Healthy Colorado: CVS acquisition brings healthcare changes
COLORADO SPRINGS, Colorado (KRDO) -- Retail pharmacy giant CVS is closer to finalizing a deal to acquire a major healthcare service company. The deal is set to impact at-home COVID testing and expand medical services in rural communities.
The deal, which was originally agreed upon in September, would allow the retail pharmacy chain CVS to acquire Signify. CVS would then be among the first pharmacy chains in the U.S. to enter the at-home healthcare space after building its successful 'minute clinic'.
According to a CVS press release, while every American has been able to either buy a rapid at-home antigen test at their local store or get them delivered right to their doors, PCR tests have been reserved for doctors' offices, clinics, and pharmacies. PCR tests, which look for genetic material from the virus, are considered the gold standard when it comes to COVID-19 testing. While less accurate than PCR tests, antigen tests are still considered quite accurate when used in people with symptoms of infection. The tests look for proteins on the surface of the virus and can deliver results in 15 minutes or less.
CVS has been offering PCR testing at its stores but with Signify already having a system in place providing on-site COVID screening, clinicians may be able to perform such testing in people's homes.
It's not just COVID tests that might see some changes. According to the American Hospital Association, there are just 1,805 rural hospitals in the U.S. A January report from the Center for Healthcare Quality and payment reform shows that 631 rural hospitals, or roughly 30% are at immediate risk or high risk of closing due to low financial reserves or being too dependent on certain forms of revenue such as state subsidies.
By comparison, CVS has more than 9,000 stores across the country that can provide more advanced health services these days. The acquisition may allow the company to be able to reach traditionally underserved communities that live far away from metropolitan areas.
