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.
Aetna Better Health of Louisiana, a CVS Health company, has been selected for a new statewide Medicaid contract, continuing its service to over 150,000 enrollees in various Medicaid programs. This contract will support Medicaid eligible populations, including those in CHIP, TANF, SSI, and behavioral health programs. Aetna has demonstrated success in improving health outcomes and addressing disparities, notably achieving the highest vaccination rates among Louisiana Medicaid plans. The contract is expected to begin later this year, pending negotiation and approval processes.
CVS Pharmacy launched six innovative home health care products under the CVS Health brand, designed in collaboration with Michael Graves Design. These products aim to cater to the aging population and caregivers, addressing unmet needs in bathroom safety and mobility. Available at over 6,000 CVS locations and online, the new offerings include comfort grip canes and travel walkers. With over 70 million Americans aged 65 and older projected by 2030, CVS is committed to enhancing everyday lives through quality, aesthetically pleasing health care solutions.
CVS Health (NYSE: CVS) has announced that Shawn Guertin, Executive Vice President and Chief Financial Officer, will speak at the Barclays Global Healthcare Conference on March 15, 2022, at approximately 8:00 am ET. An audio webcast of this event will be available live on the CVS Health Investor Relations website, with an archive available for one year.
CVS Health is a leader in health solutions, dedicated to enhancing community health through various services and support.
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CVS Health (NYSE: CVS) has launched a new digital service allowing consumers to order at-home COVID-19 test kits with zero upfront costs. This service simplifies the process by enabling consumers to enter their insurance details online, with CVS handling all claims. Notifications regarding order status will be sent via email or text. Following recent federal guidance effective January 15, 2022, insurers must cover up to eight tests per person per month. In 2021, CVS sold 22 million test kits and administered over 59 million COVID-19 vaccines.
CVS Health Corporation reported strong financial results for Q4 and full-year 2021, with total revenues reaching $76.6 billion for Q4 and $292.1 billion for the year, marking increases of 10.1% and 8.7% respectively. GAAP diluted EPS was $0.98 in Q4 and $5.95 for the year. Adjusted EPS rose to $1.98 for Q4 and $8.40 for the full year. The company also confirmed guidance for 2022, projecting GAAP EPS between $7.04 and $7.24.
CVS continued its pandemic response, administering over 59 million COVID-19 vaccines. A 10% increase in the annual dividend and a $10 billion share repurchase program were announced.
CVS Health has partnered with Medable to enhance patient access and engagement in clinical trials at select MinuteClinic locations. This collaboration aims to address low participation rates in clinical studies, particularly among underrepresented groups. Medable's software platform will facilitate decentralized clinical trial delivery and real-world evidence generation. CVS Health aims to leverage its extensive community reach to improve patient outcomes and support diversity in clinical research.
CVS Health has announced a significant investment of $12.7 million in partnership with R4 Capital to construct 204 affordable housing units in Nashville's Chestnut Hill neighborhood. This initiative aims to tackle racial inequity and health determinants by providing affordable housing for families earning 30% - 70% of the Area Median Income. The housing development, named 101 Factory, will feature various amenities and services aimed at enhancing residents' health and well-being. CVS Health has a broader commitment, having invested $185 million in affordable housing nationwide in 2021.
CVS Health has announced a $6.5 million investment to create Charity's House Place, a 36-unit supportive housing community in Denver aimed at aiding individuals experiencing homelessness and those with disabilities. This initiative reflects CVS's commitment to health equity, addressing social determinants of health in underserved areas. The project will collaborate with local organizations to provide essential services, ensuring residents can maintain stable housing and improve their health. In 2021, CVS invested $185 million in affordable housing, underscoring its ongoing dedication to community support.
CVS Health announced a collaboration with Uber Health to provide free transportation support for individuals needing access to medical care, work, or educational programs. This partnership is part of CVS's Health Zones initiative aimed at reducing health disparities in high-risk communities, beginning in cities like Atlanta, Columbus, and Hartford. The initiative focuses on social determinants of health, including transportation. CVS Health has invested $185 million in affordable housing and $1.3 billion over 20 years to improve health equity across America.