Fierce Healthcare May 14, 2024
Facing the wrath of upset investors following its first quarter earnings, CVS Health has promised to value margins over members going forward.
First apologizing for last quarter’s earnings, which were plagued by higher-than-expected Medicare Advantage (MA) utilization, CFO Thomas Cowhey told the Bank of America Securities 2024 Health Care Conference crowd that CVS remains a big believer in MA, but noted it will take “a couple years to get back on track.”
“We’re going to start that process with our 2025 bids that go in in just a few weeks,” he said.
Cowhey was tasked with reassuring investors the company would improve margin at any cost, but he didn’t pass up the opportunity to say he believes the recent MA...
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