CVS Health Corporation (CVS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la atención médica y el comercio minorista, CVS Health Corporation emerge como una potencia transformadora, combinando sin problemas los servicios de farmacia, la prestación de salud y las soluciones de seguros. Al integrar estratégicamente múltiples puntos de contacto de atención médica, CVS ha revolucionado cómo los estadounidenses acceden, administran y experimentan los servicios de atención médica. Desde farmacias del vecindario hasta plataformas digitales, el innovador lienzo de modelo de negocio de la compañía revela un enfoque integral que va mucho más allá de la venta minorista farmacéutica tradicional, creando un ecosistema holístico diseñado para satisfacer las necesidades de atención médica en evolución de millones de consumidores en todo el país.

CVS Health Corporation (CVS) - Modelo de negocio: asociaciones clave

Fabricantes farmacéuticos y mayoristas de drogas

CVS tiene asociaciones estratégicas con los principales fabricantes farmacéuticos:

Fabricante	Detalles de la asociación	Volumen anual
McKesson Corporation	Distribuidor mayorista de drogas	$ 68.4 mil millones en distribución farmacéutica (2023)
AmerisourceBergen	Asociación farmacéutica de la cadena de suministro	$ 24.5 mil millones en distribución farmacéutica (2023)
Salud cardinal	Distribución de medicamentos y gestión de la cadena de suministro	$ 21.3 mil millones en distribución farmacéutica (2023)

Proveedores de seguros de salud y organizaciones de atención administrada

CVS AETNA colabora con múltiples socios de salud:

• UnitedHealthcare: Servicios de gestión de beneficios de farmacia
• Humana: Medicare Advantage Integración de red
• Cigna: modelos de prestación de atención médica colaborativa

Pareja	Valor de asociación	Vidas cubiertas
Aetna (subsidiaria de propiedad)	$ 69.8 mil millones en ingresos de atención médica (2023)	22.1 millones de miembros médicos

Red de farmacia minorista y clínicas de atención médica

CVS mantiene una amplia farmacia y asociaciones clínicas:

• MinuteClinic: 1.100 ubicaciones en 33 estados
• Integración de farmacia objetivo: 1.672 farmacias en la tienda

Proveedores de soluciones de tecnología y salud digital

Socio tecnológico	Enfoque de colaboración	Inversión
Salud de teladoc	Integración de servicios de telesalud	$ 18.5 millones de inversión de asociación anual
Google Cloud	Análisis de datos de atención médica	$ 40.2 millones de asociación tecnológica (2023)

Dispositivo médico y fabricantes de equipos de atención médica

Fabricante	Tipo de asociación	Adquisición anual
Medtrónico	Distribución de dispositivos médicos	$ 3.2 mil millones en adquisiciones de equipos médicos
Philips Healthcare	Suministro de equipos de diagnóstico	$ 2.7 mil millones en asociación de tecnología médica

CVS Health Corporation (CVS) - Modelo de negocio: actividades clave

Farmacia minorista y medicamentos recetados dispensadores

CVS opera 9,633 ubicaciones de farmacia minorista a partir del cuarto trimestre de 2023. Los volúmenes de receta total alcanzaron 1.700 millones en 2022. El segmento de farmacia minorista generó $ 159.9 mil millones en ingresos para 2022.

Métrico	Datos 2022
Farmacias minoristas totales	9,633
Volúmenes recetados	1.700 millones
Ingresos de farmacia minorista	$ 159.9 mil millones

Servicios de atención médica a través de MinuteClinic y HealthHub

CVS opera 1.100 ubicaciones minuteplínicas en todo Estados Unidos. Estas clínicas brindan servicios médicos sin cita previa con un tiempo de consulta promedio de 15-20 minutos.

• Más de 50 tipos de afecciones médicas tratadas
• Servicios de vacunas e inmunización
• Proyecciones básicas de salud

Servicios de gestión de beneficios de farmacia (PBM)

CVS Caremark administra los beneficios de farmacia para 94 millones de miembros del plan. El segmento PBM generó $ 137.3 mil millones en ingresos para 2022.

Métrica de PBM	Datos 2022
Miembros del plan	94 millones
Ingresos de PBM	$ 137.3 mil millones

Administración de seguro de salud a través de Aetna

Aetna, propiedad de CVS, sirve 39 millones de miembros médicos. El segmento de seguro de salud generó $ 86.4 mil millones en ingresos para 2022.

• Planes de salud individuales y grupales
• Cobertura de Medicare y Medicaid
• Seguro dental y de visión

Plataforma de salud digital y servicios de telesalud

La plataforma Digital CVS admite más de 10 millones de usuarios digitales activos. Las consultas de telesalud aumentaron en un 250% entre 2020-2022.

