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CVS Health Corporation operates an integrated health care model that combines retail pharmacy, pharmacy benefit management, health insurance, medical clinics, specialty and mail pharmacy support, and related consumer health services. Recurring company news includes quarterly results and guidance, segment performance across Health Services, Health Care Benefits, and Pharmacy & Consumer Wellness, and capital returns through common-stock dividends.
Updates also cover CVS Caremark formulary decisions, biosimilar adoption, Aetna prior authorization and plan-administration initiatives, community health investments by the CVS Health Foundation, and developments involving Omnicare, the company's long-term care pharmacy subsidiary.
CVS Health has announced a new collaboration with RUSH University System for Health to enhance healthcare access for Medicare patients in Chicago. This partnership focuses on coordinated care based on Medicare's ACO REACH model, promoting health equity and reducing unnecessary medical costs. Patients can access RUSH clinical services through ACO REACH-participating MinuteClinics in Chicago and Evanston, which provide in-person and virtual care. The initiative aims to bolster care coordination and support for 35,000 Medicare beneficiaries, ensuring comprehensive services including transportation and cost-sharing assistance. This agreement underscores CVS's commitment to improving health equity.
CVS Health (NYSE: CVS) will conduct a conference call on February 8, 2023, at 8:00 a.m. ET to discuss its fourth quarter and full-year 2022 financial results. The call aims to provide insights into the company’s performance over the past year. Investors and analysts can participate via an audio webcast available on the CVS Health Investor Relations website, where it will remain archived for one year.
CVS Health (NYSE: CVS) announced the appointment of Sam Khichi as Executive Vice President, Chief Policy Officer, and General Counsel, effective February 13, 2023. In this role, he will oversee the legal, compliance, and government affairs teams, aiming to enhance healthcare accessibility and affordability. Khichi, with extensive experience in managing healthcare legal strategies, succeeds Tom Moriarty, who is retiring in April 2023. CVS Health's President and CEO, Karen S. Lynch, praised Khichi's track record in leading significant transformations in healthcare organizations.
CVS Health (NYSE: CVS) announced that President and CEO Karen S. Lynch and Executive Vice President and CFO Shawn Guertin will present at the 41st Annual J.P. Morgan Healthcare Conference on January 10, 2023, at 8:15 a.m. Pacific Time. An audio webcast of the presentation will be available on the Investor Relations section of the CVS Health website, archived for one year.
CVS Health is a leading health solutions company dedicated to improving community health through local presence and digital channels.
CVS Health has approved a quarterly dividend of $0.605 per share, reflecting a 10% increase from the previous dividend. The dividend will be paid on February 1, 2023, to shareholders on record by January 20, 2023. This decision indicates the company's ongoing commitment to returning value to its shareholders amidst its expanding role in healthcare.
Aetna Better Health of West Virginia, a CVS Health company, has allocated $6.1 million to 18 healthcare providers in West Virginia. This funding aims to enhance community-based waiver services for children with serious emotional disorders (CSED) and support their transition from residential facilities to home or community settings. The initiative supports over 500 children in state facilities, focusing on intensive behavioral health services. Aetna’s investment will facilitate hiring staff, training, and developing specialized programs to improve mental health outcomes for youth.
CVS Health has inaugurated its first MinuteClinic locations in northern Delaware on December 1, 2022, enhancing access to affordable health care. These clinics, located in Bear and Wilmington, cater to various acute and chronic conditions for patients aged 18 months and older. MinuteClinic is the first retail health provider accredited by The Joint Commission, maintaining high patient care standards since 2006. The clinics offer expanded hours, virtual care, and accept major health insurances, further supporting community health needs.
CVS Health is proactively preparing for Hurricane Nicole's impact on Florida, prioritizing health and safety for colleagues, customers, and members. Key measures include contacting patients for prescription refills and ensuring pharmacies have emergency supplies. CVS Caremark is offering emergency medication refills, while Aetna's clinical teams are enhancing member support. CVS is also advising patients on preparing for the storm, including following evacuation orders and securing medications. The company is committed to community support and disaster relief communication.
CVS Health (NYSE: CVS) announced that CFO Shawn Guertin will participate in a fireside chat at the 31st Annual Credit Suisse Healthcare Conference on November 9, 2022, at 8:35 am PT. The event will be accessible via an audio webcast on the CVS Health Investor Relations site, where it will be archived for one year.
CVS Health reports Q3 2022 results, revealing total revenues of $81.2 billion, a 10% increase year-over-year. The company faced a GAAP loss of $(2.60) per share due to $5.2 billion in opioid litigation charges. Adjusted EPS stood at $2.09, with revised full-year GAAP EPS guidance now at $3.12 to $3.22. Increased revenues in Health Care Benefits and Pharmacy Services segments offset losses in Retail/LTC. The company also announced plans to acquire Signify Health for approximately $8 billion.