statement”), and CVS Health and Aetna commenced mailing the definitive joint proxy statement/prospectus to stockholders of CVS Health and shareholders of Aetna on or about February 12, 2018 (the “Joint Proxy Statement/Prospectus”) and the special meeting of the stockholders of CVS Health and the shareholders of Aetna was held on March 13, 2018.  INVESTORS AND SECURITY HOLDERS OF CVS HEALTH AND AETNA ARE URGED TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION.  Investors and security holders may obtain free copies of the Registration Statement and the definitive Joint Proxy Statement/Prospectus and other documents filed with the SEC by CVS Health or Aetna through the website maintained by the SEC at http://www.sec.gov.  Copies of the documents filed with the SEC by CVS Health are available free of charge within the Investors section of CVS Health’s Web site at http://www.cvshealth.com/investors or by contacting CVS Health’s Investor Relations Department at 800-201-0938.  Copies of the documents filed with the SEC by Aetna are available free of charge on Aetna’s internet website at http://www.Aetna.com or by contacting Aetna’s Investor Relations Department at 860-273-0896.

Cautionary Statement Regarding Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 (the “Reform Act”) provides a safe harbor for forward-looking statements made by or on behalf of CVS Health Corporation (“CVS Health”) or Aetna, Inc.  (“Aetna”).   This communication may contain forward-looking statements within the meaning of the Reform Act.  You can generally identify forward-looking statements by the use of forward-looking terminology such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “evaluate,” “expect,” “explore,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “view,” or “will,” or the negative thereof or other variations thereon or comparable terminology.  These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond CVS Health’s and Aetna’s control.

Statements in this communication regarding CVS Health and Aetna that are forward-looking, including CVS Health’s and Aetna’s projections as to the closing date of the transactions contemplated by the Agreement and Plan of Merger, dated as of December 3, 2017 (“Merger Agreement”), among CVS Health, Aetna and Hudson Merger Sub Corp., a wholly-owned subsidiary of CVS Health (the “transaction”), the extent of, and the time necessary to obtain, the regulatory approvals required for the transaction, the anticipated benefits of the transaction, the impact of the transaction on CVS Health’s and Aetna’s businesses, the expected terms and scope of the expected financing for the transaction, the ownership percentages of CVS Health’s common stock of CVS Health stockholders and Aetna shareholders at closing, the aggregate amount of indebtedness of CVS Health following the closing of the transaction, CVS Health’s expectations regarding debt repayment and its debt to capital ratio following the closing of the transaction, CVS Health’s and Aetna’s respective share repurchase programs and ability and intent to declare future dividend payments, the number of prescriptions used by people served by the combined companies’ pharmacy benefit business, the synergies from the transaction, and CVS Health’s, Aetna’s and/or the combined company’s future operating results, are based on CVS Health’s and Aetna’s managements’ estimates, assumptions and projections, and are subject to significant uncertainties and other factors, many of which are beyond their control.  In particular, projected financial information for the combined businesses of CVS Health and Aetna is based on estimates, assumptions and projections and has not been prepared in conformance with the applicable accounting requirements of Regulation S-X relating to pro forma financial information, and the required pro forma adjustments have not been applied and are not reflected therein.  None of this information should be considered in isolation from, or as a substitute for, the historical financial statements of CVS Health and Aetna.  Important risk factors related to the transaction could cause actual future results and other future events to differ materially from those currently estimated by management, including, but not limited to: the timing to consummate the proposed transaction; the risk that a regulatory approval that may be required for the proposed transaction is delayed, is not obtained or is obtained subject to conditions that are not anticipated; the risk that a condition to the closing of the proposed transaction may not be satisfied; the outcome of litigation related to the transaction; the ability to achieve the synergies and value creation contemplated; CVS Health’s ability to promptly and effectively integrate Aetna’s businesses; and the diversion of and attention of management of both CVS Health and Aetna on transaction-related issues.

