DOCSLIB.ORG

Creating Value by Transforming the Consumer Health Experience

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Creating Value by Transforming the Consumer Health Experience Creating Value by Transforming the Consumer Health Experience Larry Merlo President & Chief Executive Officer Cautionary statement regarding forward-looking statements The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of CVS Health Corporation. By their nature, all forward-looking statements involve risks and uncertainties. Actual results may differ materially from those contemplated by the forward-looking statements for a number of reasons as described in our Securities and Exchange Commission filings, including those set forth in the Risk Factors section and under the section entitled “Cautionary Statement Concerning Forward-Looking Statements” in our most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q. The presentations at our 2019 Investor Day include non-GAAP financial measures that we use to describe our company’s performance. In accordance with SEC regulations, you can find the definitions of these non-GAAP measures, as well as reconciliations to most comparable GAAP measures, on the Investor Relations portion of our website. Link to our non-GAAP reconciliations. 2 Today’s Objectives Strength of our businesses and how they provide a foundation for transformation How we intend to dramatically improve the way health care is delivered in the U.S. Our expectations for 2020 / 2021 and our positioning for long-term growth How current investments will translate into increased shareholder value 3 Agenda Key trends in health care Well positioned to drive change Enterprise priorities to accelerate growth 4 As health care challenges mount, the call for change grows louder 5 Trends driving change in the health care landscape Empowered Migration Changing Evolution of Evolving health care from sick care perspectives personalized payment consumer to self care on aging care models 6 Agenda Key trends in health care Well positioned to drive change Enterprise priorities to accelerate growth 7 Creating the most consumer-centric health company Powerful health Owner economics Recognized and Deep local footprint care decision- enable broader ability trusted brand, of consumer-facing making engine to deliver value supported by large assets including informed by data across enterprise workforce of clinicians retail stores and and analytics and support MinuteClinic® professionals 8 Unmatched ability to engage with consumers – CVS Health interacts with one in three Americans annually In the community In the home In the palm of their hand of U.S. population lives visits1 patients enrolled in ~70% within three miles of a 700K annually 72M text messaging CVS Pharmacy program 9 We are uniquely positioned among managed care peers Competitor Competitor Competitor 1 2 3 Medical benefits Pharmacy benefits Specialty pharmacy Retail pharmacy Unmatched local consumer Retail clinics touchpoints Other providers/services 10 Agenda Key trends in health care Well positioned to drive change Enterprise priorities to accelerate growth 11 1. 2. Grow and Deliver Enterprise priorities to differentiate our transformational accelerate growth businesses products and services Consumer obsessed – be local, make it simple, improve health 3. 4. Create a consumer- Modernize enterprise centric technology functions and infrastructure capabilities 12 PRIORITY #1 Grow and differentiate our businesses Deliver new Drive Introduce Win in and innovative Improve engagement integrated high-growth benefit designs, productivity through products market reimbursement and efficiency personalization and services segments models, and store formats 13 HealthHUBs®: Positive Results Fuel Broader Expansion By the end Expanding to of 2019 4 markets By the end Expecting to open of 2021 1,500 locations 14 PRIORITY #2 Transformation provides multiple growth opportunities Products & Value Creation Operating Income Services Expectations2 Medical cost savings Comprehensive chronic care ~ $850 million and disease management Membership growth in 2022 New consumer facing products Optimize government programs Expanded use of CVS assets ~ $2.5 billion Risk carve-outs long term Increased customer Home hemodialysis satisfaction and retention Analytics products Open platform and new businesses 15 PRIORITY #3 Creating a consumer-centric technology infrastructure Seamless, connected digital Turning data into and physical insights and experiences insights into action Consumer-centric Simplify the experience Improve outcomes Drive efficiency An intelligent engagement platform 16 PRIORITY #4 Integration and Integration Enterprise modernization synergies modernization • Business integration • Technology expected to enhancements • General and deliver administrative functions • Productivity improvements significant • Medical cost savings savings On track to deliver savings of Targeting savings of ~ $900M 2 $1.5B-2.0B2 in 2021 and beyond in 2022 and beyond 17 Enterprise priorities create path to accelerate growth 2022+ Low double digits 2021 Mid single digits 2020 Low single Projected Adjusted digits EPS growth (%)2,3 2019 $6.75 to $6.90 18 Our commitment to shareholders Consistent vision and strategy Relentless focus on execution across the enterprise Disciplined investment decisions and thoughtful portfolio evaluation Delivering superior returns 19 Advancing the Enterprise Driving Profitable Growth as a to Unlock Value Consumer Health Company Eva Boratto Karen Lynch Today’s Building the Most Consumer- Evolving Strategy for a Changing Centric Health Company Marketplace agenda Alan Lotvin, MD Derica Rice Establishing the Foundation Consumer Innovation Driving for Transformation Profitable Growth Jon Roberts Kevin Hourican 20 Endnotes 1. Number of in-home visits includes visits by Coram, Aetna, and vendor nurses or other care team members to homes or other community settings. 2. Currently enacted laws and regulations were used in all the Company’s projections. 3. This financial measure is a non-GAAP financial measure. For an explanation of this financial measure and a reconciliation to the most directly comparable GAAP measure, refer to our Investor Relations website at https://www.investors.cvshealth.com. 21 Advancing the Enterprise to Unlock Value Eva Boratto Executive Vice President & Chief Financial Officer Continued focus on enhancing long-term shareholder value Optimizing capital allocation Generating significant cash flow from operations Launching transformative products Sustainable long-term Steps of value creation growth to drive long-term growth 2 Agenda 2019 guidance review Value creation through integration synergies, modernization & transformation Financial outlook & capital allocation strategy 3 Enterprise Outlook: 2019 full year1 Reaffirming all elements of 2019 guidance ($ in billions, except per share data) Consolidated Revenues $251.2 to $254.4 Adjusted Operating Income3 $15.0 to $15.2 GAAP Diluted EPS $4.90 to $5.05 3 Adjusted EPS $6.75 to $6.90 Cash Available to Repay Debt3 $4.2 to $4.6 4 Agenda 2019 guidance review Value creation through integration synergies, modernization & transformation Financial outlook & capital allocation strategy 5 1 1. INTEGRATION SYNERGIES Executing on integration synergies to reach ~$900M run rate ~$900M Business integration ~$800M . Plan design . Specialty / Coram / PBM Operations / Other General & administrative functions . Vendor contracting $300-$350M . Streamline corporate functions Medical cost savings . Improve adherence and close gaps in care for patients with chronic diseases . Optimize existing programs in readmission prevention 2019P 2020P Run Rate . Site of care management 2021P+ Business General & Medical integration administrative cost savings functions 6 2. ENTERPRISE MODERNIZATION Generating net savings with enterprise modernization Areas of net savings • Technology modernization 1 $1.5B-$2.0B − Rationalization − Centers of excellence • Productivity improvements 1 − Optimize call centers $900M-$1.1B − Vendor management − Business initiatives 1 $400M-$600M Projected costs to achieve • Operating expenses 1 − $200M-$300M annually through 2022 2020P 2021P Run Rate 2022P Modernization net savings are incremental to previously disclosed cost reduction programs 7 3. TRANSFORMATION Driving long-term value through transformation Medical cost Membership Expanded use of Increased customer Open platform savings growth CVS assets satisfaction and and new retention businesses Commercial insured Plan sponsors Pharmacy Improving the Payor agnostic consumer experience solutions Medicare Advantage Medicare Advantage MinuteClinic® members Data and Front of store analytics products Coram New businesses Medicare Advantage quality improvement Projected to drive ~$850M of incremental operating income in 2022, growing to ~$2.5B long term1 8 Substantial long-term value creation through strategic initiatives & consumer-centric products $1.5B - $2.0B ~$900M ~$850M Projected to drive a run rate of ~$3.5B in operating income in 20221 1. Integration 2. Enterprise 3. Transformation synergies modernization 9 Agenda 2019 guidance review Value creation through integration synergies, modernization & transformation Financial outlook & capital allocation strategy 10 Balancing near-term execution with long- term vision 1 2 3 4 5 6 Mitigate Execute Focus on Refine and Optimize Enhance headwinds streamlining integration roll out new enterprise shareholder and expense process and front doors to portfolio and returns through reduction exceed synergy health care evaluate asset disciplined
Load more

Recommended publications
  • 2008 Aetna Corporate Involvement and Aetna Foundation Grant List
