CVS Health chopped its 2024 forecast for a third time this year and changed the leadership of its health insurance business where it continues to struggle with rising costs. Rising claims from the company’s Medicare Advantage coverage have hurt CVS Health for much of this year and contributed to repeated trimmings of its outlook for 2024. Adjusted operating income, which …
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 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 …
A rush of vaccine-seeking customers and staff shortages are squeezing drugstores around the U.S., leading to frazzled workers and temporary pharmacy closures. “There’s crazy increased demand on pharmacies right now,” said Theresa Tolle, an independent pharmacist who has seen COVID-19 vaccine demand quadruple since the summer at her Sebastian, Florida, store. Burns said many pharmacies already had relatively thin staffing …
Editor’s Note: Karen S. Lynch is president and CEO of CVS Health. As one of the federal government’s national pharmacy partners for Covid-19 vaccinations, CVS Health is ready to continue our role in the coordinated response to the pandemic. Today, more than half of our testing sites serve communities with the greatest need for support as determined by the CDC’s …
