Healthcare Innovation November 11, 2024
Says new CEO David Joyner of Oak Street: “The fact is the model works.”
CVS Health Corp.’s big healthcare delivery acquisitions from 2023 were a bright spot for the Rhode Island-based holding company in the third quarter, when its Aetna insurance division delivered a big loss.
In the three months ended Sept. 30, CVS posted a net profit of just $71 million, down from more than $2.2 billion in the same period of 2023. Operating income fell to $832 million from nearly $3.7 billion as Aetna incurred an operating loss of $1.2 billion due to costs spiking because of a rise in use by patients, particularly those on Medicare Advantage plans—something other insurers also have had to deal with this...
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Topics: Provider