CVS Health Foundation grants $4 million as part of its new healthy aging initiative
Rhea-AI Summary
CVS Health Foundation has announced a $4 million grant initiative over five years to support healthy aging programs across four U.S. cities. The funding will be distributed equally ($1 million each) to organizations in Atlanta, Chicago, New York City, and Boynton Beach, focusing on improving healthcare access and resources for aging community members with brain, heart, and behavioral conditions.
The initiative responds to demographic shifts, as Census Bureau projections indicate that by 2034, Americans over 64 will outnumber those under 18. The grants will support various programs including Atlanta's Community Resource Hub, Chicago's Center for Better Aging's coordinated care model, New York's Care Your Way telemedicine initiative, and Boynton Beach's caregiver support program.
Each recipient organization will focus on specific local needs, from providing medically tailored meals and educational services to establishing data systems for tracking health outcomes and expanding telemedicine infrastructure.
Positive
- Strategic investment in growing demographic segment
- Geographic diversification across four major markets
- Focus on technology integration and data tracking systems
Negative
- None.
News Market Reaction
On the day this news was published, CVS gained 1.57%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Funding will support organizations serving older adults in
"People over the age of 65 are enjoying longer, more active lives and make up the largest generation of older adults in
Americans are having fewer children and living longer. According to the Census Bureau, more people in the
The
"Collaboration — like here with the CVS Health Foundation — has shown us that when we work together, we can indeed invert the burden from those who have traditionally been left out of good health, including many of our city's underserved elders," said Jeffrey M. Smythe, Executive Director of
As one of the of partners, Caitlin Behringer at Open Hand Atlanta shares, "We saw tremendous results through our nutrition interventions that were provided to members of the Community Resource Hub, and we know we will continue to see significant improvements in older adults' health outcomes. Leaders from across multiple of these sectors have come together today because we know this can be a game-changer and we can provide significant improvements to the systems of care for our most marginalized older adults and their caregivers."
Center for Better Aging
The Center for Better Aging at St. Bernard Hospital will use the grant to improve its coordinated care model, which is designed to address the high rates of chronic conditions in the South Side of
"The Center for Better Aging has a mission to advance quality and equality in health care to underserved communities across
The Center for Better Aging and its partners deliver whole-person health care and provide medical and wellness services across the St. Bernard Hospital campus, in-home wellness visits and through community outreach. As a partner of Center for Better Aging, Vivian Moore, LCPC, CCM, SPARC Wellness Care Coordinator shares, "In our partnership with CBA we've been able to ensure that patients are not delayed in discharge and we're not keeping them longer than they need to be kept, but also assuring that when they're discharged they have the proper equipment with them to support stabilization post-discharge."
EngageWell Independent Provider Association
EngageWell will deploy the funding to enhance its ongoing work making health care nimbler and more responsive to the aging
"EngageWell is excited to bring our Care Your Way Initiative to older New Yorkers, focusing on low-income elders of color who often experience barriers accessing quality healthcare," said Christopher Joseph, Executive Director of EngageWell IPA. "Elders in these communities often experience significant challenges due to chronic health conditions exacerbated by socio-economic factors, shortages in geriatric specialists, and difficulties navigating technology and transportation. By harnessing innovative technology with Community Health Worker technical assistance and outreach, we aim to address the unique needs of aging New Yorkers, making a meaningful impact on their health and well-being."
As a partner of EngageWell and president and CEO of ACCO Asian community Care organization, Tom Gu shares, "We joined EngageWell in 2023 and are proud to serve over 1400 seniors each year. During COVID-19, our seniors faced increased isolation and fear, so we created an app to connect them with much needed support. When we saw how Engage Well was using technology to improve care, we knew we wanted to be part of the network."
Palm Health Foundation
With this funding, Palm Health Foundation will create a Healthier Aging Initiative as part of its Healthier Boynton Beach to support caregivers who are over 60 years old. Often a caregiver's own health gets overlooked, so this grant will help to identify, coordinate and connect health and wellness services to caregivers in the community.
"Palm Health Foundation wants to see all Palm Beach County residents have opportunities to thrive and reach their full health potential," said Patrick McNamara, President and CEO at Palm Health Foundation. "We make progress toward this vision by centering the voices of those we serve. Our Healthier Boynton Beach initiative is community-driven, with caregivers leading solutions for fellow caregivers to improve and sustain their quality of life."
As part of leading this work, Ricky Petty, Healthier Boynton Beach Project Director shared, "Our community had a conversation about family caregiving and the importance of it and they realized some of the challenges that they face on a day-to-day basis. Challenges such as chronic health conditions, limited access to healthcare, supportive services and the financial strain that it has on families. This initiative is driven by their voice and experience."
About CVS Health
CVS Health® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and over 300,000 dedicated colleagues — including more than 40,000 physicians, pharmacists, nurses and nurse practitioners. Wherever and whenever people need us, we help them with their health — whether that's managing chronic diseases, staying compliant with their medications or accessing affordable health and wellness services in the most convenient ways. We help people navigate the health care system — and their personal health care — by improving access, lowering costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every day. Follow @CVSHealth on social media.
Media contacts
Courtney Tavener
401-712-3698
Courtney.Tavener@CVSHealth.com
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SOURCE CVS Health
FAQ
How much is CVS Health Foundation investing in its new Healthy Aging initiative?
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