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CVS Health to Invest $20 Billion to Build ‘Tech-Enabled Consumer Health Experience'
PYMNTS.com· 2025-06-03 23:23
Group 1: Investment and Strategy - CVS Health plans to invest $20 billion over the next 10 years to create a "tech-enabled consumer health experience" that integrates its businesses and allows competitors to participate [1] - Advancing digital strategies is one of four priorities for CVS Health by 2025, with a focus on enhancing customer experience through a newly designed app [5] Group 2: Interoperability and Consumer Experience - The project aims to establish interoperability in the healthcare sector, allowing different players to communicate through a single patient record, addressing the primary complaint of customers regarding lack of integration [2][4] - The proposed solution may include a dashboard for healthcare providers to view a comprehensive picture of a patient's healthcare journey, rather than isolated visits or prescriptions [3] Group 3: Consumer Insights and Challenges - A report indicates that 18% of consumers find selecting healthcare professionals and asking questions problematic, while 15% struggle to obtain accurate cost estimates for appointments [4] - There is significant interest among consumers in using patient portals, with 32% expressing strong interest if offered by their providers [4]