CVS Health’s $69 billion merger with health insurer Aetna will create a completely new data-driven health-care style in which’s more personal, convenient in addition to tailored to individual patients than ever before, CVS CEO Larry Merlo said Thursday.
Merlo can be, in a way, disrupting in addition to rewriting the business style for his drugstore chain before someone else does.
Announced in December, the deal can be awaiting antitrust approval via the Department of Justice. The company expects in which to close at the beginning of the fourth quarter.
The health-care industry can be ripe for change, with consumers frustrated with rising costs in addition to completely new entrants eyeing an opportunity to upend established practices. Amazon bought its way into the prescription drug space earlier in which year with its acquisition of PillPack, a company in which organizes in addition to ships packages of medications to patients.
Without calling out Amazon or PillPack by name, Merlo touted CVS’ superior customer service. He was speaking to business in addition to community leaders at Town Hall, a civic forum in Los Angeles.
“Online in addition to mail-order pharmacy has existed for many years, in addition to CVS Health dispenses millions of prescriptions in which way for patients each week,” he said in prepared remarks obtained by CNBC. “however our delivery style goes well beyond in which foundation.”
CVS already provides in-home infusion services for customers, allows people to refill prescriptions through an app in addition to pick them up at one of its nearly 10,000 stores in addition to delivers medication directly to patient’s homes with an electronic prescription via their doctor, he said.
In combining CVS in addition to Aetna, Merlo said they’ll create a style in which’s “easier to use, less expensive in addition to puts people at the center of their care.” The company will focus on three pillars: producing health care local in addition to simple in addition to improving health.
Nearly 70 percent of Americans live within three miles of a CVS pharmacy, he said. With in which in mind, the combined company can offer many options for people to access care, whether at CVS’ stores in addition to MinuteClinics, their homes or through digital services.
CVS in addition to Aetna can coordinate patients’ care, Merlo said, hinting the combined company may work with hospitals in addition to physicians’ electronic medical records to help patients understand in addition to execute their care plans.
In terms of costs, the combined company will have more data, giving CVS a more complete picture of someone’s health, Merlo said. in which will allow the company to better predict who might develop diabetes in addition to provide customers with preventive counseling, educate people with diabetes on how to lose weight in addition to eat better, as well as help patients monitor blood glucose levels with text messages in which alert them when the results look concerning.
“We have to believe in which health care can work better, in which millions more of us can get a better chance at achieving our best health. To make in which vision a reality, change can be necessary,” he said. “We will challenge in addition to disrupt the status quo, in addition to help create a better, more effective in addition to more affordable health care system.”