Creating Shared Value in Health Care
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Redef<strong>in</strong><strong>in</strong>g Corporate Purpose<br />
CVS <strong>Health</strong><br />
• In 2011, CVS redef<strong>in</strong>ed its bus<strong>in</strong>ess around improv<strong>in</strong>g patient health, not just<br />
operat<strong>in</strong>g convenience stores with pharmacies and some health products<br />
• CVS was the first pharmacy to stop sell<strong>in</strong>g all tobacco products <strong>in</strong> 2014, forgo<strong>in</strong>g<br />
$2 billion <strong>in</strong> annual revenue, while launch<strong>in</strong>g a comprehensive smok<strong>in</strong>g cessation<br />
program across all sites<br />
• The role of pharmacists and nurse practitioners was expanded to work more closely<br />
with patients and health care providers to improve health outcomes<br />
• CVS operates a large and grow<strong>in</strong>g network of <strong>in</strong>-store cl<strong>in</strong>ics as a convenient<br />
alternative to traditional doctor’s offices<br />
– Form<strong>in</strong>g partnerships with hospitals, physicians, and employers to <strong>in</strong>tegrate cl<strong>in</strong>ics<br />
<strong>in</strong>to overall care<br />
New Vision<br />
New Mission<br />
We strive to improve the quality<br />
of human life<br />
Help<strong>in</strong>g people on their path to<br />
better health<br />
20160325—HBS Build<strong>in</strong>g a Culture of <strong>Health</strong> Conference —CSV and <strong>Health</strong> <strong>Care</strong> Presentation—FINAL<br />
22<br />
Copyright 2016 © Professor Michael E. Porter
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