CVS pulled tobacco products from the shelves of its 7,700 stores – and forfeited an estimated $2 billion in revenue – earlier than expected. It’s also illustrating the retail pharmacy industry’s push to become part of the front lines of healthcare by changing its name from CVS Caremark to CVS Health.
As more patients flood the healthcare system armed with health coverage under the Affordable Care Act, retail pharmacies see an opportunity to provide basic care outside of a physician’s office beyond just flu shots and blood pressure readings.
This is CVS’s latest move to reposition itself as a one-stop shop for consumer health. Earlier this year, CVS announced it was working with Epic Systems to bring ambulatory electronic health records to its MinuteClinics. And it’s involved with dozens of partnerships with healthcare providers in an effort to become part of integrated delivery systems and help manage population health. Competitors Walmart, Walgreens and Rite Aid have all made some kind of efforts to expand their services as well.
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CVS CEO Larry Merlo has said that selling tobacco conflicts with the notion of health that CVS is trying to convey. One health network CEO told the New York Times that banning tobacco sales made the retailer a more attractive partner.
In place of cigarettes, CVS will now offer smoking cessation programs through its pharmacies.
To help with the rebranding, the retailer also launched a social media campaign, #OneGoodReason, inviting people to share how smoking and tobacco has affected their lives.
MinuteClinic president Andrew Sussman, CVS Chief Scientific Officer William Shrank and CVS Chief Medical Officer Troyen Brennan wrote a thorough rationale for the move that’s worth a read over at Health Affairs Blog.
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[Image credit: Twitter user TMerck4]
