I keep hearing we will be product based instead of project based. I wish I knew what that meant in the practical sense. No PMs no BAs no QA. What does that look like
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CVS management knows nothing... I swear they are just trying to set the company up to sell it because there is no more COVID money from the government
An International Company with mostly Asian workers like 90-95%. Get on the bus because Wall Street wants more from less all dem Boomers want their money 💰. Boomer nation is about to go out of Health care and Banks to the "Official Bank of Donald J Trump" and American First Insurance owned by Donald J Trump. If you haven't seen it it's got a A+ BBB rating and 111 years of existence. It will allow you to see any doctor you want, no hold ups and covers cosmetic surgery. The Boomers are mad as He-l and want theirs.
I agree with the poster that stated Super App is a dream that's been kicked around for years. The App is a dream, but the business model does work. The challenge is scalability. I've actually seen this fully integrated model work in rural areas, and it can be quite effective. One Healthcare system uses their large campuses to provide most of the care to a regional population. From primary care, acute care, post acute, and surgical services. Get this, they even offer their own health insurance. Coinsurance is 10% when using branded services that are directly affiliated with Healthcare system. They can only do that because the care is provided in their network.
Really, one needs to be a visionary and to have seen it in practice to appreciate what it could accomplish. The aetna acquisition allowed CVS to track and trend provider services. It can duplicate those services, and then offer their own plan design that integrates signify and oakstreet into a model where costs are less for the company since the member would be using in-house clinical services. No non-par vs par hassle, and the business would only have to deal with external providers when the members'needs exceed the capability, which might be often to begin with. However, that would eventually be mitigated because the company could add new services as it grows.
This could work, but it will be the long game. A startup really won't have the brand recognition to steward members into this new offering. It will already be difficult enough for people to "keep their doctor" in this type of model. So a startup is a nonstarter, pun intended.
I still believe CVS is leaving a lot of innovation on the table by not also targeting younger people to get them in the ecosystem. I've said it before, but they need to be thinking iPhone -- not blackberry. They've got to get into the vanity market of treating less complex things; i.e., hair loss, ED, simple dermatology services, etc. Get the next generation familiar with it. Yes, the company is positioning itself to take care of the wave of older people that will grow exponentially in the coming years, but they need to consider more growth.
Being Product focussed does not mean no PM, BA, QA.
It means that rather than just reacting on a whim and building random things, what gets built next is strategic and based upon reviewing customer requests, market and business needs, and pushing the product into places it can't solve problems for today.
And then what gets built is a collaboration between Product, Project management, BA, Dev/ QA.
One problem with Super App and the healthcare dreams packaged with it is that it's one of those concepts people have been kicking around for years. Why is it suddenly a thing? If they put necessary resources at work it's going to hurt the financial picture longer than the market will tolerate, and by the time they finish the metaverse type solutions will be out competing with their aging tech. They would be better off funding a nimble startup operation that can think much further ahead.
Karen is running this once profitable and long term buy into the ground. Stock is down 30% over the girl squad years. At some point, the board will need to do the right thing and layoff the layoff-in-chief.
With this CEO, very little chance to right the ship. She is in over head.
Yeah they don't care. Scooping up the money pockets are deep at the top. Need a new speedboat, a vacation in the Alps, a world tour of businesses and lobbying the Saudis to buy them out.
Regarding offshoring-you get why you pay for. Low pay =Low quality work/service
Stores, Insurance, Pharmacy, PBM, finished they are outsourcing it to drive into the ground. Soon all the jobs will be offshored. The company is going to save billions. Like said before but I actually think they are going to create an AI system that has no actual people working unless in India, coordinate all this and become a Doctors office. Meanwhile the CEO will be on TIME magazine as the person who single handedly changed health in America.
They just laid off many of the people who had the ability to shepherd these integrations to fruition. The current senior management is not up to the task to integrate their acquisitions into a vertically integrated healthcare organization.
Like it or not, integrating all of these business units into a cohesive entity is a series of projects, and CVS just let many of their best business project managers and executives go. Rather than integrating these businesses, the current senior executive cadre are creating independent silos, with no one capable of working between them. CFO Shawn Guertin admitted that Wall Street believes CVS can't execute. And they just shot themselves in the foot by firing the few employees left who knew how to integrate businesses into CVS.
Great plans, but doomed to failure by the current insular management.
It looks like any well-ran fortune 500 company that actually MAKES something. The product CVS is going to be selling is Healthcare. Complete, vertically integrated healthcare. The exception will be acute care, or hospital/ surgical services.
They'll directly employ providers in the minute clinic, oakstreet, signify, etc. They'll employ all the clinical and ancillary staff. They will make providers cross sell programs, push CVS pharmacy order fulfillment -- the works. They want to be the primary care hub.
Oh, you're too sick to leave home? We have home visits. Oh, you need a bone density scan? We do that. Basically, everything through their primary care service. Then evolution: Oh, you need the cardiologist? We can connect you with telemedicine cardiology service. Essentially, they want to become gatekeeper. This model would control cost by insulating where you receive care, but demonstrate value by having better outcomes because ideally everyone will be collaborating -- at least that's the idea. To me, it's akin to a mega-corporate version of an accountable care organization.
Go see my reply about about how this company operates on 2-3% profit margins and how diversification is really the only way to continue growing. This company can't operate like it has some penultimate intellectual property portfolio for managing prescriptions and negotiating contracts. Because it doesn't. The company, as it stands, is a glorified policy and business portfolio. If it gets into a business where it could actually grow, and not have to live and die by the next "big contract," then it could be something innovative.
Their idea of 'super app,' and fully integrated Healthcare is ambitious. It will be an arduous journey. I'm not sure they have all the right people in leadership at the moment to accomplish this. Leadership will have to work extremely close with these new acquisitions to figure out how to meaningfully integrate them into the company. These are acquisitions, not partnerships. So there's definitely some DNA mutation and integration that has to go on across the board. They'll f*u-k up, guranteed. One can only hope they learn and move forward as they go to this vision.