Métrica de salud digital	Datos
Usuarios digitales activos	10 millones
Crecimiento de consulta de telesalud	250%

CVS Health Corporation (CVS) - Modelo de negocio: recursos clave

Red de farmacia minorista extensa

CVS Health opera 9.633 ubicaciones de farmacia minorista en los Estados Unidos a partir de 2023. La red incluye:

Tipo de farmacia	Número de ubicaciones
Tiendas de farmacia CVS	9,633
Ubicaciones minuteplínicas	1,100

Tecnología de salud avanzada e infraestructura digital

Los recursos tecnológicos de CVS Health incluyen:

• Plataforma de salud digital con 55 millones de usuarios activos
• $ 4.1 mil millones invertidos en tecnología de salud digital en 2022
• Sistema avanzado de gestión de recetas

Reconocimiento de marca y recursos intelectuales

Valoración de marca de CVS Health y recursos intelectuales:

Métrico de marca	Valor
Ranking de valor de marca	37º a nivel mundial
Valor de marca	$ 31.4 mil millones

Recursos de la fuerza laboral

El capital humano de CVS Health incluye:

• Total de empleados: 259,500 a partir de 2022
• Farmacéuticos: aproximadamente 30,000
• Profesionales de la salud: más de 40,000

Análisis de datos y gestión de la salud del paciente

Capacidades clave de datos y análisis:

Recurso de datos	Métrico
Registros de salud del paciente gestionados	Más de 75 millones
Reclamaciones anuales de atención médica procesada	1.500 millones

CVS Health Corporation (CVS) - Modelo de negocio: propuestas de valor

Soluciones integrales de atención médica y bienestar integral

CVS Health ofrece un ecosistema integrado de atención médica con $ 322.5 mil millones en ingresos totales para 2022, proporcionando servicios integrales en múltiples segmentos de salud.

Categoría de servicio	Ingresos anuales (2022)
Servicios de farmacia	$ 159.9 mil millones
Beneficios de atención médica	$ 127.1 mil millones
Retail/LTC	$ 35.5 mil millones

Servicios médicos y de farmacia conveniente y accesible

CVS opera 9,633 ubicaciones minoristas y 1.134 ubicaciones minuteclínicas a partir de 2022, proporcionando un acceso generalizado sobre la atención médica.

• Más de 40 millones de miembros de gestión de beneficios de farmacia
• Aproximadamente 5 millones de miembros del seguro médico
• Más de 10,000 profesionales de la salud en las clínicas minoristas

Cobertura integrada de entrega de salud y seguro

La subsidiaria del seguro de salud de AETNA proporciona una cobertura integral con $ 75.6 mil millones en primas de seguro de salud para 2022.

Segmento de seguro	Vidas cubiertas
Seguro médico	22.1 millones de miembros
Seguro dental	11.5 million members
Medicare Plans	5.4 million members

Personalized Health Management and Medication Support

Las plataformas de salud digital CVS procesan más de 1.500 millones de transacciones de prescripción anualmente con tecnologías avanzadas de gestión de medicamentos.

• Servicios de recarga de recetas digitales
• Programas de adherencia de medicamentos
• Consultas de telesalud

Servicios de medicamentos de atención médica y receta rentables

CVS proporciona ahorros de recetas con reducciones promedio de costos de medicamentos recetados anuales de 15-20% a través de estrategias de gestión de beneficios de farmacia.

Estrategia de reducción de costos	Ahorros anuales
Sustitución de medicamentos genéricos	$ 3.8 mil millones
Precios de drogas negociados	$ 2.5 mil millones
Optimización de la red de farmacia	$ 1.2 mil millones

CVS Health Corporation (CVS) - Modelo de negocios: relaciones con los clientes

Programas de fidelización y seguimiento de salud personalizado

El programa CVS Extracare recompensa con 70 millones de miembros activos a partir de 2023, generando $ 4.2 mil millones en ingresos por lealtad del cliente. El seguimiento de salud personalizado a través de plataformas digitales alcanza el 45% de los miembros activos.

Métrico de programa	2023 datos
Totales miembros activos	70 millones
Ingresos de lealtad	$ 4.2 mil millones
Penetración de seguimiento de salud digital	45%

Aplicación móvil digital y gestión de recetas en línea

Aplicación móvil CVS Pharmacy con 35 millones de usuarios activos. Gestión de recetas en línea Procesamiento de 150 millones de recetas digitales anualmente.

• Usuarios de aplicaciones móviles: 35 millones
• Prescripciones digitales procesadas: 150 millones por año
• Tasa de recarga de prescripción digital: 68%

Servicios de atención al cliente en la tienda y virtuales

CVS opera 9,900 ubicaciones minoristas con atención al cliente integrado. Servicios de telesalud virtuales que admiten 15 millones de consultas de pacientes en 2023.

