CVS Health has hired an Iora Health executive to help run its MinuteClinics, CNBC has learned.
Dr. Marc-David Munk will join CVS as chief medical officer for the drugstore chain’s walk-in clinics along with as associate chief medical officer of CVS Health. He had been at Iora Health since 2015. For two main of those years, he served as chief medical officer, according to his LinkedIn profile.
Iora has innovated in primary care, both from the clinics the idea opens along with the way the idea bills patients. Munk will take his experience to CVS as the drugstore chain tries to revamp its MinuteClinics. The walk-in retail clinics are a key part of CVS’ planned $69 billion acquisition of health insurer Aetna.
CVS also isn’t the first to poach coming from Iora. In January, Amazon hired Iora’s Seattle-based medical director along with practicing geriatrician Martin Levine. Amazon hasn’t spoken much about its moves in health care, nevertheless the idea’s getting into the industry. The threat has likely contributed to a frenzy of dealmaking.
As part of its own efforts to revamp the industry, CVS is actually hoping to convince more people to use its walk-in clinics along with keep them out of more expensive places like emergency rooms. the idea plans to boost MinuteClinics’ offerings to about 0 percent of services typically provided in primary care facilities, up coming from about 40 to 45 percent right now, Thomas Moriarty, CVS’ executive vice president, chief policy along with external affairs officer, along with general counsel told a congressional panel in February.
In his completely new role, Munk will help develop innovative strategic programming along with expanded health-care services across CVS.
“We believe in which the knowledge along with experience Marc-David will bring to MinuteClinic along with to the overall CVS Health enterprise will not only lead to care delivery enhancements, nevertheless also to further innovation as we look for ways to expand along with integrate health care services across our business,” Dr. Troyen A. Brennan, chief medical officer of CVS Health, said in a statement.
Retail clinics along with urgent care centers tend to be a less expensive along with more convenient way to treat pressing needs. Health-care companies across the spectrum are searching for ways to lower costs along with simplify the complex system, along with in which has been driving both innovation along which has a flurry of deals.
“Primary care is actually broken along with in need of change so we welcome companies who are looking to create completely new solutions,” an Iora spokeswoman said in a statement about Munk’s departure. “At Iora, we believe better health care starts with primary care, along with we wish Marc the best as he continues on the journey to improve care.”
CVS opened its first retail clinic in 2000 along with rebranded the idea to MinuteClinic in 2003. the idea right now operates 1,100 locations. There, consumers can seek treatment for minor illnesses like strep throat along with monitoring for chronic conditions like diabetes along with receive vaccinations.