https://investors.cvshealth.com/investors/events-and-presentations/event-details/2024/Bank-of-America-2024-Healthcare-Conference-2024-bdhu51r6Fl/default.aspx
7 replies (most recent on top)
I’m waiting to see “it’s okay” displayed as a mathematical representation of expectations.
What I am expecting is continued loss of trust and inability to regain that 5th star and additional premium. Cue the Death Star ⭐️ music.
What if it's more than 10% they lose? What if it's 20%? To say oh it's only a 10% loss of membership that's acceptable, is sure playing it fast and loose. It feels like CVS is playing with fire right now and if you play with fire you get burnt. Plus, sorry we sc--wed up isn't going to help those at the bottom who will suffer the most from all these cutbacks that have to be made to prevent the ship from sinking.
Aetna plans are already embarrassingly skimpy. Will they still be ACA compliant if they cut more?
“The goal for next year is margin over membership,” CVS CFO Tom Cowhey said at the conference, hosted by Bank of America. “Could we lose up to 10% of our existing Medicare members next year? That’s entirely possible. And that’s OK, because we need to get this business back on track.”
https://www.statnews.com/2024/05/14/cvs-aetna-medicare-advantage-cut-benefits/
how does it impact Senior Engineers who are remote?
short answer, Tom C admitted they F'd up with the 1st qtr results and the problems will continue for some time as they hammer utilization and price. The result might be a 10% drop in MA enrollment next year. The stock dropped another 2 pts since the call. The hits just keep coming!
For us lazy EE's can someone that has registered to access the recording summarize the important takeaways?