|CVS Teams Up with MinuteClinic(TM) to Offer Convenient Health Care Services at CVS Locations|
Three MinuteClinic(TM) Sites Will Debut at CVS in June 2005 -- More to Follow
WOONSOCKET, R.I., April 28 /PRNewswire-FirstCall/ -- CVS Corporation (NYSE: CVS) announced today that it has reached an agreement with MinuteClinic(TM) of Minneapolis, Minn. to open three MinuteClinic(TM) locations in CVS stores, two in Minneapolis and one in Annapolis, Md., in June 2005. MinuteClinic(TM) health centers are staffed by Certified Family Nurse Practitioners and Physician Assistants and offer diagnosis and treatment of common family illnesses, such as strep throat and ear, sinus, bladder and eye infections. MinuteClinic(TM) health professionals also offer a series of health screenings for cholesterol, glucose, thyroid and early memory loss, as well as common vaccinations, such as tetanus, MMR and Hepatitis B.
“Our partnership with MinuteClinic™ offers our customers convenient, high quality health care services and is a natural extension of our overall mission. Along with their reputation for high quality health care, we also chose MinuteClinic™ as our partner because of their proven ability to work collaboratively with physicians in the prompt diagnosis, treatment or referral of patients. We look forward to serving our customers with our first three MinuteClinic™ sites in June, with more to follow,” said Tom Ryan, Chairman, President and CEO of CVS Corporation.
"MinuteClinic(TM) staff are certified health care professionals who follow strict clinical protocols in triaging, diagnosing and treating simple health conditions. Each MinuteClinic(TM) also has a physician available on call at all times of operation. In the more than 4 years that MinuteClinic(TM) has been in operation, it has treated over 220,000 patients, with a patient satisfaction rate of over 99%. MinuteClinic(TM) provides prompt, quality care for a limited set of acute conditions," said Dr. Glen Nelson, MD, Chairman of MinuteClinic(TM). "We consider our services to be a complementary adjunct to the traditional health care system. Our model is designed around an electronic medical record that allows the use of decision tree software to ensure conformance with best medical protocols. This system makes available a copy of the electronic record for the patient's long-term care provider."
"The MinuteClinic(TM) model of care represents an effective means of making quality health care services accessible to a wide audience of patients. By providing convenient access to qualified healthcare professionals, you have the ability to positively impact patient outcomes, either in terms of treating a simple health condition or in more quickly identifying a complicated disease state," said William R. Brody, MD, President of Johns Hopkins University.
MinuteClinic(TM) is in-network with most major health care insurance providers in the markets where it operates, which means most patients pay an office-visit co-pay.
"The cost savings represented by the MinuteClinic(TM) format can be significant. When you are able to treat a simple health problem with high quality care in a clinic setting, everyone wins. The patient receives convenient quality care and payors have lower costs," said Dr. Jack Rowe, MD, Chief Executive Officer of Aetna Inc.
"Our agreement with CVS/pharmacy is great news for consumers seeking quick and convenient health care treatment close to their home or workplace and available seven days a week with extended hours," said Linda Hall Whitman, Chief Executive Officer of MinuteClinic(TM). "The local CVS/pharmacy has always been a natural destination for meeting the health care needs of busy families. Adding MinuteClinic(TM) health centers to CVS/pharmacy locations will give consumers easy access to trained health care professionals who are well suited to treat common family illnesses."
There are currently 21 MinuteClinic(TM) sites in Minnesota and Maryland located in both retail and corporate locations. CVS and MinuteClinic(TM) did not disclose the specific terms of their agreement or the number and location of planned future CVS/MinuteClinic(TM) sites.
CVS is America's largest retail pharmacy, operating more than 5,400 retail and specialty pharmacy stores in 36 states and the District of Columbia. With more than 40 years of dynamic growth in the retail pharmacy industry, CVS is committed to being the easiest pharmacy retailer for customers to use. CVS has created innovative approaches to serve the healthcare needs of all customers through its CVS/pharmacy stores; its online pharmacy, CVS.com; and its pharmacy benefit management and specialty pharmacy subsidiary, PharmaCare. General information about CVS is available through the Investor Relations portion of the Company's website, at http://investor.CVS.com, as well as through the pressroom portion of the Company's website, at http://www.cvs.com/pressroom.
Based in Minneapolis, MN, MinuteClinic(TM) opened its first center in a retail location in May 2000. Since inception, it has treated more than 220,000 patients with 99 percent customer satisfaction and has produced substantial savings of health care expenditures and also reduced the time spent by patients seeking treatment for the conditions we are able to address. For more information, please visit http://www.minuteclinic.com.
SOURCE CVS Corporation (CVS)