Digital personalization in the healthcare industry is critical to elevate the customer experience.
In keeping with that theme, CVS Health CEO David Joyner identified advancing digital strategies as one of four priorities for 2025 during the company’s fourth-quarter earnings call Wednesday (Feb. 12).
The newly redesigned CVS Health app will help “drive simplicity and efficiency while delivering better experiences for the people we serve,” Joyner said during the call.
The new app is designed to improve access, affordability and convenience for the company’s 60 million digital customers, according to a January press release. It offers a range of services, allowing users to manage prescriptions, track health spending and access wellness content across CVS Pharmacy, CVS Caremark and CVS Specialty pharmacies. Users can also schedule immunizations and access health spending details for eligible members. The initiative is part of the company’s larger effort to elevate digital engagement and simplify healthcare management for consumers across the country.
“Our updated CVS Health app makes it easier for consumers to manage their health by giving them seamless access to appointments, copay details and prescription status,” Joyner said during the call. “We’re also leveraging AI to create a more intuitive workflow and faster turnaround times to reduce frustrations for our members and provider partners.”
Future updates will include tools to help patients with chronic conditions, better integration with Aetna and Caremark services, and digital resources designed to support consumers’ overall health and wellness, the release said.
“The app is the health concierge and guide for all consumers,” CVS Health Pharmacy and Consumer Wellness Senior Vice President and Chief Digital and Technology Officer Tony Ambrozie said in the release.
Some of the app’s key features include faster in-store pickups, AI-powered search, and wellness content via partnerships with Headspace and Everyday Health. There are plans for future enhancements like artificial intelligence chat, according to the release.
CVS Health is positioning the app as a central hub for health and wellness, per the release. A redesigned home screen is tailored to individual user needs, providing personalized health reminders and recommendations. From refilling prescriptions to scheduling appointments, the app offers users a comprehensive, digital solution to manage care.
“Our unique collection of assets and our deep connections with our consumers, members and patients position us to deliver a better and differentiated experience to everyone we serve,” Joyner said during the call. “We have strong momentum heading into 2025.”
Managing personal healthcare journeys has become a larger focus for consumers in the United States. According to the PYMNTS Intelligence report “Connected Wellness: What’s Next in the Connected Economy,” 57% of U.S. consumers sought preventative healthcare online, and 148 million U.S. consumers are using health apps for preventative care, including guided meditation and fitness trackers to monitor their vitals.
Fourth-quarter revenue increased 4.2%, to $97.7 billion, while full-year revenue also rose 4.2%, to $372.8 billion, according to a Wednesday press release.
The company expects at least $385.9 billion total revenue for 2025, according to an earnings presentation.
“[W]hile there are external factors that pose near-term challenges, there are also many reasons to be excited,” Joyner said during the call. “The broader demographic trends of an aging population, advances in AI and technology, the need for more personalized care and the expectations of the American public to create an improved consumer experience are opportunities where we are best positioned to lead.”
In addition to digital advancements, Joyner said the company’s other priorities for 2025 are best-in-class businesses, strong integrated capabilities, and disciplined capital stewardship.
“Rising healthcare costs put pressure on consumers as they see increasing challenges with affordability,” Joyner said during the call. “…To be clear, healthcare costs are increasing because of the combination of greater utilization, rising provider costs, labor shortages and dramatic price hikes for branded pharmaceuticals.”
Pharmacy benefit managers (PBMs) like CVS Caremark help offset rising costs, he said.
“Our work is a critical counterbalance to the monopolistic tendencies of drug manufacturers,” Joyner said. “This is why PBMs are needed and why manufacturers fight so hard to limit our capabilities.”
PBMs have been estimated to generate net value for the U.S. healthcare system of over $100 billion per year, he said.
“So, when you look at all the data … the conclusion is clear,” he said. “PBMs deliver savings to their clients. Caremark has been and continues to be a critical solution to help ensure Americans pay less for drugs.”
As CVS Health looks to the future, its goal is to improve and distinguish the healthcare experience for its members, Joyner said during the call.
“While we have made progress addressing some of the frictions that exist in the U.S. healthcare system, including leading the industry and increasing transparency and simplicity, we know the healthcare system must be better,” he said.
