The Chief of CVS Health Wants to Be Part of People’s ‘Everyday Life’
In the last few months, CVS Health has had a pretty decent response to its ads featuring people going about their everyday lives with their eyes closed. CVS Health is a health delivery company. Through the Health Care Flexible Spending Account Program, it lets anyone with health insurance to make contributions to help cover health costs. It is also a pharmacy benefit manager (PBM) and a health insurer.
CVS Health is a “wellness company” and its products have always included weight loss, blood pressure medications, cholesterol-reduction drugs and other health products. But it has started including a new category into its portfolio: “CVS Care Companion,” which is a suite of products based on the company’s CVS Care Plan. These “companion” products include “snacks, supplements, products for kids, personal care products, over-the-counter medications, flu treatments, emergency flu management and flu shots, and flu shots online.”
It’s not every day you hear of a company adopting new products like this. But it is noteworthy that CVS has the “consumer insight” and “customer engagement” to launch this program. This CVS Care Companion product is a part of CVS Care Plan, which is a $2.3 billion business, according to CVS. And CVS has been able to grow this line and increase its customer base by a whopping 600 percent. (Cumulatively, it adds more than 10 million customers each month.)
CVS Care Companion was a new product for CVS Health and, according to a CVS spokeswoman, it was launched due to feedback from CVS customers. The company said in a press statement, “Our customers have been telling us to bring more products back from the shelves that are designed to make CVS Care plans more attractive to consumers. This is an area we have been working on for years, and is just the first step in taking care of customers
