CVS Health said a big boost in enrollment in seniors signing up for Medicare Advantage plans and new “health hub” formats in its stores are helping boost profits
fourth quarter 2019 net income rose to $1.7 billion, or $1.73 per share, compared to a loss in the year-ago quarter. Revenue rose 23% to nearly $66.9 billion.
CVS chief executive Larry Merlo said the new HealthHub formats are seeing increased prescription volume and usage of healthcare services compared to a control group of traditional stores. The HealthHub locations are part of a strategy by CVS to dedicate more than 20% of its stores to health services that include new durable medical equipment, supplies and various new product and service combinations.
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