CVS Health Corporation (CVS): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique des soins de santé et de la vente au détail, CVS Health Corporation apparaît comme une puissance transformatrice, mélangeant parfaitement les services de pharmacie, la prestation de soins de santé et les solutions d'assurance. En intégrant stratégiquement plusieurs points de contact sur les soins de santé, CVS a révolutionné la façon dont les Américains accèdent, gèrent et expérimentent les services de santé. Des pharmacies de quartier aux plates-formes numériques, la toile innovante du modèle d'entreprise de l'entreprise révèle une approche complète qui va bien au-delà de la vente au détail pharmaceutique traditionnelle, créant un écosystème holistique conçu pour répondre aux besoins en évolution des soins de santé de millions de consommateurs à l'échelle nationale.

CVS Health Corporation (CVS) - Modèle d'entreprise: partenariats clés

Fabricants pharmaceutiques et grossistes de médicaments

CVS a des partenariats stratégiques avec les principaux fabricants pharmaceutiques:

Fabricant	Détails du partenariat	Volume annuel
McKesson Corporation	Distributeur en gros de médicaments primaires	68,4 milliards de dollars de distribution pharmaceutique (2023)
Amerisourcebergen	Partenariat de la chaîne d'approvisionnement pharmaceutique	24,5 milliards de dollars de distribution pharmaceutique (2023)
Santé cardinale	Distribution des médicaments et gestion de la chaîne d'approvisionnement	21,3 milliards de dollars de distribution pharmaceutique (2023)

Fournisseurs d'assurance maladie et organisations de soins gérés

CVS AETNA collabore avec plusieurs partenaires de soins de santé:

• UnitedHealthCare: Services de gestion des avantages sociaux de la pharmacie
• Humana: Medicare Advantage Network Intégration
• Cigna: modèles de prestation de soins de santé collaboratifs

Partenaire	Valeur de partenariat	Vies couvertes
Aetna (filiale détenue)	69,8 milliards de dollars de revenus de santé (2023)	22,1 millions de membres médicaux

Réseau de pharmacie de vente au détail et cliniques de soins de santé

CVS maintient de vastes partenariats de pharmacie et de clinique:

• Minuteclinic: 1 100 emplacements dans 33 États
• Intégration de la pharmacie cible: 1 672 pharmacies en magasin

Provideurs de solutions de santé et de santé numérique

Partenaire technologique	Focus de la collaboration	Investissement
Santé Teladoc	Intégration des services de télésanté	18,5 millions de dollars d'investissement de partenariat annuel
Google Cloud	Analyse des données sur les soins de santé	Partnership technologique de 40,2 millions de dollars (2023)

Fabricants d'équipements médicaux et d'équipement de soins de santé

Fabricant	Type de partenariat	Approvisionnement annuel
Medtronic	Distribution des dispositifs médicaux	3,2 milliards de dollars d'approvisionnement en équipement médical
Philips Healthcare	Alimentation en équipement de diagnostic	2,7 milliards de dollars en partenariat technologique médical

CVS Health Corporation (CVS) - Modèle d'entreprise: activités clés

DISPOSITION DE MÉDICATION DES MÉDICATIONS DE RETOUR ET DE PRESCRIPTION

CVS exploite 9 633 emplacements de pharmacie au détail au quatrième trimestre 2023. Les volumes de prescription totaux ont atteint 1,7 milliard en 2022. Le segment de la pharmacie au détail a généré 159,9 milliards de dollars de revenus pour 2022.

Métrique	2022 données
Pharmacies totales de vente au détail	9,633
Volumes de prescription	1,7 milliard
Revenus de pharmacie au détail	159,9 milliards de dollars

Services de soins de santé via Minuteclinic et HealthHub

CVS fonctionne 1 100 emplacements minUTEClinic aux États-Unis. Ces cliniques fournissent des services médicaux sans rendez-vous avec un temps de consultation moyen de 15 à 20 minutes.

• Plus de 50 types de conditions médicales traitées
• Vaccinations et services de vaccination
• Projections de base de la santé

Services de gestion des avantages sociaux en pharmacie (PBM)

CVS Caremark gère les prestations de pharmacie pour 94 millions de membres du régime. Le segment PBM a généré 137,3 milliards de dollars de revenus pour 2022.

Métrique PBM	2022 données
Planifier les membres	94 millions
Revenus PBM	137,3 milliards de dollars

Administration d'assurance maladie via Aetna

Aetna, appartenant à CVS, sert 39 millions de membres médicaux. Le segment de l'assurance maladie a généré 86,4 milliards de dollars de revenus pour 2022.

