Healthcare DIVE August 7, 2024
On Wednesday, CVS slashed its earnings guidance for the third time this year, announced a plan to cut $2 billion in costs and fired the head of its insurance division Aetna.
Dive Brief:
- CVS slashed its earnings guidance for the third time this calendar year as rising medical costs continue to pressure the bottom line of its insurance segment Aetna, according to financial results released Wednesday.
- The Rhode Island-based healthcare behemoth, which has struggled since last year to manage the costs of Medicare seniors returning for care, also announced a plan to cut $2 billion in costs over the next few years — and fired its top insurance executive.
- CVS is removing Brian Kane, the head of Aetna, citing...
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