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CVS Health Corporation (CVS) Q1 2023 Earnings Call Transcript

May 03, 2023 10:39 AM ETCVS Health Corporation (CVS)1 Comment
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CVS Health Corporation (NYSE:CVS) Q1 2023 Earnings Conference Call May 3, 2023 8:00 AM ET

Company Participants

Larry McGrath - SVP, Business Development and IR

Karen Lynch - President and CEO

Shawn Guertin - EVP and Chief Financial Officer

Kyle Armbrester - CEO, Signify Health

Mike Pykosz - CEO, Oak Street Health

Daniel Finke - EVP and President, Health Care Benefits

Michelle Peluso - EVP and Chief Customer Officer and Retail Co-President

Prem Shah - EVP and Chief Pharmacy Officer and Retail Co-President

David Joyner - EVP and President, Pharmacy Services

Conference Call Participants

Albert Rice - Credit Suisse

Lisa Gill - J.P. Morgan

Justin Lake - Wolfe Research

Michael Cherny - Bank of America

Eric Percher - Nephron Research

Kevin Caliendo - UBS

Brian Tanquilut - Jefferies


Ladies and gentlemen, good morning and welcome to the CVS Health First Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the prepared remarks at which point we will review instructions on how to ask your questions. As a reminder, today’s conference is being recorded. I would now like to turn the call over to Larry McGrath, Senior Vice President of Business Development and Investor Relations for CVS Health. Please go ahead.

Larry McGrath

Good morning and welcome to the CVS Health first quarter 2023 earnings call and webcast. I am Larry McGrath, Senior Vice President of Business Development and Investor Relations for CVS Health. I am joined this morning by Karen Lynch, President and Chief Executive Officer and Shawn Guertin, Executive Vice President and Chief Financial Officer.

Following our prepared remarks, we will host a question-and-answer session that will include additional members of our leadership team. Daniel Finke, President of our Healthcare Benefits segment; Michelle Peluso, Chief Customer Officer and Co-President of our Pharmacy

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Comments (1)

So they're shooting for some new synergies with Signify and Oak Street, and putting the Minute Clinics in with them. This is, IMHO, a sign that the whole Minute Clinic idea has not really panned out. Buying out Signify and Oak Street instead of building up from scratch was an expensive choice. I'm not sure what this "risk coding" is all about, I may go research that a bit, it's one of those things that sounds good but has infinite problems in practice, but of course this affects the Aetna side already too. SMH. I have some faith in CVS as a good organization to make these attempts, but I do not wish to underestimate the, well, risk involved!
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