In 2019, CVS Health announced that its MinuteClinic virtual Video Visit program was available in 39 states. Last month, CVS Health finalized itsacquisition of Signify Health, which opens the door for virtual medical services throughout the U.S. In an earlier news release, just before the final stitches in the acquisition, Signify Health identified itself as “a leading health care platform that leverages advanced analytics, technology, and nationwide healthcare provider networks to create and power value-based payment programs.” In plain language, the company’s stated goal is to bring healthcare to the patients.
Don’t expect to see hospitals or large clinics with Signify Health or CVS Health on a marquee. According to an 2021 investor statement, about 85% of the U.S. population lives within 10 miles of a CVS retail store. In buying Signify Health, CVS picks up more than 10,000 clinicians, along with telehealth services, remote patient monitoring, virtual visits, increasingly accurate remote biometric sensors, and Signify Health’s countrywide network of healthcare professionals. What we can expect is a push to drive healthcare delivery out of clinical settings and into homes. CVS Health also benefits from the large group of clinicians who will be ordering tests, writing prescriptions, and accessing the existing CVS Health services.
According to CVS Health, the average Signify Health clinician home visit lasts 2.5 times longer than the average visits by traditional primary care providers. When they make home visits, the clinicians can also observe social determinants of health, identify gaps in care, and identify chronic health conditions. It will be interesting to observe possible changes in overall U.S. healthcare service delivery effectiveness and cost savings from Signify Health and other healthcare-at-home providers.
