Dive Brief:
- CVS Health will deploy technology that can drive simplicity while delivering better customer experiences as one of its top priorities, executives said on a Q4 2024 earnings call Wednesday.
- The healthcare company’s pharmacy business achieved record high net promoter scores, according to CVS Health President and CEO David Joyner. Same store pharmacy sales increased 13% year over year in the fourth quarter, according to an earnings report.
- CVS made several changes to improve its pharmacy experience, according to a white paper released Wednesday. Updates include improving the point-of-sale system to reduce wait times, improving the in-store interactive voice response system and implementing technology that helps pharmacists interact with customers proactively.
Dive Insight:
Joyner, who took on the CEO mantle in October, highlighted simplicity and transparency among the most important elements of a good healthcare experience.
“Our teams are focused on delivering on our mission, and we are working hard to directly address the challenges in the healthcare system,” Joyner said during the call. “We are using tools across our enterprise to deliver exceptional value and differentiated experiences to our customers and clients.”
One of the company’s most important tools is the CVS Health app, which replaced the CVS Pharmacy app in January. The updated app lets customers access appointment information, copay details and prescription status, according to Joyner.
CVS is also testing the ability to unlock secured display cabinets through the app. Other improvements include an AI search function to help shoppers find information, and the company plans to launch a conversational AI chatbot for pharmacy questions later in the year.
The healthcare company is leveraging AI internally as well to create more intuitive workflows and reduce turnaround times with the goal of reducing customer frustrations, according to Joyner.
“We can be America’s leading and most-trusted healthcare company, a company that measures itself by its ability to improve outcomes, increase access and lower the cost of care while ensuring a consumer experience that we can be proud of,” he said.
The pharmacy investments helped drive 4.2% year-over-year revenue growth for the company in fourth quarter 2024, reaching $97.7 billion.
The drive for better experiences isn’t new for CVS. The company is in the midst of a multi year CX transformation that has tapped into customer feedback to improve results.
