With the start of Annual Enrollment Period on Monday for Medicare Part D prescription drug plans, CVS/pharmacy has announced that it is ready to help pharmacy patients who are enrolling in Medicare Part D for the first time or want to make a change to their current coverage plan.
While CVS/pharmacy’s store clustering initiatives and store brands are fueling front-store profitability, there’s no doubt that its successful, long-standing ExtraCare loyalty program remains a key driver of front-store sales, and it arms the company with a powerful competitive advantage, especially as CVS looks to take the program to new heights.
CVS Caremark’s front-store business continues to experience solid performance despite a weak economy — success that can be credited to such factors as a skilled merchandising team, a focus on store brands and a clustering initiative that tailors stores’ merchandise mix based on how the stores are shopped in certain locations.
Specialty may be the fastest-growing segment, but it may also be the most complicated, as this segment is comprised of very complex medications to treat such serious diseases as cancer, multiple sclerosis and hemophilia.
On pace to reach about 1,000 clinic locations by 2016 and a robust team of 1,800 nurse practitioners and physician assistants working tirelessly to provide patients convenient access to quality care, MinuteClinic has demonstrated the integral role that it plays not only within CVS Caremark’s healthcare offering but within the entire U.S. healthcare system.
With its sights firmly fixed on delivering innovative solutions that address emerging customer needs that no stand-alone PBM or stand-alone retail pharmacy could provide, CVS Caremark is seeing growing interest in its proprietary programs — or integration sweet spots — known as Maintenance Choice and Pharmacy Advisor.