CVS Health From health, beauty, and drug stores to a leader in healthcare services
CVS Health’s Digital Transformation doesn't stop services only but it's about connecting at on-site appointments or using online provide member and wellness. digital pharmacy capabilities to more access and more choice using Artificial Intelligence (AI) to improve the experience and position CVS.com as a destination for people's health and wellness.
Consumer Value Stores (CVS) established in 1965
Started the business as a retail network selling health and beauty products. Four years later, it started a pharmacy.
In 1996, CVS listed on the New York Stock Exchange
after that, it acquired many businesses such as
Revco, the largest acquisition in the history of the retail pharmacy industry in the United States
Arbor Drugs
Eckerd Stores, Eckerd Health Services, Eckerd’s mail order pharmacy
Osco, Sav-on
MinuteClinic
Longs Drug
Peoples Drug
Coram
Navarro Discount Pharmacy
Omnicare
Target's pharmaceutical and clinical business
In 2018, CVS Health acquired health insurer Aetna for $69 billion. This is the beginning of the transformation into a leader in healthcare services
CVS Health & Aetna is a combination of large pharmacies and retail with pharmaceutical, insurance, and healthcare professional benefits together to offer healthcare innovations with integrated services and touchpoints.
The deal also created a large pool of information
so that everything can be coordinated in every part of health care effectively resulting in valuable use of data and analytics, reducing hospital visits by offering services Better tracking and personalization of services.
CVS & Aetna will provide analytics and data across all segments of healthcare
5 Key Transformation Strategies
Driven by a more consumer-centric culture than ever
1. Develop the ability to deliver services
2. Transform retail locations into community health destinations
3. Diversify growth with new health services, such as using digital to help people manage their treatment schedules, connect with doctors and receive quality and affordable care
4. Driven by ideas Digital-First and support the use of technology throughout the organization
5. Create an omnichannel health experience, offering a wider range of options and services in-store in people's homes and in the virtual world by integrating health technology and omnichannel solutions
Decode CVS Health step-by-step business transformation with 9 boxes of Digital Transformation Canvas