    2008 Aetna Corporate Involvement and Aetna Foundation Grant List Organization City State Project Title Amount 100 Black Men of Houston Bellaire TX For the Health of it Program$ 10,000 100 Black Men of America, Inc. Atlanta GA Healthy Living - Community Empowerment Project$ 25,000 100 Black Men of Atlanta Atlanta GA Health and Wellness Initiative$ 100,000 100 Black Men of Greater Washington, DC Washington DC Healthy Minds and Bodies for Greater Washington, DC$ 25,000 Game On! The Ultimate Wellness Challenge Action for Healthy Kids Skokie IL in Five Houston Schools $ 30,000 After-School Matters, Inc. Chicago IL 2008 Annual Gala$ 10,000 AIDS Arms, Inc. Dallas TX LifeWalk$ 10,000 Hablando de la Salud de la Mujer Alamo Public Telecommunications Council San Antonio TX $ 20,000 (Speaking of Women's Health) Albert Einstein Healthcare Network Philadelphia PA Teens Learning to Cope$ 10,000 Alianca Brasileira nos Estados Unidos - Hartford CT NEST: Network, Educate, Serve, and Track$ 10,000 The Brazilian Alliance Alief ISD Education Foundation Houston TX Golf Tournament$ 15,000 Alliance For Health Grand Rapids MI 2008 Health Expo$ 6,000 Alzheimer's Association, Alzheimer's Family Services Program - Camarillo CA $ 35,000 California Central Coast Ventura County Early-stage Alzheimer's Alzheimer's Drug Discovery Foundation New York NY $ 313,357 Drug Discovery Research Fund Annual Conference of the Gay and American Association of Physicians for Human Rights San Francisco CA $ 50,000 Lesbian Medical Association American Cancer Society Austin TX 2008 Cattle Baron's Ball$ 5,000 American Cancer Society Inc. Hershey PA Relay For Life$ 5,000 American Cancer Society Inc.
    [Show full text]
  • CVS Health Announces COVID-19 Resources for Aetna Members
    CVS Health announces COVID-19 resources for Aetna members In response to the rapidly evolving COVID-19 outbreak, CVS Health announced a series of steps designed to support the health and well-being of Aetna members, ensure patient access to medication, and remove barriers to care. Effective immediately: Aetna will waive co-pays for all diagnostic testing related to COVID-19. This policy will cover the cost of physician-ordered testing for patients who meet CDC guidelines, which can be done in any approved laboratory location. Aetna will waive the member costs associated with diagnostic testing for all Commercial (including small group Aetna Funding Advantage, AFA), Medicare and Medicaid lines of business. Self-insured plan sponsors will be able to opt-out of this program at their discretion. For the next 90 days, Aetna will offer zero co-pay telemedicine visits for any reason. Aetna members should use telemedicine as their first line of defense in order to limit potential exposure in physician offices. Cost sharing will be waived for all virtual visits through Aetna-covered Teladoc® offerings and in-network providers delivering synchronous virtual care (live videoconferencing) for all Commercial plan designs, including small group Aetna Funding Advantage. Self-insured plan sponsors will be able to opt-out of this program at their discretion. CVS Pharmacy will waive charges for home delivery of prescription medications. With the Centers for Disease Control and Prevention encouraging people at higher risk for COVID-19 complications to stay at home as much as possible, this is a convenient option to avoid coming to the pharmacy for refills or new prescriptions.
    [Show full text]
  • TC-017 Butterfield, Dawn (National Community Pharmacy Association)
    Peter Mucchetti, Chief Healthcare and Consumer Products Section, Antitrust Division Department of Justice 450 Fifth Street NW, Suite 4100 Washington, DC 20530 December 13, 2018 Dear Judge Leon: Thank you so much for inviting or allowing comments on the proposed CVS/Aetna merger. We (pharmacy owners/pharmacists) were not happy when our own organization - NCPA - National Community Pharmacy Association was referenced in the Congressional Hearing on this merger earlier in the year that "we were fine" with the merger as expressed by Tom Moriarty - CVS General Counsel to the Congressional Committee. This most assuredly is NOT the case I can assure you. However that was communicated - and not clarified by our association is an issue we are all still highly upset about as I believe that was the time to publicly state our vehement opposition to this merger. In other words, a major ball was dropped and a bell was rung that couldn't be unrung. That being said - we, as business owners and professionals don't know how we can state our issues - which are numerous and we were being told by virtually everyone that the merger is a "done deal" as the FTC and DOJ didn't have an issue with it. I hope you receive communication from people who took the time to do so. Some people are frozen and/or feel defeated as they believe there's nothing to stop this train and have given up. I can say with certainty that for every letter from a pharmacist/pharmacy owner/pharmacy professor - there were 1000 that went along with it! I'm enclosing some material you may already have, but the infographic on the states shows to the extent of what can happen when your competition sets YOUR price.