• Plans de santé individuels et en groupe
• Couverture de Medicare et Medicaid
• Assurance dentaire et vision

Plateforme de santé numérique et services de télésanté

La plate-forme numérique CVS prend en charge plus de 10 millions d'utilisateurs numériques actifs. Les consultations en télésanté ont augmenté de 250% entre 2020-2022.

Métrique de santé numérique	Données
Utilisateurs numériques actifs	10 millions
Croissance des consultations en télésanté	250%

CVS Health Corporation (CVS) - Modèle d'entreprise: Ressources clés

Réseau de pharmacie au détail étendu

CVS Health exploite 9 633 emplacements de pharmacie au détail aux États-Unis à partir de 2023. Le réseau comprend:

Type de pharmacie	Nombre d'emplacements
Magasins de pharmacie CVS	9,633
Emplacements minUTCLINIC	1,100

Technologie de santé avancée et infrastructure numérique

Les ressources technologiques de CVS Health comprennent:

• Plateforme de santé numérique avec 55 millions d'utilisateurs actifs
• 4,1 milliards de dollars investis dans la technologie de santé numérique en 2022
• Système avancé de gestion des ordonnances

Reconnaissance de la marque et ressources intellectuelles

Évaluation de la marque CVS Health et ressources intellectuelles:

Métrique de la marque	Valeur
Classement de la valeur de la marque	37e mondial
Valeur de marque	31,4 milliards de dollars

Ressources de la main-d'œuvre

Le capital humain de CVS Health comprend:

• Total des employés: 259 500 en 2022
• Pharmaciens: environ 30 000
• Professionnels de la santé: plus de 40 000

Analyse des données et gestion de la santé des patients

Données clés et capacités d'analyse:

Ressource de données	Métrique
Dossiers de santé des patients gérés	Plus de 75 millions
Réclamations de santé annuelles traitées	1,5 milliard

CVS Health Corporation (CVS) - Modèle d'entreprise: propositions de valeur

Solutions complètes de soins de santé et de bien-être

CVS Health propose un écosystème de santé intégré avec 322,5 milliards de dollars de revenus totaux pour 2022, fournissant des services complets dans plusieurs segments de soins de santé.

Catégorie de service	Revenus annuels (2022)
Services de pharmacie	159,9 milliards de dollars
Avantages en soins de santé	127,1 milliards de dollars
Retail / LTC	35,5 milliards de dollars

Pharmacie et services médicaux pratiques et accessibles

CVS exploite 9 633 emplacements de vente au détail et 1 134 emplacements minUteclinic à partir de 2022, offrant un accès général sur les soins de santé.

• Plus de 40 millions de membres de la gestion des avantages sociaux en pharmacie
• Environ 5 millions de membres de l'assurance médicale
• 10 000+ praticiens de la santé dans des cliniques de vente au détail

Prestation de soins de santé intégrés et couverture d'assurance

La filiale Aetna Health Insurance offre une couverture complète avec 75,6 milliards de dollars de primes d'assurance maladie pour 2022.

Segment de l'assurance	Vies couvertes
Assurance médicale	22,1 millions de membres
Assurance dentaire	11,5 millions de membres
Plans d'assurance-maladie	5,4 millions de membres

Gestion de la santé personnalisée et soutien aux médicaments

Les plateformes de santé numérique CVS traitent plus de 1,5 milliard de transactions de prescription par an avec des technologies de gestion des médicaments avancés.

• Services de recharge de prescription numérique
• Programmes d'adhésion aux médicaments
• Consultations de télésanté

Services de santé et de médicaments sur ordonnance rentables

CVS fournit des économies sur ordonnance avec des réductions de coûts annuelles moyennes de prescription annuelles de 15 à 20% par le biais de stratégies de gestion des avantages sociaux en pharmacie.

Stratégie de réduction des coûts	Économies annuelles
Substitution de médicaments génériques	3,8 milliards de dollars
Prix ​​de médicament négocié	2,5 milliards de dollars
Optimisation du réseau de pharmacie	1,2 milliard de dollars

CVS Health Corporation (CVS) - Modèle d'entreprise: relations avec les clients

Programmes de fidélité et suivi de la santé personnalisé

CVS Extracare Rewards Program avec 70 millions de membres actifs en 2023, générant 4,2 milliards de dollars de revenus de fidélisation des clients. Le suivi de la santé personnalisé via des plateformes numériques atteint 45% des membres actifs.

