Whether or not its pending $68 billion purchase of Aetna gets finalized, CVS Health will pump big bucks into broadening its menu of healthcare services and personalizing them for consumers. And a key component of its plan is a data-analytics strategy steeped in AI.
The announcement came June 4 at a meeting CVS brass held for investors.
“Uniting CVS Health with Aetna provides us direct access to an unparalleled breadth of data,” CEO Larry Merlo said, according to coverage posted at HealthExec. “Our aim here is simple: to turn data into insights and insights into action.”
While the deal with Aetna is still under antitrust review, CVS is already moving ahead with a pilot program drawing on shared data to expand its in-store Minute Clinics into further-reaching “HealthHub” sites.
Meanwhile ZDNet blogger Larry Dignan quotes CVS’s chief operating officer, Jonathan Roberts, who put some meat on the data bone at the June 4 meeting.
“By applying a wide range of analytics to our integrated data including machine learning and artificial intelligence, we will be able to generate meaningful insights to drive growth, improve our business performance and execute against our strategy,” Roberts said. “[T]hese valuable insights will give us the ability to inform individuals about their next best health actions.”
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