2022 Annual Review     |

Driving business performance through digital transformation.

2022 has been an important year for CVS Health in advancing our digital-first technology-forward approach to health care. We are making health care more seamless with new capabilities and innovation at scale. By connecting face-to-face and virtual experiences and enhancing personalization we are strengthening our leadership position in digitally connected experiences. We are also modernizing our applications, migrating workloads to the cloud and using advanced data analytics and artificial intelligence to create differentiated consumer experiences that drive lower costs and achieve better outcomes.

Improving access with CVS Health Virtual Care

More people are accessing health care using digitally-enabled solutions. The launch of our CVS Health Virtual Care offering, which connects our services, clinical expertise, and data on a single digital platform, is one example of how we are innovating at scale. By providing both primary care and mental health services virtually, we are breaking down barriers to accessing high quality care.

We also launched new services as part of our omni-channel strategy and expanded our digital-first health offerings. In the pharmacy, we made meaningful progress enhancing the digital experience for our consumers. We developed and introduced a new functionality that drives choice and convenience for consumers filling prescriptions and increases visibility into their out-of-pocket costs. In the front store, we expanded our e-commerce offerings and launched our buy-online, pickup in store fulfillment option, enabling consumers to purchase health and wellness products online with an option for free, same-day pickup at our community health destinations nationwide.

Growing our customer base

Our digital customer base continues to grow. CVS Health now serves more than 47 million unique digital customers. Our digital customers are omni-channel and, on average, are twice as engaged as non-digital customers and drive higher margins.

We have a tremendous opportunity ahead to broaden and deepen our connection with consumers by creating personalized and connected experiences that lead to greater engagement, better outcomes and higher satisfaction rates.

Helping people on their health care journeys

Quality care when you need it

Virtual video-based care through MinuteClinic Virtual Careā„¢ makes it easy and affordable to see a qualified provider anytime. We treat patients 18+ months for illnesses and injuries, and we provide mental health counseling in select states.

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2022 Annual Review

CEO Message

Financial Highlights

Strategic Imperatives

Value-Based Care

Digital Innovation