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CVS will open 1,500 HealthHUB stores by the end of 2021, the company announced Tuesday before investors day.
HealthHUBs are refurbished pharmacies that focus more on health products and services and less on candy and greeting cards. CVS opened its first three HealthHUB centers in Houston in February. He plans to open additional locations in Houston, Atlanta, Philadelphia, southern New Jersey and Tampa, Florida by the end of the year.
"We are delighted with the customer feedback we received on HealthHUBs," said Kevin Hourican of CVS Pharmacy Pharmacy in an interview. He added that these stores have seen an increase in traffic in MinuteClinics, an increase in sales at the front of the store and more volumes of prescriptions.
HealthHUBs includes an expanded health clinic, with a laboratory for blood tests and health screenings. There are also Wellness Rooms for Yoga and Seminars, Dietitians and Respiratory System Specialists in the HealthHUBs.
Alan Lotvin, Executive Vice President of CVS Transformation, said the 50 stores that CVS will add this year will include the same features, while those added next year and the following year could be slightly different as the company improves its design. CVS can modify designs for different markets and store sizes. For example, Hourican said stores in the northeastern part of the country tended to be smaller than those in Texas, forcing the company to reduce them.
Like other retailers, CVS has to find a way to keep people in its stores, and health services offer consumers something that they can not buy online.
In May, the company announced its decision to close 46 underperforming stores. Hourican said that it did not provide for "significant" closures. However, he said 500 store leases were to be renewed each year and CVS would review them.
Leaders also believe HealthHUB will help advance CVS's vision for its $ 70 billion acquisition of the $ 70 billion health insurer Aetna. The merged company says it wants to maintain the health of its members and reduce its health care expenses. Chronic disease management in pharmacies will contribute to this goal.
Measuring progress on this front may take longer, Hourican said. The company will closely monitor how its members engage with the services in the stores and determine if this results in behavioral change, clinical outcomes and cost reductions.
"It's really measuring every step of the way, do you get what you hope to get," he said. "When you get the clinical results, you see the cost savings that we've modeled."
The CVS announcement comes as executives attempt to impress analysts and shareholders on their strategic vision during the company's investor day in New York on Tuesday. The company's stock price slid 20% this year. Leaders warned that 2019 would be a challenge between Aetna's integration, regulatory pressure and reduced profitability related to filling prescription drugs.
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