Morning Briefing
Summaries of health policy coverage from major news organizations
CVS Announces Expansion Of Hubs That Offer Health Services Such As Nutrition Counseling, Blood Pressure Screenings
Reuters: CVS To Expand Health Hubs To 1,500 Stores By End Of 2021
CVS Health Corp said it would offer expanded health services such as nutrition counseling and blood pressure screenings in 1,500 stores by the end of 2021, following through on plans announced during the pharmacy chain's 2018 acquisition of health insurer Aetna. The company plans to convert a total of 50 stores this year in Houston, Atlanta, Philadelphia, and Tampa, representing about 15% of the stores in each of the markets, it said ahead of a meeting on Tuesday with Wall Street analysts and investors in New York. The bulk of the expansion will be split between 2020 and 2021. (6/4)
Modern Healthcare: CVS Opening 1,500 New Retail Clinics In Its Stores
CVS' roughly 1,100 MinuteClinic sites currently focus on low-acuity services like colds and immunizations, and the company realized half of the patients who visit them don't have primary-care providers. The HealthHUB model will cater more to everyday needs, with a special focus on chronic disease management, offering services like blood draws and sleep apnea assessments. Some of CVS' MinuteClinic sites will be converted into HealthHUBs, although the company isn't saying exactly how many, CVS spokesman Joe Goode wrote in an email. A MinuteClinic typically has one to two exam rooms, while HealthHUBs will have three to four. The company plans to convert about 15% of its existing clinics into HealthHUBs, Goode said. HealthHUBs will be more staff-intensive to offer customers a more personalized experience and medical advice specific to their needs, Hourican said. (Bannow, 6/4)
The Wall Street Journal: CVS, Under Pressure After Aetna Deal, Sets Long-Term Profit Goals
CVS Health Corp., under pressure to reassure skeptical investors after its merger with Aetna Inc., said it would return to profit growth next year and detailed a vision for a health-care behemoth that drives down medical costs. After warning earlier this year that 2019 profits would decline, CVS gave longer-term projections for the first time since the Aetna merger. The company said Tuesday it expects adjusted earnings per share of at least $7 in 2020, growing by a mid-single-digit percentage in 2021 and larger increases the years following. (Terlep, 6/4)
Modern Healthcare: Broad CVS-Aetna Antitrust Concerns Expressed By Judge Over Merger
A federal judge who has refused for months to sign off on the $69 billion CVS-Aetna merger reiterated on Tuesday that he wants to look at any potential harm that the deal might cause for the public. U.S. District Judge Richard Leon in Washington, D.C., kicked off a three-day hearing as he considers whether to sign off on the U.S. Justice Department's approval of the merger. The judge must finally authorize the government's decision under the Tunney Act, but it isn't clear whether he can actually stop the CVS-Aetna deal as the two companies are largely operating as one. (Luthi, 6/4)
Columbus Dispatch: PBMs Become Potent Symbol In Federal Court Hearing Over CVS-Aetna Merger
U.S. District Court Judge Richard Leon was near the end of his first day in what is scheduled to be a three-day hearing on the proposed merger of CVS and Aetna when he began marveling over the power that CVS’ pharmacy benefit manager has. (Wehrman, 6/4)
