Corporate earnings forecasts for the second quarter were lowered so much that companies are easily beating them.Market Insiderread more
The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a...The Fedread more
His case for gold comes as central banks get more aggressive with policies that devalue currencies and are about to cause a "paradigm shift" in investing.Marketsread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
House Speaker Nancy Pelosi says she wants her chamber to vote on a debt ceiling and budget deal by July 26.Politicsread more
Philips has acquired a start-up that texts you about your poop. That's Medumo, a Boston-based company, which works with hospitals to guide their patients through common...Technologyread more
The "'Cadillac tax," set to go into effect in 2022, is unpopular with both Republicans and Democrats, who say it punishes the middle class.Health and Scienceread more
Federal Judge William Pauley wrote in a court filing made public Wednesday that materials related to a campaign finance probe of Cohen should be unsealed — and denied a...Politicsread more
The U.S. economy continued growing at a "modest" rate in recent weeks, with consumers continuing to spend and a "generally positive" outlook overall even in the face of...Economyread more
CSX said it expects revenue to fall as much as 2% in 2019, well below a previous forecast of an increase of 1% to 2%.Marketsread more
Facebook's head of Calibra David Marcus is grilled during a House Financial Services Committee hearing over the company's digital currency plans.Technologyread more
CVS will bring its health-focused stores to Boston, Dallas-Fort Worth, North Carolina and Ohio, among other markets, early next year, the company announced Thursday.
Called HealthHUBs, the stores boast more health services and products like blood testing and sleep apnea machines. CVS unveiled the concept in Houston earlier this year and announced last month it would add 1,500 HealthHUBs by the end of 2021.
In the first half of 2020, CVS will open HealthHUBs in Boston, Dallas-Forth Worth, Florida, Maryland, North Carolina, Ohio, and Virginia. It will also open a handful of stores in Hartford, home of CVS's newly acquired Aetna's headquarters, New York City and Washington, D.C.
CVS Pharmacy President Kevin Hourican said the company has "the highest confidence" in the new store design.
"We can address the chronic disease patients of Aetna, lower medical costs and serve customers better than they're currently being served," he said in an interview.
HealthHUBs embody CVS's vision for the $70 billion acquisition of health insurer Aetna it completed last fall. CVS hopes that in combining drugstores, pharmacy benefits and health insurance, it can better tailor its stores to treat chronic diseases and other costly conditions, improve the stores' performance and lower health-care costs.
In the existing HealthHUBs, Hourican said CVS has seen increases in foot traffic, MinuteClinic visits, prescriptions dispensed and sales of products in the front of the stores since remodeling the stores. People are starting to visit the clinics for chronic disease management, particularly diabetes, instead of the typical cough or flu visit, he said.
For next year's expansion, CVS chose the new markets where Aetna had identified a higher likelihood of chronic disease among its health insurance members, Hourican said. CVS picked the stores, which he calls "no-brainer stores," because they're in places where Aetna members live and where CVS already has clinics.
CVS plans to work with other health insurers to map out future expansions, Hourican said. He said CVS isn't ready to disclose any plans publicly yet but said there's been "tremendous interest from health plans who want to partner with us."
HealthHUBs might look a bit different based on their locations, he said.
For example, a store in a community with a large Medicaid population might offer more health services than products since those communities tend to lack primary care services. A store in an area with a large population of new mothers might use the HealthHUBs' new wellness rooms to host classes before and after birth. Or a store in a place with many senior citizens might host bingo and mental games to tackle social isolation or memory acuity.
"We have a plan for a prototype store with a common HealthHUB experience," Hourican said. "As we go into other stores, we'll tweak them to meet the needs of the local community."