CVS Health Corporation is a healthcare services company that was founded in 1963. The company is headquartered in Woonsocket, Rhode Island, United States, and operates in three main business segments: Pharmacy Services, Retail/LTC, and Health Care Benefits.
The Pharmacy Services segment includes CVS Health's pharmacy benefit management (PBM) operations, which manage prescription drug benefits for health plans, employers, and government programs. CVS Health's PBM operations are one of the largest in the United States, with approximately 94 million plan members.
The Retail/LTC segment includes CVS Health's retail pharmacy operations, which include approximately 9,900 retail pharmacy locations across the United States. CVS Health's retail pharmacies offer a range of prescription and over-the-counter medications, as well as health and wellness products. The company's Long-Term Care (LTC) operations provide pharmacy services to skilled nursing facilities, assisted living facilities, and other long-term care facilities.
The Health Care Benefits segment includes CVS Health's health insurance offerings, which include Medicare Advantage and Medicaid managed care plans, as well as individual and group health insurance products. CVS Health's health insurance operations serve approximately 23 million members across the United States.
CVS Health's mission is to help people on their path to better health, and the company is committed to providing high-quality, affordable healthcare services to its customers. The company has a strong focus on innovation and is constantly exploring new ways to improve its products and services. For example, CVS Health has invested heavily in telehealth services, which allow customers to access healthcare services remotely.