Cvs Health Corp Stock Price, News & Analysis

CVS Health announced a new policy requiring all customers to wear face coverings in its stores starting July 20, 2020, in response to a rise in COVID-19 cases. The company has consistently prioritized safety measures since the pandemic began, including mandating employee face coverings and encouraging customer compliance. CVS will not enforce this policy but urges customers to cooperate for mutual safety. More details about CVS's COVID-19 response can be found on their dedicated resource center.

CVS Health (NYSE: CVS) launched the 'Time for Care' campaign on July 15, 2020, to emphasize the importance of accessing primary health care during the COVID-19 pandemic. The initiative aims to combat health concerns resulting from delayed medical appointments, especially among those with chronic conditions. Key findings from a national survey revealed that nearly 60% of Americans delayed health appointments due to COVID-19 fears, with a significant impact on individuals with chronic conditions. CVS is also addressing health disparities in underserved communities through expanded testing efforts.

The 2020 Path to Better Health Study by CVS Health reveals significant shifts in consumer attitudes towards health care amid the COVID-19 pandemic. Consumers increasingly seek accessible, affordable, and technology-driven solutions. Notably, 48% expressed a preference for digital communication with providers, while 40% are open to virtual care for mental health. Despite this demand, 35% cite health care costs as a barrier to wellness. The study, based on surveys of 1,000 consumers and 400 providers, highlights the growing reliance on technology and the need for improved access to care.

CVS Health Corporation (NYSE: CVS) announced its board of directors has approved a quarterly dividend of $0.50 per share on common stock. This dividend will be payable on August 3, 2020, to shareholders of record on July 23, 2020. This decision reflects the company's commitment to delivering value to its shareholders while emphasizing its goal of becoming the most consumer-centric health company. CVS aims to adapt to changing consumer needs through innovative health services and community-focused initiatives.

CVS Pharmacy has launched Spoken Rx™, a groundbreaking feature in its app designed for patients with visual impairments. This first-in-kind tool allows users to have prescription label information read aloud using voice assistants like Siri or Google Assistant. By the end of 2020, 1,500 CVS locations will utilize RFID labels for this service, enhancing patient safety and adherence. Spoken Rx is free, available in English and Spanish, and aims to improve accessibility across CVS Pharmacy locations by the end of 2021, fostering better independence for visually impaired customers.

CVS Health, in collaboration with Maryland Governor Larry Hogan, Congressman Kweisi Mfume, and Mayor Bernard C. Young, announced the opening of a COVID-19 rapid testing site in Baltimore on June 26, 2020. This site, located at 2401 Liberty Heights Avenue, offers free testing to the public, supported by healthcare providers from MinuteClinic and CVS Pharmacy employees. Appointments are required for testing, with immediate results provided. CVS Health continues its efforts to enhance testing accessibility, with a considerable percentage of its nationwide locations serving communities in need.

CVS Health has expanded its COVID-19 testing program by launching 15 additional drive-thru test sites in Arizona, effective June 26, 2020. This initiative increases CVS's testing capacity to over 1.5 million tests per month. The company has opened nearly 1,400 testing sites nationwide since May, with almost 60% located in areas identified as high-need according to the CDC's Social Vulnerability Index. Self-swab tests will be available to eligible individuals through prior registration at CVS.com. CVS's efforts aim to enhance access to testing for underserved populations amid rising COVID-19 cases.

CVS Health has launched Return Ready™, a customizable COVID-19 testing solution aimed at employers and universities to facilitate the safe return of employees and students. The program offers flexible testing options, including on-site and drive-thru testing, with comprehensive support such as clinician-informed protocols, communications toolkits, and analytics dashboards. The initiative underscores CVS Health's commitment to improving COVID-19 testing accessibility across communities, especially those most affected by the pandemic.

Aetna Better Health of West Virginia, a CVS Health company, has been awarded a statewide Medicaid contract effective July 1, 2020, through the Mountain Health Trust managed care program. This contract aims to serve various Medicaid-eligible groups across all 55 counties in West Virginia, emphasizing high-quality health care delivery. Aetna currently manages care for 160,000 members through its programs. The Mountain Health Trust contract runs until June 30, 2021, and supports Aetna's long-standing mission of improving health outcomes for vulnerable populations, including children in the foster care system.