CVS Health moves closer to home care with $8B Signify deal
2 years, 3 months ago

CVS Health moves closer to home care with $8B Signify deal

Associated Press  

CVS Health will pay about $8 billion to expand into home care, a practice that could cut costs and keep patients happy, provided they get the help they need. The health care giant is buying Signify Health, a technology company that sends doctors or other care providers to patient homes to assess how they are doing and what help they might need. “The home is increasingly part of that choice,” she said, noting that the deal gives the company a foundation to expand further into home health care. The company says it then connects patients after that assessment to “appropriate follow-up care and community-based resources.” A company representative said Signify shares what it learned with both the patient’s insurer and primary care doctor.

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CVS Health chops 2024 forecast as cost struggles with Medicare Advantage persist
7 months, 3 weeks ago

CVS Health chops 2024 forecast as cost struggles with Medicare Advantage persist

Associated Press  

CVS Health missed first-quarter expectations and chopped its 2024 outlook more than a dollar below Wall Street’s forecast. Shares of the health care giant plunged Wednesday after the company said it was still struggling with rising costs from care use in its Medicare Advantage business. CVS Health had already scaled back 2024 expectations earlier this year as it worked to …

CVS Health grows more cautious about 2024 as it deals with rising Medicare Advantage costs
10 months, 2 weeks ago

CVS Health grows more cautious about 2024 as it deals with rising Medicare Advantage costs

Associated Press  

Busy Medicare Advantage businesses have CVS Health and other insurance providers spooked about the new year. The health care giant said Wednesday that it was scaling back already cautious expectations for 2024 as it tries to understand why costs keep rising from the privately run version of the government’s Medicare program. CVS Health said Wednesday those costs were coming from …

Subscription-based care moves beyond peddling birth control and helping with hair loss
11 months, 4 weeks ago

Subscription-based care moves beyond peddling birth control and helping with hair loss

Associated Press  

Need help losing weight or handling depression? Reitano told The Associated Press he thought one of the health care system’s biggest problems was that “it is not built around what patients want.” Subscriptions, whether for medicine or meal kits, offer predictable costs and may seem like good deals at first. Brooklyn said Hims’ program for mental health care includes psychiatry …

CVS Health books strong 3Q but the health care giant preaches caution on next year
1 year, 1 month ago

CVS Health books strong 3Q but the health care giant preaches caution on next year

Associated Press  

CVS Health beat third-quarter forecasts thanks partially to its growing pharmacy benefits management side, but the health care giant is cautious about next year. Cowhey said CVS Health should see growth from its core business in 2024 and reap savings from a previously announced cost-cutting program. CVS Health turned a $2.26 billion profit after reporting a loss of more than …

CVS Health turns in better-than-expected 2Q even as pharmacy pricing, increased care use hurt
1 year, 4 months ago

CVS Health turns in better-than-expected 2Q even as pharmacy pricing, increased care use hurt

Associated Press  

CVS Health topped second-quarter expectations, but the health care giant’s profit sank as pricing pressure hurt its drugstores and a jump in care use hit the insurance side. CVS Health runs prescription drug plans through one of the nation’s largest pharmacy benefits managers. In the second quarter, growth from the CVS Health’s largest business, pharmacy benefits management, softened hits from …

CVS beats Q1 expectations, cuts outlook after buying spree
1 year, 7 months ago

CVS beats Q1 expectations, cuts outlook after buying spree

Associated Press  

CVS Health turned in a better-than-expected first quarter as revenue grew from all parts of its business. The forecast cut on Wednesday came a day after CVS Health said it completed a roughly $10.6 billion acquisition of primary care provider Oak Street Health that it had just announced in February. After closing the deals, CVS Health said Wednesday that it …

Primary care a hot target; CVS spends $10.6B on Oak Street
1 year, 10 months ago

Primary care a hot target; CVS spends $10.6B on Oak Street

Associated Press  

Big money is pouring into primary care clinics as the nation’s health care giants hunt for ways to cut costs by keeping people healthy. CVS Health said Wednesday that it will spend about $10.6 billion to buy Oak Street Health, which runs clinics that specialize in treating Medicare Advantage patients. Oak Street CEO Michael Pykosz has said that a lot …

After an 11% profit spike, CVS outlook for 2021 grows rosy
3 years, 7 months ago

After an 11% profit spike, CVS outlook for 2021 grows rosy

Associated Press  

CVS Health hiked its 2021 forecast and beat Wall Street’s first-quarter expectations as a growing insurance business offset hits the health care giant took from a weak cold and flu season. CVS Health said Tuesday that it also delivered more than 23 million COVID-19 tests and 17 million vaccine doses through April, which helped its drugstore business. A weak cough, …

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