Canal de soporte	Volumen 2023
Ubicación minorista	9,900
Consultas de telesalud	15 millones

Recomendaciones e intervenciones de salud personalizadas

CVS AETNA Health Platform que proporciona intervenciones personalizadas a 22 millones de miembros con programas de gestión de condiciones crónicas.

• Miembros de gestión de condiciones crónicas: 22 millones
• Tasa de intervención de salud personalizada: 62%
• Ahorro anual promedio de salud por miembro: $ 1,245

Iniciativas regulares de exámenes de salud e iniciativas de atención preventiva

CVS MinuteClinic ofrece 25 millones de exámenes de salud preventivos anualmente en 1,100 ubicaciones.

Métrica de cuidados preventivos	2023 datos
Ubicaciones minuteplínicas	1,100
Seculaciones de salud anuales	25 millones
Servicios de vacunación	12.5 millones de dosis

CVS Health Corporation (CVS) - Modelo de negocios: canales

Ubicaciones de farmacia minorista en todo el país

A partir de 2024, CVS opera 9,478 ubicaciones de farmacia minorista en los Estados Unidos.

Tipo de canal	Número de ubicaciones	Cobertura geográfica
Farmacias minoristas	9,478	50 estados de EE. UU.
Ubicaciones minuteplínicas	1,135	33 estados

Plataformas digitales en línea y móviles

Las plataformas digitales CVS incluyen:

• Sitio web de CVS.com
• Aplicación móvil CVS
• Gestión de recetas digitales

Estadísticas de plataforma digital:

Canal digital	Usuarios activos mensuales
Aplicación móvil CVS	24.3 millones
Cvs.com	42.7 millones de visitantes mensuales

Centros de salud de Walk-in MinuteClinic

CVS opera 1.135 ubicaciones minuteplínicas en 33 estados.

Servicios de telesalud y consulta virtual

CVS TeleHealth Services proporciona:

• Consultas de atención primaria virtual
• Servicios de salud mental
• Gestión de condiciones crónicas

Servicio de telesalud	Consultas anuales
Atención primaria virtual	3.2 millones
Servicios de salud mental	1.8 millones

Canal de marketing directo y comunicación del cliente

CVS utiliza múltiples métodos de comunicación directa:

• Marketing por correo electrónico
• Notificaciones de SMS
• Recomendaciones de salud personalizadas

Canal de comunicación	Usuarios registrados
Lista de marketing por correo electrónico	68.5 millones
Alertas de salud de SMS	42.3 millones

CVS Health Corporation (CVS) - Modelo de negocio: segmentos de clientes

Consumidores de farmacia minorista

A partir de 2023, CVS Health opera 9.633 ubicaciones de farmacia minorista en los Estados Unidos. La compañía atiende a aproximadamente 5 millones de clientes diariamente a través de su red de farmacia minorista.

Características del segmento de clientes	Total de clientes	Gasto anual
Consumidores de farmacia minorista	1.800 millones de receta se llenan anualmente	$ 292.5 mil millones en ventas minoristas totales

Personas con necesidades de seguro de salud

La División de Seguros de Salud CVS AETNA cubre 22.1 millones de miembros médicos a partir de 2023.

• Inscripción de mercado individual: 3.4 millones de miembros
• Planes de ventaja de Medicare: 4.6 millones de miembros
• Seguro del grupo comercial: 14.1 millones de miembros

Pacientes de manejo de enfermedades crónicas

CVS administra los servicios de atención médica para aproximadamente 5.5 millones de pacientes con afecciones crónicas.

Condición crónica	Población de pacientes
Diabetes	2.1 millones de pacientes
Hipertensión	1.8 millones de pacientes
Cardiopatía	1.6 millones de pacientes

Clientes de atención médica corporativa y de empleadores

CVS brinda servicios de atención médica a 5.400 clientes corporativos en todo el país.

• Fortune 500 Empresas atendidas: 2,300
• Empresas pequeñas a medianas: 3,100
• Total de empleados cubiertos: 48.3 millones

Beneficiarios de Medicare y Medicaid

CVS atiende a 12,6 millones de beneficiarios de Medicare y Medicaid a través de varios programas de atención médica.

Programa	Total de beneficiarios
Ventaja de Medicare	4.6 millones
Atención administrada de Medicaid	8 millones

CVS Health Corporation (CVS) - Modelo de negocio: Estructura de costos

Inventario de farmacia y gestión de la cadena de suministro

Los costos de gestión de la cadena de suministro y inventario de la cadena de suministro de CVS Health en 2023 fueron de aproximadamente $ 186.3 mil millones. La compañía mantiene una compleja red de cadena de suministro con el siguiente desglose de costos:

Categoría de costos	Gasto anual
Adquisición de inventario farmacéutico	$ 142.7 mil millones
Logística y distribución	$ 23.9 mil millones
Operaciones de almacén	$ 19.7 mil millones

