Healthcare Finance News November 6, 2024
CEO David Joyner put much of the onus on the poor performance on elevated utilization coming out of the pandemic.
CVS Health saw revenues climb 6.3% as compared to last year, posting $95.4 billion in revenue for the third quarter, even as its health benefits segment underperformed, due principally to high utilization.
The company has generated year-to-date cash flow from operations of $7.2 billion, and announced Q3 GAAP diluted EPS of $0.07 and Adjusted EPS of $1.09. But on an earnings call Wednesday morning, CVS Health President and CEO David Joyner, who took leadership of the organization last month, said the health benefits segment, led by Aetna, “remains challenged.”
Aetna’s revenues hit $33 billion in Q3, up from $26.3 billion...
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