Métrique du programme	2023 données
Membres actifs totaux	70 millions
Revenus de fidélité	4,2 milliards de dollars
Pénétration du suivi de la santé numérique	45%

Application mobile numérique et gestion de prescription en ligne

Application mobile CVS Pharmacy avec 35 millions d'utilisateurs actifs. Gestion des prescriptions en ligne Traitement 150 millions d'ordonnances numériques par an.

• Utilisateurs d'applications mobiles: 35 millions
• Prescriptions numériques traitées: 150 millions par an
• Taux de recharge de prescription numérique: 68%

Services de support client en magasin et virtuel

CVS exploite 9 900 emplacements de vente au détail avec un support client intégré. Services de télésanté virtuels soutenant 15 millions de consultations de patients en 2023.

Canal de support	Volume 2023
Lieux de vente au détail	9,900
Consultations de télésanté	15 millions

Recommandations et interventions de santé personnalisées

CVS Aetna Health Platform offrant des interventions personnalisées à 22 millions de membres avec des programmes de gestion des conditions chroniques.

• Membres de la gestion des conditions chroniques: 22 millions
• Taux d'intervention pour la santé personnalisé: 62%
• Économies annuelles moyennes par membre: 1 245 $

Épreuves de santé régulières et initiatives de soins préventifs

CVS Minuteclinic offrant 25 millions de dépistages de santé préventifs par an sur 1 100 emplacements.

Métrique de soins préventifs	2023 données
Emplacements minUTCLINIC	1,100
Projections de santé annuelles	25 millions
Services de vaccination	12,5 millions de doses

CVS Health Corporation (CVS) - Modèle d'entreprise: canaux

Emplacements de pharmacie au détail à l'échelle nationale

Depuis 2024, CVS exploite 9 478 emplacements de pharmacie au détail aux États-Unis.

Type de canal	Nombre d'emplacements	Couverture géographique
Pharmacies de vente au détail	9,478	50 États américains
Emplacements minUTCLINIC	1,135	33 États

Plateformes numériques en ligne et mobiles

Les plates-formes numériques CVS comprennent:

• Site Web cvs.com
• Application mobile CVS
• Gestion de prescription numérique

Statistiques de la plate-forme numérique:

Canal numérique	Utilisateurs actifs mensuels
Application mobile CVS	24,3 millions
Cvs.com	42,7 millions de visiteurs mensuels

Centres de santé de rendez-vous minusculaire

CVS exploite 1 135 emplacements minUteclinic dans 33 États.

Services de télésanté et de consultation virtuelle

Les services de télésanté CVS fournissent:

• Consultations de soins primaires virtuels
• Services de santé mentale
• Gestion des conditions chroniques

Service de télésanté	Consultations annuelles
Soins primaires virtuels	3,2 millions
Services de santé mentale	1,8 million

Canaux de marketing direct et de communication client

CVS utilise plusieurs méthodes de communication directe:

• E-mail marketing
• Notifications SMS
• Recommandations de santé personnalisées

Canal de communication	Utilisateurs enregistrés
Liste de marketing par e-mail	68,5 millions
Alertes de santé SMS	42,3 millions

CVS Health Corporation (CVS) - Modèle d'entreprise: segments de clientèle

Consommateurs de pharmacie au détail

Depuis 2023, CVS Health exploite 9 633 emplacements de pharmacie au détail aux États-Unis. L'entreprise dessert environ 5 millions de clients par jour grâce à son réseau de pharmacies de vente au détail.

Caractéristiques du segment de la clientèle	Total des clients	Dépenses annuelles
Consommateurs de pharmacie au détail	1,8 milliard de prescription remplissent chaque année	292,5 milliards de dollars de ventes au détail total

Les personnes ayant des besoins d'assurance maladie

La division CVS Aetna Health Insurance couvre 22,1 millions de membres médicaux en 2023.

• Inscription du marché individuel: 3,4 millions de membres
• Plans d'avantages Medicare: 4,6 millions de membres
• Assurance de groupe commercial: 14,1 millions de membres

Patients de gestion des maladies chroniques

CVS gère les services de santé pour environ 5,5 millions de patients souffrant de maladies chroniques.

Condition chronique	Population de patients
Diabète	2,1 millions de patients
Hypertension	1,8 million de patients
Maladie cardiaque	1,6 million de patients

Clients de santé d'entreprise et d'employeur

CVS fournit des services de santé à 5 400 clients d'entreprise à l'échelle nationale.

• Fortune 500 Compagnies servies: 2 300
• Petites à moyennes entreprises: 3 100
• Total des employés couverts: 48,3 millions

Bénéficiaires Medicare et Medicaid

CVS sert 12,6 millions de bénéficiaires de Medicare et Medicaid par le biais de divers programmes de soins de santé.