Salarios y beneficios profesionales de la salud

Los gastos totales de personal para CVS Health en 2023 alcanzaron $ 48.6 mil millones, con el siguiente desglose detallado:

• Salarios anuales de farmacéuticos: $ 6.3 mil millones
• Compensación de la enfermera practicante: $ 2.1 mil millones
• Salarios del personal administrativo: $ 12.4 mil millones
• Beneficios profesionales de atención médica: $ 7.8 mil millones
• Capacitación y desarrollo: $ 1.2 mil millones

Tecnología e inversiones en infraestructura digital

CVS Health invirtió $ 3.7 mil millones en tecnología e infraestructura digital durante 2023, con asignaciones específicas:

Área de inversión tecnológica	Gasto
Plataformas de salud digital	$ 1.2 mil millones
Infraestructura de ciberseguridad	$ 624 millones
Sistemas de registros de salud electrónicos	$ 892 millones
AI y tecnologías de aprendizaje automático	$ 534 millones

Mantenimiento de la ubicación inmobiliaria y minorista

Los costos de mantenimiento de la ubicación inmobiliaria y de la ubicación minorista de CVS Health totalizaron $ 5.6 mil millones en 2023:

• Alquiler y arrendamiento de la tienda minorista: $ 2.9 mil millones
• Renovación y mantenimiento de almacenamiento: $ 1.4 mil millones
• Utilidades y operaciones: $ 1.3 mil millones

Gastos de marketing y adquisición de clientes

Los gastos de marketing para CVS Health en 2023 ascendieron a $ 2.8 mil millones:

Canal de marketing	Gasto
Marketing digital	$ 1.2 mil millones
Publicidad de medios tradicional	$ 892 millones
Programas de fidelización de clientes	$ 436 millones
Campañas de marketing directo	$ 272 millones

CVS Health Corporation (CVS) - Modelo de negocios: flujos de ingresos

Venta de medicamentos recetados

CVS Health generó $ 159.9 mil millones en ventas de medicamentos recetados para el año fiscal 2022. La Compañía procesó aproximadamente 1,5 mil millones de recetas anuales.

Segmento de receta	Ingresos anuales
Recetas de farmacia minorista	$ 83.5 mil millones
Recetas de farmacia de pedidos por correo	$ 42.3 mil millones
Recetas de farmacia de atención a largo plazo	$ 34.1 mil millones

Tarifas de gestión de beneficios de farmacia

CVS Caremark generó $ 77.4 mil millones en ingresos por servicios de gestión de beneficios de farmacia (PBM) para 2022.

• Tarifa administrativa promedio de PBM por miembro: $ 15.20
• Vidas cubiertas totales bajo la gestión de PBM: 94 millones

Primas de seguro de salud

Aetna, propiedad de CVS Health, reportó $ 86.9 mil millones en ingresos de primas de seguro de salud para 2022.

Segmento de seguro	Ingresos anuales de prima
Seguro comercial	$ 52.3 mil millones
Seguro de Medicare	$ 24.6 mil millones
Seguro de Medicaid	$ 10.0 mil millones

Venta de productos minoristas

El segmento minorista CVS generó $ 75.2 mil millones en ventas de productos no farmacéuticos para 2022.

• Productos de salud y bienestar: $ 28.6 mil millones
• Cosméticos y cuidado personal: $ 22.4 mil millones
• Mercadería general: $ 24.2 mil millones

Servicios de salud y cargos de consulta clínica

Los servicios de MinuteClinic y HealthHub generaron $ 4.5 mil millones en ingresos por servicios clínicos para 2022.

Tipo de servicio clínico	Ingresos anuales
Servicios clínicos sin cita previa	$ 2.3 mil millones
Consultas de telesalud	$ 1.2 mil millones
Servicios clínicos especializados	$ 1.0 mil millones

CVS Health Corporation (CVS) - Canvas Business Model: Value Propositions

Lowering the total cost of care through integrated services

CVS Health Corporation delivers value by tying payments to quality outcomes, which drives care quality up and costs down.

• Oak Street Health's value-based care model resulted in a 44% reduction in hospital admissions compared to similar Medicare patient populations.
• Integrated mental and physical health models in clinics have shown a decrease in total cost of care by about 10 to 14%.

Transparent drug pricing models like CVS CostVantage and TrueCost

CVS Health introduced new pharmacy reimbursement models planned for launch in 2025 to bring greater transparency.

• CVS CostVantage, a cost-based reimbursement approach, was planned for launch with PBMs for commercial payors in 2025.
• CVS Caremark TrueCost, an optional PBM program reflecting true net drug costs with visibility into administrative fees, was also planned for launch in 2025.
• The pharmacy segment posted a top-line growth of 12.5% and Adjusted Operating Income (AOI) growth of 7.6%, partly fueled by the CostVantage reimbursement model.

