Washington — Karen Lynch, CEO of pharmacy giant CVS Health, spoke about her decision to carry pills for the first time in an interview with CBS News this week.
Earlier this month, CVS and Walgreens announced They plan to dispense the abortion drug mifepristone in states where it is legally allowed. The move comes as Americans face an increasingly complex health care landscape.
“Our North Star as a company is that we are committed to supporting women's health and ensuring that women have access to reproductive health services, education, and FDA-approved products,” Lynch said. “This is our decision because we know women need access to health care.”
Both CVS and Walgreens previously told CBS News that they were approved to dispense the pills following regulatory changes by the Food and Drug Administration. CVS said the pills cost $79 but may be covered by insurance for some patients.
Arguments are scheduled in the Supreme Court next week. inside the case The lawsuit was filed by anti-abortion rights physician groups and physicians seeking a temporary suspension of the FDA's action. Mifepristone approvalhas been in place since 2000.
How CVS responded to the UnitedHealth cyberattack
Last month, UnitedHealth Group suffered This is one of the largest cyberattacks ever to hit the U.S. healthcare system.This attack resulted in payments being frozen. medical facility Infections have spread across the country, leading to delays in patients being able to pick up their prescriptions. The effects of the attack continue to be felt.
Lynch said that after learning of the breach, he assembled the CVS Cyber Team to look for vulnerabilities in the system and make adjustments.
According to Lynch, CVS “[a] They have invested significant funds to ensure that our data, technology and systems are protected, and they are “doing their best to prepare for any potential cyber-attack.”
Asked in an interview with CBS News why everyday items like shampoo and toothpaste were being locked up in CVS stores, Lynch said the reason was “organized retail theft.”
“We're trying to keep things safe and our employees safe,” Lynch said. “Sometimes you have to keep things secret. I don't like that, and I know our customers don't like that either.”
Lynch said she listens intently to customer feedback and reads all letters sent to CBS News.
“It's very time consuming,” Lynch said. “But it gives us context about what's going on in our company.”
CVS aims to expand its business
Under Lynch's stewardship, CVS has sought to expand into primary care.Obtained oak street health Acquired in May last year for $10.6 billion, and entered into an acquisition agreement in 2022. show health For $8 billion.
She says she has also worked to make mental health services more accessible. This is a personal priority. Ms. Lynch suffered from depression and schizophrenia and her mother died by suicide, leaving her an orphan when she was 12 years old.
CVS currently provides mental health services in 14 states. The company said there were fewer than 200,000 virtual mental health visits through CVS in 2019. Since then, that number has skyrocketed to 43 million.
“One of the areas we're very focused on is making sure people have access points to get the care they need,” Lynch said. “But the first thing we have to do is eradicate the stigma around mental health.”
CVS overcomes pharmacist burnout
Last September, CVS pharmacists I quit my job Demonstrations were held at about 12 stores in the Kansas City, Missouri, area to protest labor conditions, including understaffing.
“It wasn't necessarily a strike, it was more of a headline,” Lynch told CBS News, adding that the company had raised wages “by $1 billion over the last two years” and improved technology. We are working to increase the number of pharmacists assigned by implementing “Training and Development”.
Last month, CVS agreed to pay about $1.5 million in fines with the Ohio Board of Pharmacy to resolve 27 lawsuits related to alleged violations at about 24 CVS pharmacies. The commission said much of this was related to staffing shortages.
“Allegations include inadequate medication safety, dispensing errors, late prescriptions, general lack of cleanliness, understaffing, and failure to report lost controlled substances,” the state commission said. .
“We will continue to assess what's going on and make sure we have pharmacists and pharmacy technicians at the pharmacy counter for our patients,” Lynch said in a statement addressing concerns about working conditions.
Lynch believes affordability is the biggest challenge facing the healthcare industry today.
“Health care in this country is complex,” Lynch continued. “We are on a path to improving affordability, improving quality, and reducing costs. We are not there yet… We have made meaningful progress. We need to make further progress.”
CVS CEO's personal journey
When Lynch was named CEO in 2021, she says the question was not about her skills but her ability to play the role.
“I've been told I'm too short, I've been told I'm too blonde, I've been told I'm petite and my voice isn't deep enough for this day and age,” Lynch said.
Last year's Fortune 500 named her America's most powerful female CEO. Her new book, “Taking up Space,” chronicles her growth within the healthcare industry.
“We shouldn't be ashamed of our past experiences, because there are always going to be setbacks and experiences,” Lynch said. “Your future should not be sentenced to life in prison.”
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