Operates as an integrated pharmacy health care provider
CVS Health Corp. is integrated pharmacy health care provider in the U.S. The company reinvents pharmacy for better health and develops new ways to improve access for patients, promote better health outcomes and control payor costs in a way that no pharmacy retailer or PBM could do separately.
It operates its business through three business segments: Pharmacy Services, Retail Pharmacy and Corporate.
The Pharmacy Services segment provides a full range of pharmacy benefit management services to its clients consisting primarily of employers, insurance companies, unions, government employee groups, managed care organizations and other sponsors of health benefit plans and individuals throughout the U.S. This segment also provides drug benefits to eligible beneficiaries under the Federal Government's Medicare Part D program.
The Pharmacy Services segment's business operates under the CVS Caremark Pharmacy Services, Caremark, CVS Caremark, CarePlus CVS/pharmacy, CarePlus, RxAmerica and Accordant names.
The Retail Pharmacy segment includes retail drugstores, its online retail pharmacy website, CVS.com, onsite pharmacy stores and its retail health care clinics.
Its retail drugstores are located in various states, including Puerto Rico and the District of Columbia operating primarily under the CVS/pharmacy name.
The CVS/pharmacy stores sell prescription drugs and a wide assortment of nationally advertised brand name and private label merchandise.
The Front store categories include over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards and convenience foods.
The Corporate segment provides management and administrative services to support the overall operations of the company.
The company was founded in 1963 and is headquartered in Woonsocket, RI.