    [Show full text]
  • Carrier Codes
    CARRIER CARRIER PHONE CODE CARRIER NAME NUMBER CARRIER ADDRESS CITY STATE ZIP CODE 326 1199 NATIONAL BENEFIT FUN (646) 473-7160 PO BOX 1034 NEW YORK NY 10108-1034 589 1199 SEIU NATIONAL BENEFI (888) 819-1199 330 WEST 42ND STREET NEW YORK NY 10036 28 AARP HEALTH ADVANTAGE HEA (800) 227-7789 PO BOX 740819 ATLANTA GA 30374-0819 D6K AARP MEDICARE COMPLETE PL PO BOX 66773 ST LOUIS MO 63166 D6P AARP MEDICARE COMPLETE PL (800) 393-0939 950 WINTER ST SUITE 3800 WALTHEM MA 02451 D8T AARP MEDICARE RX PREFERRE (888) 867-5575 PO BOX 29300 HOT SPRINGS AR 71903 D9H AARP MEDICARE RX PREFERRE 600 NEW LONDON AVE CRANSTON RI 02920 D9L AARP MEDICARE RX SAVER 600 NEW LONDON CRANSTON RI 02920 D8V AARP MEDICARERX SAVER (PD (888) 867-5575 PO BOX 29300 HOT SPRINGS AR 71903 D4Q ABRAZO ADVANTAGE 7878 NORTH 16TH STRE SUITE 105 PHOENIX AZ 85020 301 ACADIA INSURANCE CO. (888) 786-1170 PO BOX 9168 MARLBOROUGH MA 01752 390 ACE INTERNATIONAL INSURAN (800) 262-8028 PO BOX 15417 WILMINGTON DE 19850 470 ACE USA (860) 731-6800 PO BOX 5001 HARTFORD CT 06102-5001 30 ACORDIA BENEFIT SERVICES PO BOX 18197 COLUMBUS OH 43218 346 ACS HEALTH NET - NORTHEAS (800) 441-5741 PO BOX 14700 LEXINGTON KY 40512 768 ADMINISTRATION CONCEPTS ( (800) 226-5116 994 OLD EAGLE SCHOOL ST E1 WAYNE PA 19087 795 ADMINISTRATIVE CONCEPTS, (888) 293-9229 994 OLD EAGLE SCHOOL SUITE 1005 WAYNE PA 19087-1802 101 ADMINISTRATIVE ENTERPRISE (602) 789-1101 3404 WESTCHESTER DR PHOENIX AZ 85051-9588 267 ADMINISTRATIVE SERVICE CO (800) 634-8816 3301 E.
    [Show full text]
  • Posted on May 5, 2021 Sites with Asterisks (**) Are Able to Vaccinate 16-17 Year Olds
    Posted on May 5, 2021 Sites with asterisks (**) are able to vaccinate 16-17 year olds. Updated at 4:00 PM All sites are able to vaccinate adults 18 and older. Visit www.vaccinefinder.org for a map of vaccine sites near you. Parish Facility Street Address City Website Phone Acadia ** Acadia St. Landry Hospital 810 S Broadway Street Church Point (337) 684-4262 Acadia Church Point Community Pharmacy 731 S Main Street Church Point http://www.communitypharmacyrx.com/ (337) 684-1911 Acadia Thrifty Way Pharmacy of Church Point 209 S Main Street Church Point (337) 684-5401 Acadia ** Dennis G. Walker Family Clinic 421 North Avenue F Crowley http://www.dgwfamilyclinic.com (337) 514-5065 Acadia ** Walgreens #10399 806 Odd Fellows Road Crowley https://www.walgreens.com/covid19vac Acadia ** Walmart Pharmacy #310 - Crowley 729 Odd Fellows Road Crowley https://www.walmart.com/covidvaccine Acadia Biers Pharmacy 410 N Parkerson Avenue Crowley (337) 783-3023 Acadia Carmichael's Cashway Pharmacy - Crowley 1002 N Parkerson Avenue Crowley (337) 783-7200 Acadia Crowley Primary Care 1325 Wright Avenue Crowley (337) 783-4043 Acadia Gremillion's Drugstore 401 N Parkerson Crowley https://www.gremillionsdrugstore.com/ (337) 783-5755 Acadia SWLA CHS - Crowley 526 Crowley Rayne Highway Crowley https://www.swlahealth.org/crowley-la (337) 783-5519 Acadia Miller's Family Pharmacy 119 S 5th Street, Suite B Iota (337) 779-2214 Acadia ** Walgreens #09862 1204 The Boulevard Rayne https://www.walgreens.com/covid19vac Acadia Rayne Medicine Shoppe 913 The Boulevard Rayne https://rayne.medicineshoppe.com/contact
    [Show full text]
  • 13500206 5.35%
