In the first week of September, CVS health announced a new $8 billion deal aimed at meeting patients where they are to address their health care issues as needed. The deal will finalize the CVS purchase of Signify Health, which is a technology company that sends care providers—like doctors—in order to better determine how these patients are doing and what further assistance they may need.
According to CVS CEO Karen Lynch, patient accessibility—and choice—is crucial. And the home, she says, has become a big part of that choice, that accessibility. Lynch also notes that this deal will give the company a more substantial foundation for greater home health care expansion.
Indeed, Lynch said, “This transaction is a significant step forward in our stratgy to enhance our care delivery for consumers [as it provides] a foundation for future expansion of home health care delivery.”
CVS, of course, is best known as a drug store company, whose national chain has a major locations in cities across the United States, competing with stores like Walgreens. And like Walgreens—and also UnitedHealth Group—CVS Health has been investigating new strategies for care provisions and more personalized health services to customers. This is particularly true for patients with expensive or chronic medical conditions; patients whose heath care needs are more complex.
These investigations have confirmed something that care providers and bill payers have known for quite some time, but might still surprise some folks: a patient’s health is substantially affected by geographic locations. Specifically, personal health care depends largely on where they live, as well as how they eat, and other factors that persist outside of the types of care a provider can offer in the clinic.
This is where Signify Health can help CVS. The firm collaborates with several thousand nurse practitioners, physicians assistants, and doctors all over the country. Signify Health actually meets patients where they live to see how their home life, their diet, and other life factors can influence their overall health. It also allows them to provide additional care that cannot be offered in a brief clinic visit.
