Description

CVS Health Corporation stands as a key provider of health services across the United States. Its operations are segmented into three main areas. The Health Care Benefits division delivers a spectrum of health insurance products, encompassing traditional, voluntary, and consumer-driven options, along with associated services. Its client base is broad, covering employer groups, individuals, students, hourly workers, healthcare plans, providers, governmental bodies, labor unions, and international assignees. The Pharmacy Services segment primarily manages pharmaceutical benefits, which includes everything from plan design and formulary oversight to retail network management, alongside providing mail-order, specialty, and infusion pharmacy services. It also encompasses clinical support and management of disease and medical expenditures. Clients range from employers and insurance carriers to unions, government entities, and individuals enrolled in diverse health and prescription drug plans, including those on public and private exchanges. This segment operates a network of retail specialty pharmacies, mail-order dispensing facilities, compounding pharmacies, and infusion/enteral nutrition branches. The Retail/LTC segment operates retail locations offering prescription and over-the-counter medications, health and beauty products, and personal care essentials. Additionally, it provides accessible healthcare services through its MinuteClinic walk-in clinics. For the long-term care sector, it distributes prescription drugs and offers pharmacy consulting alongside other support services to care facilities. By the end of 2021, CVS Health boasted approximately 9,900 retail stores, 1,200 MinuteClinic sites, a robust online pharmacy presence, and numerous LTC and onsite pharmacies. Founded in 1963 and headquartered in Woonsocket, Rhode Island, the company transitioned to its current name, CVS Health Corporation, in September 2014, previously operating as CVS Caremark Corporation.