    ANCHORAGE, AK 16 Year NNN Walgreens ■ True NNN Lease with 16 Years ■ Avg HH Income is $90,000+ Within 5 $13,500,206 Guaranteed Rent Miles ■ Excellent Store Sales ■ Alaska Has No State Income Tax ■ One of the Best Corners in All of Alaska ■ Walgreens Corporate Credit Guarantees the Rent 5.35% CAP (888) 258-7605 John Giordani [email protected] Art Griffith offering memorandum INVESTMENT SUMMARY 725 E NORTHERN LIGHTS BLVD | ANCHORAGE, AK 99503 WALGREENS #13656 $13,500,206 5.35% $722,261 16 PRICE CAP ANNUAL RENT YRS. GUARANTEED This prototypical freestanding Walgreens has been open and operating for nearly 10 years, and boasts extremely strong reported sales volumes … not surprising considering that Walgreens has DEMOGRAPHICS the entire Anchorage market to themselves, as no national drugstores such as CVS/pharmacy or 1 Mile 3 Mile 5 Mile Rite Aid have operations in Alaska. This Walgreens store sits on a prime, high traffic intersection and is arguably one of the best corners in all of Alaska. This site also offers the rarely found combination Population 13,242 97,974 201,433 of population density coupled with affluent demographics. Average household incomes here are in excess of $91,000. Alaska has no state income tax, an additional benefit to investors. Avg. HH Inc. $82,484 $85,564 $91,970 John Giordani (888) 258-7605 Art Griffith [email protected] 2 PROPERTY OVERVIEW PROPERTY DETAILS Address: 725 E Northern Lights Blvd Year Built: 2010 Building Size: 14,550 SF Lot Size: 1.39 Acres Tenant: Walgreens LEASE SUMMARY Lease Type: NNN Rent Start Date: 10/3/2011 Firm Term End Date: 10/2/2036 Termination Options: Options: 3 x 5 year rights of cancellation, with 1-year rights following.
    [Show full text]
  • Say Goodbye to Unnecessary ER Visits Participating Urgent Care Clinics
    Quality health plans & benefits Healthier living Financial well-being Intelligent solutions Say goodbye to unnecessary ER visits Participating Urgent Care Clinics Make ER waits a thing of the past See the savings Of course, it’s second nature for many of us to hit the If you’re like many Americans, out-of-pocket costs like emergency room (ER) if we’re suddenly sick or injured — a deductibles or copays are a part of your world. But the far sound idea, in many cases. But what if you have an urgent, lower cost you’ll pay for participating urgent care visits will but non-life-threatening, medical issue like a broken arm feel like instant relief. Take a look at what you may save: or ankle sprain?* A hefty ER wait time, and an even heftier hospital bill, might not be your best option. In fact, quicker, Average more affordable and more convenient treatment is closer Non-emergency Average urgent care than you think: your local urgent care center. service ER cost1 cost1 Many of these health care spots are open seven days a Sprains $550 – $750 $110 – $150 week — even nights, weekends and holidays — with no appointments necessary. That makes them a convenient Influenza $550 – $750 $110 – $150 option for common ailments and accidents you’d typically visit the ER for. With over 3,000 of these centers to choose Minor lacerations $550 – $750 $110 – $150 from, you’re sure to find one near you. And your savings can really add up. Headaches — $550 – $750 $110 – $150 migraine and tension **It is best to call your own primary care doctor first when faced with a non-life-threatening condition.
