Welcome to our dedicated page for Cvs Health news (Ticker: CVS), a resource for investors and traders seeking the latest updates and insights on Cvs Health stock.
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 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.