Alternative Headline: CVS Joins CMS Digital Health Push
[MM Curator Summary]: CVS Health is investing $20B to join CMS’s Health Tech Ecosystem, aiming to build an open, integrated digital healthcare platform.
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This effort, announced at a “Make Health Tech Great Again” event at the White House, is focused on laying the foundation for a next-generation digital health ecosystem.
CVS Health is joining more than 60 health care and technology companies supporting the Centers for Medicare and Medicaid Services Health Tech Ecosystem initiative.
This effort, announced at a “Make Health Tech Great Again” event at the White House on July 30, is focused on laying the foundation for a next-generation digital health ecosystem.
“With the commitments made by these entrepreneurial companies today, we stand ready for a paradigm shift in the U.S. healthcare system for the benefit of patients and providers,” CMS Administrator Mehmet Oz said in a press release.
“At CVS Health, we are reimagining the healthcare experience to be consumer directed, proactive and fully integrated, minimizing healthcare friction and transforming access, cost and quality of care,” said Tilak Mandadi, CVS Health executive vice president, ventures and chief experience and technology officer. “We are pleased to join with others in government and the private sector, leading the way to Make Health Tech Great Again.”
[Related: CVS Health’s Aetna debuts new AI, digital tools]
CVS Health recently committed to invest $20 billion over the next decade to transform the healthcare experience through emerging technologies that simplify “how we do business and improve customer engagement,” the company said.
This investment includes the development of an open platform that can enable seamless access to any payer, provider, PBM, pharmacy or digital health tool.
[Read more: CVS Health’s Aetna supports industry actions to simplify prior authorization]
“This is a once-in-a-lifetime opportunity to transform health care,” said Tony Ambrozie, CVS Health senior vice president and chief digital and technology officer for pharmacy and consumer wellness, who attended the White House event. “How the private sector and government collaborate on this will be vital to creating a healthcare system that’s truly built to serve patients. We can make health care simpler and more efficient – leading to better experiences and better health outcomes.”
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