7 keys to open doors at CVS
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CVS Health is focusing on enhancing its consumer-centric technology infrastructure and expanding healthcare services, with plans to integrate Aetna's operations and save $750 million. The company is investing between $325 million and $350 million in technology to offer more convenient healthcare options and has implemented machine learning for personalized consumer engagement. CVS Health plans to have 1,500 HealthHUBs operational by the end of 2021 to cater to everyday healthcare needs.
7 keys to open doors at CVS
- 2. One of CVS Health's top priorities is to enhance its consumer-centric technology infrastructure to support many of the new programs and services it is implementing through its transformation efforts. CVS is making enhancements to its ExtraCare loyalty program system architecture. The retailer is now live with machine learning tools that are driving more targeted personalization that they expect to further improve the reach and relevance of shopper engagement efforts. CVS Prioritizes Data, Technology
- 3. UM will be responsible for media buying and planning for the primary CVS Health brand. CVS Health spent nearly $126 million and Aetna just over $33 million on measured marketing in the U.S. last year. CVS Health Consolidates Majority of $159 Million US Media Account With UM
- 4. By the end of 2021, CVS plans to have 1,500 HealthHUBs up and running nationwide. The HealthHUB model will cater more to everyday needs. CVS to aggressively expand healthcare services in stores
- 5. CVS is leveraging integrated data and advanced analytics, an intelligent engagement platform, and seamless and connected digital and physical experiences to "drive simplicity, convenience and better health care outcomes." – Jonathan Roberts, Operating Chief of CVS Health CVS Health's grand consumer-driven healthcare plan depends on data, infrastructure
- 6. CVS selects Roshan Navagamuwa as CIO to lead integration with Aetna. In his role, he will lead an enterprise-technology team made up of IT leaders from both CVS and Aetna. "We are bringing two world-class IT organizations together as part of this integration" – Roshan Navagamuwa. CVS expects to save $750 million in the next two years by combining operations and corporate expenses. CVS selects CIO to lead integration with Aetna
- 7. CVS Health will spend between $325 million and $350 million on technology to support its shift to offering more convenient healthcare options. "Supporting transformation — it includes investment in our clinical platform to more effectively engage members, our chronic care initiatives and other initiatives aimed at improving outcomes and lowering costs." – Eva Boratto, CVS Executive Vice President and CFO CVS to spend $325M on digital healthcare in 2019
- 8. IngenioRx is a new pharmacy benefit manager (PBM) announced by Anthem. CVS Caremark will manage certain services for IngenioRx including claims processing and prescription fulfillment. The new agreement, which goes into effect on January 1, 2020, runs through December 31, 2024. CVS Health Signs Five-Year Agreement with Anthem, Inc. to Provide Services to Support IngenioRx
- 9. The CVS Health TURBO report has over a dozen pages of customer insights compiled to help you sell and market more effectively. FORTUNE 500 TURBO REPORTS 844.DATABAHN 844.328.2224 ext. 707 info@databahn.com www.databahn.com We help sales reps and marketers eliminate costly research time and uncover new sales pipeline opportunities. Please visit www.databahn.com/page/turbo to download a TURBO Fortune 500 company profile report (PDF). We also build custom deep dive Fortune 1000 company profile reports. Please contact us if you are interested.