Selasa, 04 Juni 2019

CVS turning 1,500 stores into HealthHUB locations with less retail, more health care - USA TODAY

Get ready for less retail floor space and more room for health care services at one of your local CVS stores.

CVS Health is poised to expand a concept store focused on health care to 1,500 locations by the end of 2021, the company said Tuesday.

The drugstore chain launched the concept store, called HealthHUB, in the Houston area earlier this year.

The premise stems from the company's effort to reduce its reliance on sales of retail goods and increase its commitment to health care services. The company recently closed 46 struggling stores as it competes with Amazon and other retail rivals for customers.

It's also reducing floor space for slow-selling items like greeting cards and adding space in hundreds of stores for teeth-straightening service SmileDirectClub.

At the HealthHUBs, more than 20% of the floor space is devoted to health care services like wellness and personalized care.

For example, HealthHUB stores have space for yoga classes and extra room for CVS Minute nurse practitioners to perform services such as phlebotomy, diabetic screening and sleep apnea assessment.

CVS CEO Larry Merlo told USA TODAY in November that he plans to shift more retail space toward health purposes.

The company announced Tuesday that the new HealthHUBs would roll out first in Houston, Atlanta, Philadelphia, southern New Jersey and Tampa.

See the list: CVS closing 46 struggling stores

Straighten your teeth: 'Hundreds' of CVS Pharmacy stores to get SmileDirectClub shops

"By bringing those services to help them better manage their chronic diseases, we can really increase their awareness, their engagement, the experience with those services and ultimately help them manage their own diseases and be healthier, which in turn lowers overall health care costs," CVS chief transformation officer Alan Lotvin told USA TODAY in February.

Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.

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https://www.usatoday.com/story/money/2019/06/04/cvs-health-healthhubs/1337100001/

2019-06-04 12:19:35Z
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CVS announces further expansion into health care services - The Boston Globe

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CVS leaders think the company can play a key role in this movement by making health care routine instead of something people think about only when they visit a doctor.

‘‘The ultimate goal is bring more health services into people’s communities where they can access them as part of their daily life,’’ Executive Vice President Dr. Alan Lotvin said.

But the drugstores may face questions about their motive, never mind competition from major doctor groups and hospital systems that have their own support staff working to keep patients healthy.

The management of chronic illnesses has become a big source of health care spending, noted Harvard researcher Dr. Ateev Mehrotra, who has studied retail clinic growth.

‘‘This is sort of the pot at the end of the rainbow that everyone wants to get to,’’ he said.

CVS Health, based in Woonsocket, Rhode Island, runs more than 9,800 retail locations nationally. Late last year, it added health insurance when it acquired one of the nation’s biggest insurers, Aetna, in a roughly $69 billion deal that is still being reviewed by a federal judge.

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Soon after announcing that deal, CVS officials started talking about plans to provide more health care help to customers.

Aside from visits with dietitians, HealthHub stores also give customers a chance to get screened for eye problems caused by diabetes, talk to a pharmacist about their treatment plan or get help tracking their blood pressure.

The stores reduced space for things like seasonal merchandise in order to add community rooms that can be used for free chair yoga sessions or nutrition classes.

The company started testing the changes in Houston late last year and will add more to that market this year as well as expand to Atlanta, the Philadelphia area and Tampa. CVS officials say they expect to run 1,500 HealthHub stores by the end of 2021.

Separately, Walgreens has added primary care clinics to some of its stores in the Houston area. It’s also testing clinics in Kansas City that focus on older patients through a partnership with the insurer Humana. The drugstore chain wants to improve access to primary care for its customers, said Walgreens executive Dr. Pat Carroll.

‘‘We have an aging population,’’ he said. ‘‘It is difficult in many communities to actually find a primary care physician.’’

Both Mehrotra, the Harvard researcher, and Dr. Kevin Pho said drugstore services may make it easier for some patients to get help. But they said it is critical for a patient’s regular doctor to stay updated on all care, especially if the patient has a few conditions and takes several medications.

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Pho, a New Hampshire-based physician, also worries that drugstores may use their health care services to drum up prescription business or sales in the rest of their store.

CVS is offering additional health care in stores many customers already visit routinely and is focused on putting those customers on ‘‘a path to better health,’’ Executive Vice President Kevin Hourican said.

Frequent CVS customer Grace Bennett said she thinks the expanded health care services are a ‘‘fantastic step.’’

The 28-year-old New Yorker has diabetes that led to eye surgery. She said screenings for that condition and other health care services available through the drugstores will make it easier for people to get help without having to juggle schedules or worry about finding an open appointment.

