MinuteClinic, the retail healthcare business of
), got a major boost with the company's recent clinical
collaboration with MedStar Health - a prominent health care system
that works to provide high-quality, affordable health care
Per the deal, CVS/pharmacy stores and MinuteClinic will continue
to provide clinical support, medication counseling, chronic disease
monitoring and wellness programs to MedStar Health patients.
Additionally, electronic medical record (EMR) and information
systems will be used by CVS Caremark for medication counseling and
chronic disease monitoring services offered to the affiliated
health care providers.
MedStar Health currently has ten hospitals in Maryland and the
Washington, D.C. region. According to CVS Caremark, this
collaboration will improve patient outcomes, lower costs and help
improve medication adherence for patients. For more comprehensive
care, patients can follow up with their primary care provider and
have access to services at the health care provider as they deem
CVS/pharmacy currently has 7,700 retail pharmacy locations
across the U.S. where CVS pharmacists provide counseling to
patients for better adherence to chronic disease medications. Of
the total retail pharmacy locations, more than 860 are MinuteClinic
walk-in medical clinics.
For patients with no regular access to health care, MinuteClinic
provides assistance in looking for a primary care physician and a
greater opportunity for continuity of health care services. With
the latest clinical affiliation with MedStar, the total number of
collaborations comes to 41 major health systems and health care
providers across the country for CVS Caremark and MinuteClinic.
Over the past few quarters, CVS Caremark has been gaining from
growth in its retail business. The company's ExtraCare loyalty
program continues to remain a prime stimulus for over a decade. In
the last reported quarter, the company witnessed massive
improvement in the field of active ExtraCare card. Moreover,
MinuteClinics posted impressive growth (up 24% year over year) with
the addition of 32 new clinics in the quarter. The company targets
more than 1,500 clinics through 2017.
Earlier, the company announced its shift to the Epic EMR, which
will allow it to better integrate records with other hospital and
provider groups. It will also enable MinuteClinic to respond more
quickly to the needs of patients by accelerating the company's
ability to offer new services.
Currently, the stock carries a Zacks Rank #3 (Hold). Some of the
better-placed stocks in the broader Medical sector are Abaxis, Inc.
), Hologic Inc. (
) and Amedisys Inc. (
), all carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
AMEDISYS INC (AMED): Free Stock Analysis Report
HOLOGIC INC (HOLX): Free Stock Analysis Report
ABAXIS INC (ABAX): Free Stock Analysis Report
CVS CAREMARK CP (CVS): Free Stock Analysis
To read this article on Zacks.com click here.