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In a , leaders provided an update about how they are executing their growth strategy and forging stronger consumer ties.

• The company plans to spend $3 billion on digital enhancements to improve the consumer experience at its locations.
• CVS Health’s , a paid membership that offers free delivery of eligible prescriptions from its pharmacies and other perks, now has 5.6 million subscribers, a 40% jump from last year.
• Nearly 80% of patients are using CVS’ self-service digital tool to complete necessary forms ahead of their appointments at its and facilities.

These data points, however, only scratch the surface of just how aggressive and ingrained CVS has become in health care. CVS Health is now the second-largest health care company in the world, with a $141 billion market cap, according to an .

Aside from its pharmacies and walk-in clinics, CVS also is a pharmacy benefits manager and a health insurance company. In recent years, the company has built dozens of strategic business partnerships, invested in startups and acquired a number of companies to complement its core offerings. It also launched a $100 million venture fund targeting early stage health tech companies.

5 Strategic Priorities of CVS Health

With all this activity, one might wonder where CVS Health’s strategic priorities lie. CB Insights analysts reviewed its own data to answer this question, identifying these five areas:

The 3 CVS Health Strategies You Should Watch Closely

While these areas encroach on hospital and health system markets, care coordination and chronic-disease management, health IT and home health especially bear watching as the nation’s health system continues to transform. Here’s a brief update on CVS Health’s activities in these areas.

1 | Care Coordination and Chronic Disease Management

Through partnerships and investments in disease management startups and social factors of health solutions, CVS is rapidly expanding its capabilities.

 Key Moves 

• Diabetes care management. Earlier this year, CVS Health’s insurance business formed a strategic partnership with virtual diabetes care startup through a joint venture with . The collaboration gives certain Aetna members access to Virta’s diabetes care management program, which combines remote monitoring with nutrition management.
• Pharmacy benefits management. CVS also has partnered with to support CVS Health’s program. This program helps the retailer’s pharmacy benefit-management clients achieve better health outcomes through improved medication adherence, A1C control and lifestyle management.
• Chronic disease management. CVS participated in a $7 million Series A funding round for , a patient social network platform for patients with chronic diseases.
• Social factors influencing health. CVS Health Ventures has backed startup , which builds coordinated care networks to connect health care and social service providers. UniteUs plans to expand its network to all 50 states by year-end.

2 | Health IT

This increasingly has become an area of interest for CVS Health through its venture capital arm.

 Key Moves 

• Most recently, CVS’ subsidiary Aetna Ventures participated in a $50 million seed round for Avaneer Health, whose platform facilitates payer-to-payer data exchange, eligibility and prior authorization.
• CVS has invested in HealthEdge, a startup that provides core administrative processing solutions and , which offers health plan provider-network management and software solutions.
• . CVS Health has acquired NovoLogix, which helps health plans manage pharmacy spend through a clinical decision-support tool for prior authorization.

3 | Home Health

CVS has been increasing its presence in home health as have its competitors Amazon, Walmart and Walgreens.

 Key Moves 

• Clinically complex patients. Since 2020, CVS Health’s Aetna has partnered with three startups providing home-based health services: , and . Elemy offers in-home online therapy for pediatric patients with behavioral health conditions. Landmark Health targets patients with chronic health conditions, providing in-person house calls and telemedicine visits. WellBe Senior Medical delivers home-based medical care to seniors with multiple health conditions. These partnerships focus on reducing costs and improving outcomes for clinically complex patients, including Aetna’s Medicare Advantage members.
• In-home cancer care. CVS also has partnered with to offer in-home chemotherapy to oncology patients.