    [Show full text]
  • CVS Health Code of Conduct 1 CVS Health Code of Conduct 2 What We Stand For
    Code of Conduct Dear CVS Health® Colleagues Over the years CVS Health has built an outstanding reputation with our customers, colleagues and key stakeholders. Our reputation for superior customer service and excellence in execution, coupled with our high level of integrity and sound business practices have helped us build a solid foundation of trust. This foundation is a valuable asset that has taken years to build, and is vital to our long-term success. As we look toward the future, we remain steadfast in our commitment to doing the right things in the right way, complying with laws and regulations and never compromising our standards. As you go about your day-to-day work and deal with challenging issues, I encourage you to refer to our Code. The Code was designed to help establish appropriate “rules of the road” for colleagues looking for the right solutions to ethical questions or issues and in obtaining additional guidance when the correct path is not clear. Each of your decisions and actions shape our reputation at CVS Health. That is why we must all commit to act with integrity while meeting our responsibilities. The Code is an excellent guide to doing the right thing, but it is not a substitute for good judgment, nor can it address every issue. So where there is no written rule or precedent, decisions need to be consistent with our company’s Purpose, Strategy and Values, which represent our guiding principles as an organization. In doing so we will continue to earn the trust that our stakeholders have placed in us.
    [Show full text]
  • CVS Health Faces a New Wave of Disruption
    The current issue and full text archive of this journal is available on Emerald Insight at: https://www.emerald.com/insight/1750-6123.htm CVS Health faces a new wave CVS Health of disruption John M. York Rady School of Management and Jacobs School of Engineering, University of California San Diego, La Jolla, California, USA and 333 Ernest Mario School of Pharmacy, Rutgers University, Piscataway, Received 30 January 2020 New Jersey, USA, and Revised 24 August 2020 Kaley Lugo, Lukasz Jarosz and Michael Toscani Accepted 4 February 2021 Ernest Mario School of Pharmacy, Rutgers University, Piscataway, New Jersey, USA Abstract Purpose – The purpose of this teaching case study is to change to examine how Amazon’sthreatmay impact the pharmacy industry as a whole and whether traditional drugstore chains such as Consumer Value Stores (CVS) Health will need to re-think their business strategy, especially in the digital space, to account for potential disruption. Design/methodology/approach – This paper presents a hypothetical case study used as a teaching exercise to guide the learner through a decision-making process. The case starts by presenting a disruption in the retail pharmacy business that the main character must navigate by using real-world data and insights, provided in the case, to formulate a recommendation. Findings – In an extremely competitive and consolidated pharmacy market, Amazon has the potential to change the business entirely. CVS Health will potentially face strong headwinds from Amazon’s PillPack and a downward trend in prescription sales. Regardless of the new competition, CVS Health continues to be innovative in the space.
    [Show full text]
  • Where to Buy US
    STATE CITY RETAIL ADDRESS AK FAIRBANKS WALGREENS DRUG STORE 1350 SPORTSMAN WAY AK KENAI WAL-MART 10096 KENAI SPUR HWY AK EAGLE WAL-MART 18600 EAGLE RIVER RD AK ANCHORAGE WAL-MART 3101 A ST AK FAIRBANKS WAL-MART 537 JOHANSEN EXPY AK JUNEAU WAL-MART 6525 GLACIER HWY AK ANCHORAGE WAL-MART 7405 DEBARR RD AK ANCHORAGE WAL-MART 8900 OLD SEWARD HWY AR W MEMPHIS WALGREENS DRUG STORE 1800 N MISSOURI ST AZ PHOENIX CVS PHARMACY/REVCO 10 E DUNLAP AVE AZ PARADISE VALLEY CVS PHARMACY/REVCO 10010 N SCOTTSDALE RD AZ CHANDLER CVS PHARMACY/REVCO 1015 E RAY RD AZ SCOTTSDALE CVS PHARMACY/REVCO 10160 E BELL RD AZ TUCSON CVS PHARMACY/REVCO 10650 N ORACLE RD AZ SCOTTSDALE CVS PHARMACY/REVCO 10653 N SCOTTSDALE RD AZ PHOENIX CVS PHARMACY/REVCO 10707 W CAMELBACK RD AZ SUN CITY CVS PHARMACY/REVCO 10720 W BELL RD AZ PEORIA CVS PHARMACY/REVCO 10727 W OLIVE AVE AZ MESA CVS PHARMACY/REVCO 1137 S DOBSON RD AZ YUMA CVS PHARMACY/REVCO 11464 S FORTUNA RD AZ COTTONWOOD CVS PHARMACY/REVCO 1179 S HIGHWAY 260 AZ MESA CVS PHARMACY/REVCO 1212 S GREENFIELD RD AZ PHOENIX CVS PHARMACY/REVCO 12409 N TATUM BLVD AZ PHOENIX CVS PHARMACY/REVCO 125 S 67TH AVE STE 1 AZ PARKER CVS PHARMACY/REVCO 131 W RIVERSIDE DR AZ SURPRISE CVS PHARMACY/REVCO 13870 W GREENWAY RD AZ TEMPE CVS PHARMACY/REVCO 1424 W BASELINE RD AZ SCOTTSDALE CVS PHARMACY/REVCO 14672 N FRANK LLOYD WRIGH AZ PHOENIX CVS PHARMACY/REVCO 1525 N CENTRAL AVE AZ SURPRISE CVS PHARMACY/REVCO 15300 N COTTON LN AZ SURPRISE CVS PHARMACY/REVCO 15474 W GREENWAY RD AZ YUMA CVS PHARMACY/REVCO 1555 S AVENUE B STE B AZ PHOENIX CVS PHARMACY/REVCO
