Foulkes discusses CVS Caremark's integrated business at Wharton Health Care Conference

PHILADELPHIA — CVS Caremark's chief healthcare strategy officer on Friday outlined how the company's integrated offerings — retail pharmacy, pharmacy benefit management and retail clinics — are helping patients achieve better health by working to increase medication adherence and targeting behaviors to improve treatment for chronic diseases during a panel discussion at the Wharton Health Care Business Conference.

At the Wharton Health Care Business Conference, Innovation in a Changing Health Care Environment, Helena Foulkes, EVP and chief healthcare strategy and marketing officer, showed how CVS Caremark is developing innovative programs, such as Pharmacy Advisor, and expanding care for chronic diseases at MinuteClinic locations to provide personalized care that improves patient health outcomes, while working to better manage and reduce overall medical costs. 

Foulkes participated in a panel focused on innovations in wellness and healthcare delivery. She said CVS Caremark has brought together retail pharmacy, retail clinics and PBM services to develop unique pharmacy care products. One example is Maintenance Choice, a program that allows customers to pick up 90-day prescriptions at mail-order costs whether they are shopping at retail or receiving medications through the mail. Foulkes said CVS Caremark also is expanding MinuteClinic because it offers convenient quality care at a fraction of the cost patients pay in other healthcare settings.

"These products and our business are real market innovations that are helping people on the path to better health," Foulkes said. "CVS Caremark has integrated three health care services to create a pharmacy innovation company. Our business model is unique and we reach patients in many different ways. But, if you stand back and look at everything we do — from pharmacists counseling patients about their medications to nurses monitoring patients' chronic diseases — we do more every day to promote wellness than almost any company in the world.”

CVS Caremark employs more than 24,000 pharmacists and nearly 2,000 nurse practitioners and, between retail store and clinic visits and its PBM services, provides pharmacy health care to more than five million people every day.

"We recognize the central role pharmacists play in delivering access to affordable, quality care and we are uniquely positioned to leverage the expertise of pharmacists and nurse practitioners to positively impact health outcomes and reduce costs," Foulkes said.


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Comments

- 7:10 AM
rhammerle says

CVS transformed retail-based clinics from an entrepreneurial start up concept to a national network of branded primary care centers. When they rapidly followed with the Caremark acquisition, they blew past 107 year old Walgreens and challenged the American healthcare industry to think beyond its assumption that healthcare is and will remain a local business. Since then, however, they have not maintained their leadership in the retail clinic field, failing to recognize, as Walgreens did, that the stand alone, start up, nurse practitioner clinic model is not sustainable. Similarly, their alignment with the Cleveland Clinic has yet to deploy what could be a highly innovative model of integrated health services, connecting patients, nurses, physicians and homes electronically to deliver truly world class care at affordable prices. Under Ms. Foulkes' leadership the company may again rise to the forefront of healthcare innovation, as the entire country prepares for the opportunities coming in 2014 and beyond. Ron Hammerle, Chairman Health Resources, Ltd. Tampa, Florida

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