Sorry about asking this during tough times.. but I’m an amateur to corporate, just wondering -considering all the dumpster fire decisions CVS has made recently… could it be start of a downfall?
I know it’s too big… but could it lead to a total downfall? Unless of course there is big changes in leadership, management etc.
16 replies (most recent on top)
@lir+1o7rIBja You make an interesting point, but remember that this is CVS we're talking about. Watch how they are going to run the new acquisitions Signify and Oak st. Cost cutting will dominate how the newest CVS companies are run. As in constantly having to do more with less, in addition to impossible metrics they'll put on the new companies.
Just running things the CVS way will sink these new acquisitions. Don't believe me? Just look at how they run the stores.
I mean, I'm not sure I'm on board with the idea Amazon is becoming less relevant. CVS minute clinic charged $70 to treat pinkeye. Amazon and teladoc $40 for faster turn around and no unnecessary video calls where not required by law. Plus, Amazon has the bulk pharmacy logistics to heavily discount the scripts. CVS needs to think about getting young people and old people in the ecosystem--and not at $70. CVS needs to think about creating value services for vanity -- like hair loss dr-gs and ED meds. Those services sell across demographics. They need to be thinking iPhone, not blackberry.
It's cute when people say baby boomers and seem to think those are mainly people in their 50's- 'cos that's _old_, right?? Most of the baby boomers retired 10+ years ago, there are just a small slice of them left.
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How old are baby boomers? In 2023, baby boomers are celebrating birthdays between the ages of 59 and 77.
They won't go under , They will restructure everything. their new focus is going to be health care, in general and specifically home care for medicare patients. Less focus on pharmacy, less focus on insurance, more focus on getting the 10K Mds and nurse practitioners employed at signify to bring in medicare dollars. It's no accident they stopped buying up small pharmacies and started buying up things like signify and oakstreet. It's a total and complete change in direction. Just in time for the mass of baby boomers retiring. and moving into medicare. Lots of money to be made there. Watch.
@bzy+1o7rIBja And yet CVS is still worried about Amazon.
Amazon pharmacy has been failing left and right and has had just as significant layoffs to their org if not more in the past couple years. Fearing the threat of the Amazon takeover has been something people have said for the past 10 years only Amazon pharmacy has become less relevant not more.
CVS feels the threat of Amazon Rx taking over the pharmacy business. Many of the CVS locations are half stocked. People hate their self checkout system. It’s only a matter of time, they are doomed.
Drive it into the ground Walgreens knows the age of chain pharmacies is over.
IBM Watson Health did the same things as I see CVS Health doing today, including spending billions on acquisitions that were bleeding money (unprofitable).
If you read the news, you know how that all worked out.
Yes, those who are saying CVS is in trouble are right. I don't know why people can't see it. It feels like every move CVS makes, and every company CVS buys is simply an attempt to delay the inevitable. Upper management doesn't have a clue how to stop the bleeding. Things went downhill the moment Larry became CEO, and they've been going downhill ever since. And Karen is simply Larry 2.0, only worse.
Read the 10k. There is a lot of litigation. A lot was pilfered from CMS - the Medicare Trust. Retail Pharmacy has declining profits, theft, and the need for refurbishment. PBMs are despised. The margins at Caremark are low. This is a $170 Billion Enterprise with minuscule margins, bad management and potentially declining revenue. All of the hopes are pinned on Signify and Oak Street. This is a long term problem. One of the top in house accounting guys sold $ 25 million in shares last week. Insider purchases mean little. Insider sales mean a lot.
So true,,, I left last year. It was the best thing I did for my stress and mental health. They were so cruel to folks and never respected the Aetna knowledge base they had right in front of them. One year retired and loving life without “CVS” ….
There is no total downfall option. It’s literally a sacrifice play while they deal with managing a healthcare company in a time when everyone is healthy. The pandemic just masked the fiscal realty behind momentary gains. Now that’s done, they have to contend with leaning out a pandemic fattened company and get down to fiscal stewardship. Cruelty of the manner in which they do it aside, it’s just business. Not a chapter 11 situation.
Yes!!! They already DO NOT have enough staff. After layoffs they definitely won’t have enough.
No. Stop the hyperbole
I hope this is the beginning of their downfall. When CVS took over Aetna, it started to go downhill but there is absolutely no higher up who cares about us little workers. I hope all employees start to see how little we mean and decide to leave this horrible company.