    [Show full text]
  • CVS Health Corporation Corporate Integrity Agreement
    CORPORATE INTEGRITY AGREEMENT BETWEEN THE OFFICE OF INSPECTOR GENERAL OF THE DEPARTMENT OF HEALTH AND HUMAN SERVICES AND CVS HEALTH CORPORATION I. PREAMBLE CVS Health Corporation and its subsidiaries (collectively, “CVS Health”) hereby enters into this Corporate Integrity Agreement (CIA) with the Office of Inspector General (OIG) of the United States Department of Health and Human Services (HHS) to promote compliance with the statutes, regulations, and written directives of Medicare, Medicaid, and all other Federal health care programs (as defined in 42 U.S.C. § 1320a-7b(f)) (Federal health care program requirements). CVS Health is an integrated pharmacy services health care provider engaged in certain business lines that do business with Federal health care programs. Except as otherwise specified herein, the terms of this CIA shall apply to Omnicare, Inc. and its operating subsidiaries, which is CVS Health’s business line of institutional pharmacy services operations (“IPS Operations”), as defined in Section II.C.1, below. Effective August 18, 2015, CVS Health acquired Omnicare, Inc. Contemporaneously with this CIA, Omnicare, Inc. is entering into a Settlement Agreement with the United States. In consideration of the obligations of CVS Health in this CIA and the obligations set forth in the settlement agreement entered into among the United States of America, acting through the United States Department of Justice and on behalf of the OIG-HHS; Omnicare, Inc.; NCS Healthcare, LLC; NeighborCare, Inc.; and Relators Donald Gale and Marc Silver on June 25, 2014 (hereinafter “2014 Omnicare Settlement Agreement”), OIG agrees to release and refrain from instituting, directing, or maintaining any administrative action seeking exclusion from Medicare, Medicaid, and all other Federal health care programs (as defined in 42 U.S.C.
    [Show full text]
  • Net Lease Pharmacy Report March 2018
    Net Lease Pharmacy Report March 2018 NET LEASE PHARMACY INDUSTRY OVERVIEW CVS and Walgreens are the market leaders in the U.S. drugstore industry accounting for more than half of the market share in top metropolitan areas. Over the years, drugstores have evolved into all- encompassing health service providers and as a result have strategically positioned themselves to diversify their portfolios by acquiring key competitors and forging partnerships to protect themselves from growing online threat. Industry demand is driven by an aging population, health issues, and ad- vances in medical treatment. Drugstores rely heavily on their prescription business, which has grown over the years, however same store comparables for front of store sales have decreased. Total 2017 retail sales for prescription drugs filled at pharmacies surpassed $397B* and are speculated to have been upwards of $426B. *Data based on QuintilesIMS National Prescription Audit (NPA) database. Includes new prescriptions and refills of both brand/generic. Source: Kaiser Foundation Definitions Pharmacy Benefits Managers (PBM): Third party companies that provide healthcare management and administration services to insurance companies, Medicare Part D plans, state government employee plans and corporations. e.g. CVS Caremark, Express Scripts. PBMs lever- age economies of scale by negotiating drug prices with drug makers and pharmacies on behalf of larger groups of customers. Chad M. Firsel Daniel Waszak Jason Caplan Zack Hilgendorf Jack Farritor President Senior Vice President Senior Vice President Vice President Vice President 312.269.0220 312.269.0550 312.533.2347 312.533.2348 312.683.9924 [email protected] [email protected] [email protected] [email protected] [email protected] Quantum Real Estate Advisors, Inc.
    [Show full text]