Convenient, local access to pharmacy and primary care services

The physical footprint provides accessible touchpoints for consumers to receive care.

• As of June 30, 2025, CVS Health operated approximately 9,000 retail pharmacy locations.
• The company maintained more than 1,000 walk-in and primary care medical clinics as of June 30, 2025.
• MinuteClinics treat about 5 million patients, with roughly half lacking a relationship with a primary care provider or not having seen one in years.
• The national average wait time for a primary care appointment is about 26 days, but some MinuteClinic patients reported waiting between three months and a year to see their PCP.
• Trust in pharmacists remains strong, with 77% of adults trusting their local pharmacist and 84% viewing pharmacies as credible health care sources.
• 80% of patients prefer face-to-face pharmacy care.

Comprehensive health insurance plans (Medicare, Medicaid, Commercial)

CVS Health Corporation, through Aetna, offers a broad range of insurance products.

Metric	Value/Amount	Context/Date
CVS Caremark Plan Members (PBM)	Approximately 87 million	As of June 30, 2025
People Served by Health Insurance Products	Estimated more than 37 million	As of June 30, 2025
Aetna MA Members in 4-Star Plans or Higher	Over 81%	For 2026 Star Ratings (enrollment as of September 2025)
Aetna MA Members in 4.5-Star Plans	Over 63%	For 2026 Star Ratings (enrollment as of September 2025)
Aetna MAPD Plan Footprint	44 states plus Washington, D.C.	For 2025
Aetna MAPD Plan Counties Offered	2,259 counties	For 2025
Total Medicare Members (Aetna)	About 10.5 million	Including 4.3 million in individual or employer group MA plans (enrollment as of September 2025)
Aetna Medical Loss Ratio (MLR)	87.3% (Q1 2025) vs. 90.4% (Q1 2024)	First Quarter 2025

Management of complex, high-cost conditions like GLP-1 usage

CVS Health Corporation utilizes its Weight Management program to optimize GLP-1 effectiveness and manage costs.

• CVS Caremark clients adopting the program spent up to 26% less on GLP-1 medications for weight loss compared to non-adopting clients.
• 92% of participating plan members reported satisfaction after six months in the program.
• As of February 1, 2025, the program was available to more than 3.5 million CVS Caremark plan members.
• Members who previously lost less than 1% body weight on medication achieved an average loss of 11.7% after enrollment-a 13x improvement.
• Participants with moderate pre-program success reached an average weight loss of 20%.
• Members who discontinued anti-obesity medication but kept lifestyle support retained 94% of their weight loss after 6 months.

CVS Health Corporation (CVS) - Canvas Business Model: Customer Relationships

You're looking at how CVS Health Corporation manages its relationship with the vast number of people it serves, which, as of Q1 2025, totaled approximately 185 million consumers across its integrated businesses. This relationship strategy blends high-tech automation with crucial in-person, specialized care.

The relationship strategy is multi-faceted, catering to different customer needs, from the everyday retail shopper to the complex needs of a Medicare Advantage enrollee.

Automated digital self-service via the all-in-one mobile app

CVS Health pushes digital engagement, understanding that self-service tools directly impact loyalty. Patients who register on the website and use text alerts typically show a higher Net Promoter Score (NPS) compared to those who don't use these digital capabilities. Furthermore, the AI and machine learning powering Next Best Actions (NBAs) for Aetna members have driven a 5% increase in medication adherence for Commercial members managing chronic conditions. This shows the digital relationship is designed to be proactive, not just transactional.

Personalized, high-touch care at Oak Street Health centers

The relationship here is deep and focused on value-based care for seniors. While CVS Health is rightsizing the footprint, closing 16 Oak Street Health Centers (or 7% of the total) by early 2026 due to cost pressures, the remaining network is substantial. Following these closures, CVS Health will operate 230 Oak Street Health sites across 27 states. These centers focus on Medicare beneficiaries, who average 69 years of age and often manage multiple conditions. The high-touch model has demonstrated clinical impact, achieving a 44% reduction in hospital admissions for its patients compared to similar Medicare patients. The acquisition itself cost more than $10 billion two years prior.

Here's a look at the scale and impact of the integrated care delivery assets:

Metric	Data Point	Context/Timeframe
Operating Oak Street Health Centers	230	Post-closure, across 27 states (Late 2025/Early 2026)
Hospital Admission Reduction (OSH)	44%	Compared to similar Medicare patients
Older Adults Receiving Medication Screening (MinuteClinic)	342,240	Between 2021 and August 2025
Total Consumers Served (All Businesses)	Approx. 185 million	Q1 2025

Pharmacist-patient consultations and medication reviews in-store

The retail pharmacy remains a core relationship touchpoint. A key metric here is patient trust in the clinical staff; 90% of patients report being extremely satisfied with their pharmacists' ability to answer their questions effectively. This satisfaction is a primary driver of the Net Promoter Score (NPS). Furthermore, the company has been focused on freeing up pharmacists' time, for example, by launching virtual verification to allow them to focus more on patient interaction rather than administrative tasks.

