With Expanded Telehealth, CVS Health Continues to Solidify Role in Primary Care
A year ago, when I talked with HealthLeaders about the CVS name change, I indicated to reporter Chris Cheney that the company’s rebrand to “CVS Health” was about claiming its territory and becoming a significant player in the healthcare industry. I also issued a warning to payers and providers. I urged them not to dismiss the move as a publicity stunt, instead placing the CVS name change in the context of the company’s strategic trajectory… a rapid advance into primary care.
In the last 12 months, we’ve watched CVS Health announce acquisitions and partnerships – such as the company’s purchase of Target pharmacies – that solidify this direction. Most recently, CVS Health announced it will work with three of the biggest names in telehealth: American Well, Doctor on Demand and Teladoc. CVS Minute Clinics have already been utilizing telehealth in waiting rooms, giving patients the option to be seen (presumably faster) by other available Minute Clinic providers in the same state. The new CVS Health partnerships expand these telehealth capabilities beyond the walls of the clinic waiting rooms into consumer homes.
This level and pace of expansion is, of course, important for the industry to watch. This is the kind of competition existing practices will face. Insurers will have to make adjustments, as well, to incorporate the new models of care into coverage for their members. But the expansion itself isn’t the only factor impacting providers and payers. Also of note is how the company is embracing technology and collaborating with innovators who are already making advancements in the industry.
In its press release about the telehealth partnerships, CVS Health’s Senior Vice President and Chief Digital Officer Brian Tilzer addressed the company’s commitment to connected health and digital technology for improving the healthcare experience: “A key pillar of our strategy is forging the right partnerships within the industry. We recognize that some of the best ideas are already being developed, so we’re committed to partnering with other companies to explore and expand on these ideas together.”
CVS Health’s spirit of possibility is encouraging and is a good example for payers and providers to follow. The new healthcare consumer has new needs that require new ways of doing business.
