WOONSOCKET, R.I. — CVS Health today was recognized by Fortune magazine as one of the World’s Most Admired Companies for the fifth consecutive year. CVS Health was honored as No. 35 on the annual rankings of the world’s most respected and reputable corporations, up four spots from 2018. The company was also ranked No. 1 in the Health Care: Pharmacy and Other Services category.
Fortune’s Most Admired Companies lists are among the most highly respected indicators of corporate performance and reputation, and rate companies on various attributes including the ability to attract and retain talented people, quality of products and services, quality of management, innovation, social responsibility, and investment value.
“CVS Health is proud to once again be recognized by Fortune, as we work to transform the consumer health care experience and build healthier communities,” said Larry Merlo, CVS Health president and chief executive officer. “As health care innovators, we’re committed to making health care more local, affordable and easier to use for individuals and families across the country, while supporting communities with the resources and solutions they need to address their unique health care needs. That commitment and our recognition as one of the “World’s Most Admired Companies” are reflected in the dedication of our 300,000 colleagues who deliver everyday on our purpose of helping people on their path to better health.”
Over the past year, CVS Health has taken a number of steps to strengthen the health of communities nationwide, including helping to solve for the nation’s opioid epidemic. CVS Health has increased access to safe medication disposal units inside many CVS Pharmacy locations, and has donated additional disposal units to police departments across the country. By the end of 2019, the company will have more than 2,700 in place, which have collected more than 650,000 pounds of unused medications that could otherwise be diverted, abused or contaminate the water supply if disposed of improperly. In addition, our pharmacists throughout the U.S. have reached 450,000 students and parents, educating them on the dangers of prescription drug abuse through a program called Pharmacists Teach.
To address the rising costs of prescription drugs, CVS Health has deployed technology to make drug prices more transparent to both prescribers and patients. Through the company’s Real-Time Benefit platform, prescribers using the information are switching CVS Caremark member to a lower-cost preferred alternative medication 40 percent of the time, resulting in an average savings of $130 per filled prescription, compared to the original drug selected.
In pursuit of even bolder solutions to address the country’s major health care challenges, CVS Health completed its historic acquisition of Aetna in November 2018, creating a combined company that will help remove barriers to high quality care and build lasting relationships with consumers, making it easier for consumers to access the information, resources and services they need to achieve their best health.
Earlier this month, CVS Health announced a $100 million commitment to making community health and wellness central to the combined company’s charge for a better world. The new Building Healthier Communities initiative, which will be funded over five years through the combined company as well as the CVS Health Foundation and Aetna Foundation, builds upon the outstanding tradition of community investment by both organizations.
In addition, CVS Health and Aetna employees have pledged a minimum $10 million in value of volunteer hours each year, offering their time and expertise to creating healthier, more sustainable communities.
The recognition by Fortune magazine is the latest in a series of third-party acknowledgments for CVS Health, including: Forbes Most Valuable Brands; Corporate Responsibility Magazine’s 100 Best Corporate Citizens; Human Rights Campaign’s Top Places to Work for LGBT Equality; Points of Light’s The Civic 50; Military Times Best for Vets; Newsweek’s Green Ranking of America’s Greenest Companies; and DiversityInc’s Top 50 Companies for Diversity.