NEW YORK, Oct. 8 /PRNewswire-FirstCall/ -- CVS Caremark (NYSE: CVS) is leading the private-sector effort to address health care cost and quality issues, with several recently introduced initiatives now set to deliver long-term value, Chairman and CEO Tom Ryan, President and Chief Operating Officer Larry Merlo and other senior executives will report at the company's 2010 analyst meeting in New York City today.
The company's recent investments in new approaches to advanced pharmacy care are at the heart of CVS Caremark's strategic plan to increase its leadership in and contributions to the areas of pharmacy services and health care, Ryan said.
The company estimates that the 32 million Americans who will be covered by the federal expansion of health coverage will generate upwards of 200 million prescriptions a year. This increase in demand for innovative pharmacy services will coincide with an increased demand overall for health care services, with 55 million Americans reaching or surpassing the age of 65 by 2015. At the same time, nearly $90 billion of branded drugs are scheduled to go off patent between 2010 and 2016, increasing CVS Caremark's opportunity to advance the use of generics, a key driver of both improved health outcomes and cost savings. With nearly $300 billion spent annually on health issues related to medication non-adherence, the company's approach to increasing adherence will further demonstrate the value of advanced pharmacy care.
In the area of primary care, CVS Caremark's MinuteClinic network of retail health clinics is projected to remain the far-and-away leader of its sector and the company also will describe its plans to expand MinuteClinic through 2015 to meet the expected increase in demand for pri
|SOURCE CVS Caremark|
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