CVS Health Corp. CVS 5.69% says it needs doctors on its payroll to fulfill long-held ambitions of becoming a major provider of healthcare services.
The nation’s largest drugstore chain has worked for years to build an integrated healthcare system centered on pharmacists, in-store clinics and a massive insurance business. But until recently, the company’s plans have stopped short of including physicians.
On Wednesday, CVS Chief Executive Karen Lynch said the company is working with “speed and urgency” to create physician-staffed primary-care practices, which she said will be a priority for CVS as it considers potential acquisitions in the coming year.
“Primary care isn’t a big medical cost but it wields a lot of influence,” Ms. Lynch said in an interview, referring to the role physicians can play in lowering insurers’ costs.