Welcome to our dedicated page for CVS HEALTH CORPORATION news (Ticker: CVS), a resource for investors and traders seeking the latest updates and insights on CVS HEALTH CORPORATION stock.
CVS Health Corporation (NYSE: CVS) is an American healthcare conglomerate that encompasses CVS Pharmacy, a widespread retail pharmacy chain, CVS Caremark, a premier pharmacy benefits manager (PBM), and Aetna, a leading health insurance provider. With over 9,000 retail locations across the U.S., CVS Health offers a diverse range of healthcare services aimed at enhancing accessibility and affordability.
Operations and Services
CVS Health's core activities revolve around its retail pharmacy operations, which include prescription services and an array of health and wellness products. It processes approximately 2 billion adjusted claims annually through CVS Caremark, ensuring efficient PBM services. Aetna, serving about 26 million medical members, complements CVS with comprehensive health insurance plans.
Recent Developments
In recent news, CVS Health has achieved significant milestones:
- Financial Results: The company reported strong fourth-quarter and full-year financial results for 2023, reflecting its robust position in the healthcare market.
- Affordable Housing Initiatives: CVS Health has invested nearly $35 million in equity investments to develop affordable housing in Hawaii, addressing urgent community needs post-natural disasters.
- Medicaid Services: Aetna Better Health of Michigan, part of CVS Health, has been recommended to continue serving Medicaid and CHIP beneficiaries under Michigan’s new Comprehensive Health Care Program (CHCP).
Strategic Acquisitions
CVS Health's acquisition of Oak Street Health adds primary care services to its offering, fostering synergies across its business lines. This strategic move aligns with its mission to provide seamless healthcare solutions, emphasizing convenience and comprehensive care.
Community Impact
CVS Health is committed to enhancing community health through local presence and digital channels. Its investments in affordable housing and educational programs in Hawaii exemplify its dedication to addressing social determinants of health.
Upcoming Events
The company will hold a conference call on May 1st, 2024, to discuss the first-quarter financial results of 2024, offering insights into its ongoing strategies and performance.
With over 300,000 dedicated professionals, including 40,000+ healthcare providers, CVS Health continues to be a trusted partner in health, improving lives with every significant moment of care.
CVS Health has announced the expansion of its no-cost community screening program, Project Health, into 14 new metro markets. This initiative aims to provide crucial health screenings to underserved populations, marking the program's 16th year. CVS will host over 1,700 events across 32 metro areas by December. The expansion follows a $600 million commitment to tackle inequality affecting marginalized communities. Project Health has offered more than $134 million in healthcare services since 2006, focusing on preventive care for chronic conditions.
CVS Health has launched CVS Health Ventures, a corporate venture capital fund with an initial allocation of $100 million. The fund aims to invest in early-stage companies focused on enhancing accessibility and affordability in healthcare. CVS Health has previously made over 20 direct investments, yielding strong returns. The initiative aims to foster partnerships and accelerate innovation in digital healthcare, aligning with CVS's goal to provide better health experiences for consumers.
CVS Health announced on April 21, 2021, that its MinuteClinic is now offering Video Visits for patients in Alaska. This telehealth service is available 24/7 and can be accessed via mobile devices or computers. Video Visits provide a convenient option for routine health care and COVID-19 screenings, especially for residents without physical MinuteClinic locations in Alaska. Each session costs $59, with most Aetna plans covering the visit. Collaborating with Teladoc, the service matches patients with licensed providers to ensure quality care.
CVS Health Corporation (CVS) will conduct a conference call on May 4, 2021, at 8:00 a.m. ET, to discuss its first quarter financial results for 2021. The call will be accessible via an audio webcast on the company's Investor Relations website, which will also archive the event for a year. CVS Health emphasizes its diversified model and commitment to improving health care accessibility and affordability, reaching one in three Americans annually through innovative services, including HealthHUB locations.
CVS Pharmacy has introduced three new over-the-counter COVID-19 testing options available in-store and online as of April 19, 2021. The tests include the Ellume COVID-19 Home Test for $38.99, the Abbott BinaxNOW COVID-19 Antigen Self-Test for $23.99, and the Pixel by Labcorp PCR Test Home Collection Kit. All have received FDA Emergency Use Authorization and provide easy access to testing, enhancing CVS Health's commitment to COVID-19 response. The tests are available nationwide with no insurance coverage.
CVS Health will begin administering COVID-19 vaccines at 16 locations in Arkansas starting April 14, 2021. This initiative, part of the company's broader effort to enhance vaccine accessibility, allows eligible individuals—including K-12 teachers and childcare workers—to receive vaccinations. Appointments can be booked via CVS.com or the CVS app, with no cost for insured patients and those uninsured through federal programs. The company expects to administer vaccines at over 6,000 locations nationwide, aiming for a capacity of 25 million shots per month.
CVS Health announces the expansion of COVID-19 vaccination efforts, starting on April 14, 2021, at 14 CVS Pharmacy locations in Iowa. This initiative, part of a broader response to the pandemic, allows eligible individuals, including K-12 teachers, to receive vaccines at no cost through insurance or a federal program. Appointments can be booked starting April 13, as CVS aims to increase accessibility and support community reopening.
By April 14, CVS plans to administer vaccines at over 6,000 locations across the U.S., maintaining capacity for 25 million shots monthly.
CVS Health will begin administering COVID-19 vaccines at 10 selected pharmacy locations in Maine starting April 14, 2021. Appointments can be booked from April 13, with eligibility for K-12 teachers, staff, and childcare workers. CVS aims to provide vaccines at over 6,000 locations nationwide, enhancing accessibility for up to 70% of the U.S. population within a 5-mile radius. The company can administer 25 million doses monthly, free for those with insurance or through the federal program for the uninsured. This initiative supports community reopening efforts post-pandemic.
CVS Health will begin administering COVID-19 vaccines at 11 selected pharmacy locations in Nebraska starting April 14. Appointments can be booked from April 13 as stores receive vaccine shipments. Vaccinations are available at no cost to insured and uninsured individuals. CVS aims to facilitate access to vaccines, with over 6,000 locations nationwide and the capacity to deliver up to 25 million shots per month. The Federal Retail Pharmacy Program and new CDC guidelines will further expand eligibility to all U.S. adults by April 19.
FAQ
What is the current stock price of CVS HEALTH CORPORATION (CVS)?
What is the market cap of CVS HEALTH CORPORATION (CVS)?
What does CVS Health Corporation do?
How many stores does CVS Health operate?
What recent acquisitions have CVS Health made?
What is CVS Caremark?
What services does Aetna provide?
What community initiatives is CVS Health involved in?
What is the financial outlook for CVS Health in 2024?
When will CVS Health discuss its first-quarter results of 2024?
How does CVS Health support Medicaid and CHIP beneficiaries?
How does CVS Health improve access to healthcare?
