The news: CVS Health launched a first-of-its-kind insurer-backed virtual primary care solution nationwide, Aetna Virtual Primary Care, for self-funded employers.
Here are some of Aetna Virtual Primary Care’s key offerings:
How this shakes up the virtual primary care space: CVS is uniquely positioned to take on the primary care space since it’s equipped with both its retail footprint and health insurance business via Aetna.
Since Aetna Virtual Primary Care the program will be available via employers, CVS can lean on Aetna’s existing employer customer base to sell and distribute its new service. Aetna already covers around 40 million members, so its new virtual primary care program has a platform it can quickly grow from. Not to mention, CVS has conveniently accessible in-person locations: It has over 1,100 MinuteClinic locations and plans to have 650 HealthHUB locations by the end of this year.
What’s next? Back in April, CVS launched its digital health ventures arm—now that it's integrating a new virtual primary care service into its business, it has a direct pipeline to pilot and launch the latest digital health innovations. This could be part of a larger strategy of carving out its place as a digital health leader.
Go deeper: We dive into how retail health clinics have used the pandemic to turbocharge their growth in our recently published analyst note, check it out here.