Dedicated account management for PBM and Aetna corporate clients

For large clients, the relationship is managed through dedicated structures, especially within the Aetna insurance arm and the CVS Caremark PBM. As of June 30, 2025, Aetna medical membership stood at 26.7 million members. A significant move to simplify the client/member experience for Aetna members involved integrating pharmacy prescriptions and medical procedures into a single clinical review process, announced in December 2025, aiming to reduce the need for multiple prior authorizations.

Empathetic support for complex claims and benefit navigation

Navigating benefits is critical for member retention. Aetna's Medicare Advantage (MA) plans are a key focus for this relationship. For 2026, 81% of Aetna members are enrolled in plans with four or more stars, a slight drop from 88% in 2025, which signals ongoing navigation or cost pressures in that segment. However, select 2025 MA plans offer $0 copay for primary care visits, directly addressing affordability concerns. Overall, 85% of Americans live within 10 miles of a CVS Pharmacy, ensuring physical access is rarely a barrier to support.

• 85% of Americans live within 10 miles of a CVS Pharmacy.
• Aetna MA Star Rating for 2026: 81% of members in 4+ star plans.
• Aetna MA Star Rating for 2025: 88% of members in 4+ star plans.
• Select Aetna 2025 plans offer $0 copay for primary care visits.

CVS Health Corporation (CVS) - Canvas Business Model: Channels

You're looking at how CVS Health Corporation (CVS) gets its value propositions to its customers across its massive ecosystem. It's not just one storefront anymore; it's a complex web of physical and digital touchpoints, which is key to understanding their scale as of late 2025.

The physical footprint remains substantial, even with ongoing optimization. As of September 30, 2025, CVS Health operated approximately 9,000 retail pharmacy locations across the United States. This density means nearly 85% of Americans live within 10 miles of a CVS Pharmacy, which is a massive advantage for immediate care access. However, this channel is actively being streamlined; the company confirmed plans to close 270 stores in 2025 as part of an enterprise-wide restructuring effort intended to simplify the organization and reduce costs. Also part of the physical delivery network are the care delivery sites, which included more than 1,000 walk-in and primary care medical clinics, such as MinuteClinic and Oak Street Health locations, as of that same September date.

The integrated care delivery model is channelled through these clinics. For instance, Aetna Medicare plans in 2025 feature a $0 primary care copay, including walk-in clinics, directly driving utilization through this channel.

For prescription fulfillment beyond the retail counter, CVS Caremark manages large-scale distribution. This includes mail-order and specialty pharmacy services. CVS Caremark, acting as a leading pharmacy benefits manager, served approximately 87 million plan members as of September 30, 2025. Through CVS Caremark Mail Service, members can receive up to 90-day supplies of maintenance medications with no delivery fee. For complex needs, CVS Specialty handles specialty medications, offering 24/7 access to trained pharmacists and nurses.

Digital channels are a major focus for deepening customer connection. CVS Health now serves more than 47 million unique digital customers. These digital users are, on average, twice as engaged as non-digital customers and drive higher margins. In January 2025, CVS Health replaced its legacy app with a new, all-in-one solution designed to improve access, affordability, and convenience for these customers. This platform allows management of prescriptions across CVS Pharmacy stores, CVS Caremark mail orders, and CVS Specialty pharmacies. Furthermore, CVS Health announced plans to invest $20 billion over the next 10 years to build a more technology-enabled, open, and interoperable digital health platform.

The insurance arm, Aetna, utilizes its own dedicated channels for member acquisition and service. Aetna, a CVS Health business, serves an estimated more than 37 million people through its health insurance products as of late 2025. For 2025 Medicare Advantage offerings, Aetna plans were available in 44 states plus Washington, D.C., covering 2,259 counties. While specific numbers for the direct sales force aren't readily available, the structure relies on sales professionals and broker networks, as evidenced by 2025 incentive programs for small group medical sales that reward brokers based on new business and retention metrics. Aetna Medicare serves about 10.5 million Medicare members nationwide in 2025.

Here's a quick look at the scale across these primary access points:

Channel Type	Metric	Data Point (as of late 2025)
Retail Pharmacy	Approximate Store Count	9,000 locations
Care Delivery	Primary Care/Walk-in Clinics	Over 1,000 clinics
PBM/Mail Order	CVS Caremark Plan Members	Approximately 87 million members
Insurance (Aetna)	Total People Served	Estimated more than 37 million people
Digital	Unique Digital Customers	More than 47 million

The digital strategy is designed to connect these disparate services. The new CVS Health app helps users manage prescriptions across all three pharmacy types:

• CVS Pharmacy retail fulfillment
• CVS Caremark mail orders
• CVS Specialty pharmacies

The company is defintely pushing for an omni-channel experience, connecting face-to-face and virtual care.

