WOONSOCKET, R.I., Dec. 18, 2013 /PRNewswire/ — At its annual Analyst Day in New York City today, CVS Caremark (NYSE: CVS) outlined its strategies to drive long-term enterprise growth.
“CVS Caremark has an in-depth understanding of the changing health care landscape, including the challenges and opportunities that lie ahead,” said Larry J. Merlo, president and chief executive officer of CVS Caremark. “These changes in the environment are creating opportunities for the company, and our unique combination of ability and agility positions us to capitalize on these opportunities – however they take shape.”
Merlo continued, “We are seeing what we call the ‘retailization’ of health care, which is the rise of consumerism, fueled in large part by the increasing numbers of individuals in consumer-driven health plans. Our response to changes in the environment is to drive purposeful innovation to better meet the changing needs of clients and customers. CVS Caremark has decades of experience in a business-to-consumer as well as a business-to-business environment and we are very well positioned to win share.”
Merlo and other executives emphasized CVS Caremark’s unique business model that focuses on enhancing access, lowering costs and improving health outcomes through the company’s consumer-driven, channel-agnostic solutions that create real value for patients, customers and clients. In addition, the company demonstrated its focus on enterprise growth and underlined its commitment to enhancing shareholder value.
Also during the meeting, a team of company executives outlined key challenges and opportunities emerging in a health care environment that is undergoing its most transformative shift in decades and identified the highest priority initiatives that define the company’s enterprise growth strategy. Among the areas of focus are succeeding in the evolving pharmacy benefit management marketplace, capitalizing on the specialty pharmacy opportunity, driving retail growth through personalization, unlocking adherence through pharmacy excellence and transforming primary care through the expansion of MinuteClinics.
“Looking to the future, our enterprise growth strategy will continue to capitalize on our unique competitive advantages,” concluded Merlo. “We’re focused on winning new lives, whether or not we are the PBM, and on capturing greater share of pharmacy spend across all channels. We will continue to drive operational efficiencies and excellence in execution along with continuous innovation to better meet the changing needs of our customers. With the building blocks of our enterprise strategy in place, we have a strong outlook for 2014 and beyond.”