I stepped back and said, “What is our real purpose for the company?” What I want to do is make sure that people have access to affordable, high quality healthcare and that we as a company can help people navigate the system of care. health. Because we are so central in people’s lives, we have the potential to be even more central in people’s lives. That’s the mark I really want to make, is to be a part of someone’s everyday life, where if they’re healthy, they’ll join us in staying healthy. If they have a health problem, they will interact with us so we can help manage and navigate the problem.
Can you give me some examples?
Well, let’s start with a pandemic, shall we? So you go to CVS to do your test and we start that, you know, back when you go to CVS to buy your vaccine. We made virtual primary care a change in the way people think. We’ve added behavioral health experts to our stores, which makes a real difference. We will move into expanding healthcare services. I don’t want people to think of CVS Health as just that one pharmacy. I want them to think of it as a healthcare company.
How big of a problem is going on with your stores?
There are some parts of the country that are worse off than others, but it doesn’t have a significant effect on our financial results. However, it is a safety issue for our employees. So one of the things we did was invest more in security.
How does the labor shortage affect the company? Are you having trouble recruiting staff?
That is a big challenge for us. We have increased wages. We have paid pharmacy bonuses in the past year. We’ve made big hiring days. But it is a constant balance and a constant battle.
You said you would raise your minimum wage to $15 an hour this summer. Is it right?
We take it in stages. So we’ve been rolling it out over time and I don’t know that’s enough. Obviously we moderate wages in different parts of the country and I will continue to evaluate it.
What do you think is the most effective way we can reduce the cost of healthcare for everyday Americans? And what is your company’s role in doing that?
There are a few things. One is to have a place of care. Our role is to provide a respite care location, either at our retail locations or at home with virtual connections. We get into primary care because we believe primary care has a really significant effect on healthcare costs.
https://www.nytimes.com/2022/01/21/business/karen-lynch-cvs-health-ceo.html CVS Health Director wants to be a part of everyone’s ‘Daily Life’