So we all know they aren't telling us the truth about anything and that there is some grand plan in place which is probably more long term and this is just the beginning - but what are your theories on this? I was thinking maybe CVS' wants to just get out of the pharmacy business completely and only focus on healthcare and insurance, or only healthcare and get rid of the insurance part too. Or maybe they are going to see the entire company. I feel like they are going to slowly phase things out and lots of lay offs but obviously wont tell people so they wont quit too early. I feel like that is why they are currently laying off and telling some areas that they are safe - and some areas have to be staffed - but they seem to not care at all that nothing is being done correctly because of horrible staffing, no concern for the customers, employees, vendors, plan sponsors etc. Almost like they are saying hey - doesnt matter if we mess up royally because in a few months this is all gone anyway - or something to that effect. I really have no clue what is actually going on but i know there is a plan. What's everyone's guess on what the goal is long term for the company??
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"get rid of staff, bring in young fresh new idea type of people to automate stuff as much as possible. While Automation as been a priority, I don't think it was happening quick enough for management. AI is what they're looking at. They forget that you still need actual bodies as all they care about is making the shareholders happy and cutting costs to improve the bottom line. Insurance and healthcare should not be a publicly traded company......"
AI US Staff all the Rest is sent offshore. Maybe me the HQ out of the country too.
Contract Very Slowly
get rid of staff, bring in young fresh new idea type of people to automate stuff as much as possible. While Automation as been a priority, I don't think it was happening quick enough for management. AI is what they're looking at. They forget that you still need actual bodies as all they care about is making the shareholders happy and cutting costs to improve the bottom line. Insurance and healthcare should not be a publicly traded company......
There are schemes in place. The retail pharmacy business is becoming a “health delivery business”. There will be incentives that drive unwitting members to the health hubs. Signify will reinforce Medicare Advantage upcoming. They want to be “too big to fail”. I don’t think that is happening. The transition will be perilous and may very well not work. The next big event is abandonment of the PBM model.
Funny that they bought Aetna to stop the Amazon effect. Obviously that didn't work. After the news of the BCBS in California business loss I see more and more companies finding alternatives to CVS.
The idea that scale, or size, matters in obtaining lower dr-g costs has certainly come into question with this AMZN/Mark Cuban deal.
AI is US Staff replacement, Aetna is finished so is CVS, they want out of both Insurance and Pharmacy. Health Service is the way they are going. 1 problem Amazon has already decided they will ki-l every competitive company against them. Amazon will be your one stop for everything absolutely everything.
Their only viable plan is to die slowly while Amazon tears them apart like a lion does to a Buffalo.
Look for new jobs now. Layoffs will continue.
CVS Pharmacy: Shut down (or at least massively descale) front store. Keep pharmacy retail footprint. Replace front store with primary care.
PBM/Caremark also needs a massive remake of its biz model.
If that's her plan we're all fu---d.
I think eventually CVS will move completely to mail order pharmacy with centralized location(s) to fill/ship RXs and use automation/AI to do so. Brick and mortar retail is a dying industry. No need to have so many pharmacists or techs or shrinkage from shoplifting at stores. Maybe they convert their existing stores in key markets to primary care clinics.
Aetna is a money maker, so that's not going anywhere. They will try to use bots and AI to eliminate as many jobs as possible, customer service, claims, audit, appeals. This is the big "once in a generation" technological investment they keep referring to.
I suspect they imagine home health care will be the best competition against Amazon. Maybe they'll keep the pharma part for specialty and hhc infusion treatment . But who knows?!
Agree retail is going to be phased out completely, Pharmacy will be a very small piece of the pie. Primary care is the direction she is wanting to go. Particularly for medicare patients. All she talks about is home health. Signify has 10,000 doctors and nurse practitioners that go into medicare patients homes to do primary care. With the baby boomers flooding the market she wants that market.. signify staff, can test, treat, order meds, which will be delivered by cvs mail order pharmacies.Signify has the ability to do labs, EKGs, bone density testing, really everything that isn't invasive, in the home, There's a reason she paid 8 billion for that company. Followed by Oakstreet which also does primary care for seniors in clinics. She paid 10 Billion for that. She's heading CVS into a complete different direction. Pharmacy and insurance are no longer her interest. She's going into primary care. The minute clinics are now doing primary care as well. Managing chronic conditions normally managed by a PCP.