Programme	Bénéficiaires totaux
Avantage Medicare	4,6 millions
Soins gérés Medicaid	8 millions

CVS Health Corporation (CVS) - Modèle d'entreprise: Structure des coûts

Inventaire de la pharmacie et gestion de la chaîne d'approvisionnement

Les coûts de gestion des stocks de pharmacie et de la chaîne d'approvisionnement de CVS Health en 2023 étaient d'environ 186,3 milliards de dollars. La société maintient un réseau de chaîne d'approvisionnement complexe avec la ventilation des coûts suivante:

Catégorie de coûts	Dépenses annuelles
Achat d'inventaire pharmaceutique	142,7 milliards de dollars
Logistique et distribution	23,9 milliards de dollars
Opérations de l'entrepôt	19,7 milliards de dollars

Salaires et avantages sociaux professionnels de la santé

Le total des dépenses de personnel pour la santé CVS en 2023 a atteint 48,6 milliards de dollars, avec la ventilation détaillée suivante:

• Salaires annuels du pharmacien: 6,3 milliards de dollars
• Rémunération des infirmières praticiennes: 2,1 milliards de dollars
• Salaires du personnel administratif: 12,4 milliards de dollars
• Avantages professionnels de la santé: 7,8 milliards de dollars
• Formation et développement: 1,2 milliard de dollars

Investissements technologiques et infrastructures numériques

CVS Health a investi 3,7 milliards de dollars dans la technologie et les infrastructures numériques en 2023, avec des allocations spécifiques:

Zone d'investissement technologique	Dépense
Plateformes de santé numérique	1,2 milliard de dollars
Infrastructure de cybersécurité	624 millions de dollars
Systèmes de dossiers de santé électroniques	892 millions de dollars
IA et technologies d'apprentissage automatique	534 millions de dollars

Entretien de l'immobilier et du commerce de détail

Les coûts de maintenance de l'immobilier et de détail de CVS Health ont totalisé 5,6 milliards de dollars en 2023:

• Loyer et location de magasin de détail: 2,9 milliards de dollars
• Rénovation et entretien des magasins: 1,4 milliard de dollars
• Services publics et opérations: 1,3 milliard de dollars

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour la santé CVS en 2023 s'élevaient à 2,8 milliards de dollars:

Canal de marketing	Dépenses
Marketing numérique	1,2 milliard de dollars
Publicité médiatique traditionnelle	892 millions de dollars
Programmes de fidélisation de la clientèle	436 millions de dollars
Campagnes de marketing direct	272 millions de dollars

CVS Health Corporation (CVS) - Modèle d'entreprise: sources de revenus

Ventes de médicaments sur ordonnance

CVS Health a généré 159,9 milliards de dollars de ventes de médicaments sur ordonnance pour l'exercice 2022. La société a traité environ 1,5 milliard d'ordonnances par an.

Segment de prescription	Revenus annuels
Prescriptions de pharmacie au détail	83,5 milliards de dollars
Prescriptions de pharmacie par correspondance	42,3 milliards de dollars
Prescriptions de pharmacie de soins de longue durée	34,1 milliards de dollars

Frais de gestion des avantages en pharmacie

CVS Caremark a généré 77,4 milliards de dollars de revenus de service de gestion des avantages sociaux en pharmacie (PBM) pour 2022.

• Frais administratifs PBM moyens par membre: 15,20 $
• Lives totales couvertes sous la gestion de PBM: 94 millions

Primes d'assurance maladie

Aetna, détenue par CVS Health, a rapporté 86,9 milliards de dollars de revenus de primes d'assurance maladie pour 2022.

Segment de l'assurance	Revenus de primes annuelles
Assurance commerciale	52,3 milliards de dollars
Assurance Medicare	24,6 milliards de dollars
Assurance Medicaid	10,0 milliards de dollars

Ventes de produits au détail

Le segment de vente au détail CVS a généré 75,2 milliards de dollars de ventes de produits non pharmacy pour 2022.

• Produits de santé et de bien-être: 28,6 milliards de dollars
• Cosmétiques et soins personnels: 22,4 milliards de dollars
• Marchandises générales: 24,2 milliards de dollars

Services de santé et frais de consultation clinique

Les services Minuteclinic et HealthHub ont généré 4,5 milliards de dollars de revenus de services cliniques pour 2022.

Type de service clinique	Revenus annuels
Services de clinique sans rendez-vous	2,3 milliards de dollars
Consultations de télésanté	1,2 milliard de dollars
Services cliniques spécialisés	1,0 milliard de dollars

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.