In addition, this communication may contain forward-looking statements regarding CVS Health’s or Aetna’s respective businesses, financial condition and results of operations.  These forward-looking statements also involve risks, uncertainties and assumptions, some of which may not be presently known to CVS Health or Aetna or that they currently believe to be immaterial also may cause CVS Health’s or Aetna’s actual results to differ materially from those expressed in the forward-looking statements, adversely impact their respective businesses, CVS Health’s ability to complete the transaction and/or CVS Health’s ability to realize the expected benefits from the transaction. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on the transaction and/or CVS Health or Aetna, CVS Health’s ability to successfully complete the transaction and/or realize the expected benefits from the transaction.  Additional information concerning these risks, uncertainties and assumptions can be found in CVS Health’s and Aetna’s respective filings with the SEC, including the risk factors discussed in “Item 1.A.  Risk Factors” in CVS Health’s and Aetna’s most recent Annual Reports on Form 10-K, as updated by their Quarterly Reports on Form 10-Q and future filings with the SEC.

You are cautioned not to place undue reliance on any CVS Health’s and Aetna’s forward-looking statements.  These forward-looking statements are and will be based upon management’s then-current views and assumptions regarding future events and operating performance, and are applicable only as of the dates of such statements.  Neither CVS Health nor Aetna assumes any duty to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, as of any future date.

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
0

MinuteClinic Opens New Walk-in Medical Clinic in La Jolla, California

Top of the article

Woonsocket, RI, October 31, 2018  A new MinuteClinic walk-in medical clinic has opened inside the CVS Pharmacy store at 8831 Villa La Jolla Drive in La Jolla, California, providing the community with convenient access to common health care services. The new clinic is open seven days a week with no appointment necessary. The clinic will provide a wide array of high-quality, affordable wellness services for patients ages 18 months and older. MinuteClinic is the retail medical clinic of CVS Health (NYSE: CVS), the largest pharmacy health care provider in the United States.

“Our new clinic will help increase access to high-quality, affordable health care for people who live and work in La Jolla,” said Sharon Vitti, Senior Vice President and Executive Director, MinuteClinic. “We’re excited to bring our growing suite of health care services to the La Jolla community and we look forward to being a health care resource for residents, when and where they need us.”  

MinuteClinic is staffed by nurse practitioners who specialize in family health care and can diagnose, treat and write prescriptions for common illnesses such as strep throat and ear, eye, sinus, bladder and bronchial infections. Minor wounds and abrasions, and sprains, strains and joint pain are treated, and common vaccinations for conditions such as influenza, tetanus, pneumonia and hepatitis A and B are available. 
 
Prevention and wellness services offered at MinuteClinic include screening and monitoring for diabetes, high blood pressure and high cholesterol, tuberculosis (TB) testing, contraceptive care, motion sickness prevention and smoking cessation. In addition, MinuteClinic nurse practitioners can evaluate and treat common skin conditions, such as acne, dermatitis and rosacea.
  
At the conclusion of each MinuteClinic visit, patients receive educational material, a prescription (when clinically appropriate) and a visit summary. A copy of the diagnostic record can be sent electronically, or by fax or mail, to a primary care provider with patient permission.

Most major health insurance is accepted at MinuteClinic. For patients paying cash or credit, treatment prices are posted at each clinic and online at www.minuteclinic.com. The cost for most services is between $89 and $129.

Individuals who visit MinuteClinic and do not have a primary care provider are given a list of physicians in the community who are accepting new patients. A new digital tool accessible via www.minuteclinic.com allows patients to view wait times at all MinuteClinic locations. Patients can also hold a place in line or schedule a future appointment from the convenience of their smartphone, computer or tablet.

The new clinic in La Jolla will be open from 8:00 a.m. to 7:00 p.m. Monday through Friday, 9:00 a.m. to 5:30 p.m. on Saturday and Sunday.

About MinuteClinic

MinuteClinic is the retail medical clinic of CVS Health (NYSE: CVS), the largest pharmacy health care provider in the United States. MinuteClinic launched the first retail medical clinics in the United States in 2000 and is the largest provider of retail clinics with more than 1,100 locations in 33 states and the District of Columbia. By creating a health care delivery model that responds to patient demand, MinuteClinic makes access to high-quality medical treatment easier for more Americans. Nationally, the company has provided care through more than 42 million patient visits, with a 95 percent customer satisfaction rating. MinuteClinic is the only retail health care provider to receive four consecutive accreditations from The Joint Commission, the national evaluation and certifying agency for nearly 21,000 health care organizations and programs in the United States. For more information, visit www.minuteclinic.com.

 
Media Contact:

Amy Lanctot
(401) 770-2931
CVS Health
Amy.Lanctot@cvshealth.com

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
0