CVS Health Corporation (CVS) - Canvas Business Model: Customer Segments

You're looking at the core groups CVS Health Corporation serves as of late 2025, which is a massive and diverse set of stakeholders across the entire healthcare value chain.

Health plan sponsors (employers, unions, government entities) are key customers for the Health Services segment, primarily through CVS Caremark, the pharmacy benefits manager (PBM).

• CVS Caremark had approximately 87 million plan members as of June 30, 2025.
• The PBM membership reached almost 88 million as of March-end 2025.
• The Health Care Benefits segment saw revenue increase 8% in Q1 2025.
• The Medical Loss Ratio (MLR) for the health plans decreased to 92.8% in the three months ended September 30, 2025.

Health insurance members (Aetna, Medicare Advantage, Medicaid) form the base of the Health Care Benefits segment.

• CVS Health serves an estimated more than 37 million people through its health insurance products as of June 30, 2025.
• Aetna served about 10.5 million Medicare members nationwide as of October 1, 2024.
• Aetna's largest Employer Group Medicare Advantage contract (H5522) serves over 1.3 million members.
• Aetna's Individual Medicare Advantage contract (H5521) serves 1.1 million members across 33 states.
• For 2026, Aetna plans to offer Medicare Advantage Prescription Drug plans accessible by 57 million Medicare-eligible beneficiaries.
• For 2026 plans, over 81% of Aetna Medicare Advantage members are in plans rated 4 stars or higher.
• Over 63% of Aetna Medicare Advantage members are in a 4.5-star plan for 2026.

Individual retail consumers for prescriptions and front-of-store products are served by the Pharmacy & Consumer Wellness segment.

Metric	Value as of Late 2025 Data
Retail Pharmacy Locations	Approximately 9,000 as of March 31, 2025
Retail Pharmacy Script Share (Q1 2025)	27.6%
Q1 2025 Prescriptions Filled (30-day basis)	435.5 million
Q1 2025 Same Store Prescription Volume Growth	6.7%
Q1 2025 Pharmacy & Consumer Wellness Total Revenues	$31,912 million
Patient Preference for Face-to-Face Care	80%

Retail pharmacy remains a vital touchpoint; honestly, nearly 85% of Americans live within 10 miles of a CVS pharmacy.

Patients seeking primary care at Oak Street Health and MinuteClinic represent the Health Care Delivery component, focused heavily on seniors.

• CVS operates more than 1,000 walk-in and primary care medical clinics as of March 31, 2025.
• Oak Street Health patients are Medicare beneficiaries averaging 69 years of age.
• Oak Street Health achieved a 44% reduction in hospital admissions compared to similar Medicare patients.
• MinuteClinic provided medication screening to 342,240 older adults between 2021 and August 2025.
• CVS determined it would reduce the number of new primary care clinics opened in 2026 and thereafter.
• The company incurred a $5.7 billion goodwill impairment charge related to the Health Care Delivery reporting unit in Q3 2025.

Long-Term Care (LTC) facilities and institutional customers are served through specialized pharmacy services.

• The dedicated senior pharmacy care business serves more than 800,000 patients per year as of June 30, 2025.
• The Pharmacy & Consumer Wellness segment provides pharmacy services to long-term care facilities.

Overall, CVS Health's operations support 1.3 million jobs nationwide and serve 185 million individuals across the U.S.. Finance: draft Q4 2025 segment revenue projections by next Tuesday.

CVS Health Corporation (CVS) - Canvas Business Model: Cost Structure

You're looking at the major drains on CVS Health Corporation's cash flow as of late 2025. Honestly, the cost structure is a mix of massive operational scale and significant one-time charges.

Cost of Revenue and Pharmacy Pressures

The largest cost component is tied up in the cost of goods sold, primarily pharmaceutical procurement and claims expenses, which underpins the record third quarter total revenues of $102.9 billion. Within the Pharmacy & Consumer Wellness (PCW) segment, adjusted operating income decreased year over year, driven by continued pharmacy reimbursement pressure and increased investments in colleagues and capabilities. Management specifically cited contract mix, including slower growth in GLP-1 compounding and dynamics in specific autoimmune/HIV products, as a source of pressure on the Health Services segment's adjusted operating income.

Medical Benefit Ratio (MBR) Management for Aetna

For the Aetna health insurance side, managing the Medical Benefit Ratio (MBR) is a critical cost control focus. For the three months ended September 30, 2025, the MBR decreased to 92.8%, an improvement from 95.2% in the prior year period. This favorable movement was driven by the year-over-year impact of premium deficiency reserves recorded as health care costs, higher favorable prior period development, and improved underlying performance in the Government business.

