CVS Health announced plans to its investors to turn 1,500 of their existing retail locations into HealthHUBs, modeling the stores after the successful pilot program they launched in Houston last year.
With more than 20% of the store featuring wellness services such as on-demand health kiosks and personalized care, the goal of these locations is to serve the community to answer questions about prescription drugs, insurance coverage and providing advice on personal health conditions. With it’s recent merger with Aetna, the goal here is beyond just accelerating long term growth in stores but part of a bigger vision to potentially transform the way health care is administered.
CVS warned its investors that this is a long-term play and to expect to see lower revenues as a result of the deal, though its first-quarter numbers did slightly beat expectations.
Starting this year, new HealthHUBS are expected in Houston, the Philadelphia/southern New Jersey region, Atlanta and Tampa, then they will be rolling out the program nationwide with at least 1,500 hubs by 2021.
CVS Health CEO Larry Merlo said that the launch of these healthcare-focused facilities will continue to set a strong foundation for CVS’ future integration goals, focusing on using technology to expand its reach to consumers, which has also included virtual visits to its retail health clinics, MinuteClinic, through its mobile app.