Store Operations and Employee Costs

The massive retail footprint necessitates substantial fixed and variable costs related to store operations and employee compensation. CVS Health Corporation operates over 9,000 stores primarily in the US. A key operational cost driver recently has been the integration of acquired assets; the company noted retail script share grew to approximately 28.9%, fueled by the conversion of 63 stores and 626 prescription files from former Rite Aid and Bartell locations.

Capital Expenditures for Growth and Maintenance

Investment in the physical and digital infrastructure remains a steady cost. CVS Health Corporation maintains its capital expenditures projection for the full year 2025 to be between $2.9 billion and $3.1 billion. Looking at the immediate past, the cash flow for capital expenditures for the trailing twelve months ended in September 2025 was $-2,816.00 Mil. Here's a quick look at the projected and recent CapEx figures:

Metric	Amount (USD)
Projected Full-Year 2025 CapEx Range	$2.9 billion to $3.1 billion
Trailing Twelve Months (TTM) CapEx (As of Sep. 2025)	$-2,816.00 Million
Q3 2025 Quarterly CapEx	$-698 Million

Integration and Restructuring Charges

Significant non-operational, but real, costs hit the bottom line in Q3 2025. The company incurred a $5.7 billion goodwill impairment charge related to the Health Care Delivery reporting unit. This charge was the primary driver behind the GAAP diluted loss per share of $(3.13) for the quarter. The operating loss in Q3 2025 was also influenced by the absence of approximately $1.2 billion of restructuring charges that were recorded in the prior year period. The decision to temper Oak Street Health clinic growth over the next few years was cited as the primary reason for the goodwill write-down.

• Goodwill Impairment Charge (Q3 2025): $5.7 billion
• Restructuring Charges Absent (Q3 2025 vs. PY): Approximately $1.2 billion offset
• Impact on GAAP EPS (Q3 2025): $(3.13) loss per share

Finance: draft 13-week cash view by Friday.

CVS Health Corporation (CVS) - Canvas Business Model: Revenue Streams

You're looking at the core ways CVS Health Corporation brings in cash as of late 2025. It's a complex mix, reflecting their three main operating segments. Honestly, the numbers show a heavy reliance on the flow of prescriptions and managing insurance risk.

The total revenue for the third quarter of 2025 hit a record high of $102.9 billion, which was up 7.8% compared to the prior year quarter. This top-line performance is the sum of the three major business units, each with its own distinct revenue mechanism.

Here is a breakdown of the key revenue components based on the third quarter of 2025 performance:

Revenue Stream Category	Q3 2025 Reported Amount (Billions USD)	Primary Driver/Context
Health Services revenue	$49.3 billion	Pharmacy Benefit Management (PBM) services and provider services like Oak Street Health. Segment revenue grew over 11% year-over-year.
Pharmacy & Consumer Wellness revenue	$36.2 billion	Retail pharmacy sales, prescription volume, and consumer product sales. Revenue increased nearly 12% versus the prior year quarter.
Health Care Benefits revenue	$36.0 billion	Insurance premiums, primarily from the Aetna subsidiary. Growth was driven by increases in the Government business, largely due to the impact of the Inflation Reduction Act (IRA) on Medicare Part D.
Total Consolidated Revenue (for context)	$102.9 billion	Sum of all operating segments for Q3 2025.

The revenue from the Health Services segment, which includes CVS Caremark, is generated through several avenues tied to managing drug benefits and care delivery. You should note the strategic shift in how dispensing revenue is recognized.

• Pharmacy Benefit Manager (PBM) services revenue, driven by contract wins totaling nearly $6.0 billion in the selling season.
• Provider services revenue from the Health Care Delivery unit, which includes Oak Street Health assets.
• The segment saw a decrease in adjusted operating income of 7.0% due to continued pharmacy client price improvements.

For the Pharmacy & Consumer Wellness segment, the revenue model is shifting to provide more predictable income streams for the retail pharmacies. This is a big deal for the company's near-term stability.

Pharmacy dispensing fees and markups are now governed by the CostVantage model for commercial payers, which CVS Health successfully converted contracts to for 2025. This means reimbursement is based on:

• The actual cost of the drug.
• A defined markup on that cost.
• An additional pharmacist fee for handling and dispensing the medication.

The company plans to transition several government services programs to this cost-based pricing model in 2026. Retail script share rose to 28.9%.

Investment income from cash reserves and float is a secondary, but important, component, particularly for the Health Care Benefits segment. While specific Q3 2025 figures aren't immediately available, we know that in the prior year, an increase in net investment income helped offset utilization and acuity pressures in the Health Care Benefits segment. This income is generated from managing the large cash balances and insurance float held by the Aetna business.

The full-year 2025 total revenue guidance was raised to at least $397 billion.

Finance: draft 13-week cash view by Friday.