‘‘I think they’ll be helpful to a whole lot of people,’’ she said

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https://www.bostonglobe.com/business/2019/06/04/cvs-announces-further-expansion-into-health-care-services/Dxf8ORhNNx5CC64Ct9JjPN/story.html

2019-06-04 11:14:37Z
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FANG stocks just lost nearly $130 billion in market cap, and chart points to more pain - CNBC

Fears of increased government scrutiny just crushed FANG stocks.

Facebook, Amazon, Netflix and Alphabet tanked Monday, shedding nearly $130 billion in market cap collectively. Those losses sent Facebook, Netflix and Alphabet into a bear market, having dropped at least 20% from recent records.

The drop came on the first trading day after The Wall Street Journal reported that the Justice Department is readying an antitrust investigation against Google over its search practices and other issues. Alphabet declined to comment.

The NYSE Fang+ index, which tracks the big tech companies and a handful of other stocks, could be in for more pain, says Ari Wald, head of technical analysis at Oppenheimer.

"As a group, this particular index has not fared well. If you look at the NYSE Fang+ index -- it's an equal weighted composite of 10 related names, it's the four we know plus stocks like Tesla and Alibaba are in there as well -- it's trading at the same level it first traded at back in December of 2017, " Wald said on CNBC's "Trading Nation " on Monday. "It's been a very tough market for this index in what's really been a better environment for high growth in general."

The NYSE Fang+ index tumbled 4% on Monday, and remains just 1% higher for the year. By comparison, high-growth sectors including software, consumer discretionary and communication services have rallied by at least 10%.

"For this particular index, I can say that there's really no signs that this underperformance is abating, and for exposure we prefer software and services. We think that's going to be the part of high growth that outperforms," said Wald.

Gina Sanchez, CEO of Chantico Global, says just the threat of increased regulatory oversight could stymie the FANG trade for some time.

"These companies will be very, very mired in the process of being scrutinized," Sanchez said during the same segment. "They could actually keep these companies so involved in this process over the next two years that they won't be able to effectively run and do the things that growth companies do."

The degree of oversight could mirror the intense antitrust scrutiny given to Microsoft during the 1990s, says Sanchez. The U.S. government accused Microsoft of illegally maintaining a monopoly, a case it won in a 2000 ruling.

"The market response is appropriate given the fact that everybody saw what happened to Microsoft, they had to take their eye off the ball, and so this could be one of those moments," said Sanchez.

Microsoft's stock price was largely unaffected over the course of the case. From the point at which the Department of Justice filed antitrust charges in May 1998 to the April 2000 ruling, Microsoft shares more than doubled.

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https://www.cnbc.com/2019/06/04/fang-stocks-just-lost-nearly-130-billion-chart-points-to-more-pain.html

2019-06-04 11:03:46Z
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CVS to open 1,500 HealthHUB stores over next two years - CNBC

CVS will open 1,500 HealthHUB stores by the end of 2021, the company announced Tuesday ahead of its investor day.

The HealthHUBs are remodeled drugstores that focus more on health services and products and less on candy and greeting cards. CVS opened its first three HealthHUB locations in Houston in February. It plans to open more in Houston, Atlanta, Philadelphia, southern New Jersey and Tampa, Florida, by the end of the year.

"We're pleased with the customer feedback we've received on the HealthHUBs," CVS Pharmacy Kevin Hourican said in an interview. He said these stores have seen higher traffic in the MinuteClinics, increased sales in the front of the store and more prescription volumes.

HealthHUBs include an expanded health clinic, with a lab for blood testing and health screenings. There are also wellness rooms for yoga and seminars, dietitians and respiratory specialists in the HealthHUBs.

Alan Lotvin, CVS executive vice president of transformation, said the 50 stores CVS will add this year will include these same features, while the ones added next year and the year after may look slightly different as the company improves on the design. CVS may tweak the designs for different markets and store sizes. For example, Hourican said stores in the Northeast tend to be smaller than the ones in Texas, so the company will need to pare it down.

Like other retailers, CVS needs to figure out how to keep people coming into its stores, and health services gives consumers something they can't buy online.

The company in May said it decided to close 46 underperforming stores. Hourican said he does not anticipate "meaningful" store closures. However, he said 500 store leases come up for renewal every year and CVS will review those.

Executives also think the HealthHUBs will help advance CVS' vision for its $70 billion acquisition of health insurer Aetna. The combined company says it wants to keep its members healthier and lower its health-care expenses and that managing chronic conditions in its drugstores will help accomplish that.

Measuring progress on this front may take longer, Hourican said. The company will track how its members are engaging with the services in stores and whether that leads to behavior change, clinical outcomes and cost reductions.

"It really is measuring at each step along the way, are you getting what you expect to get," he said. "When you get the clinical outcomes you see the cost savings we modeled."

CVS' announcement comes as executives try to impress analysts and shareholders on their strategic vision at the company's investor day in New York on Tuesday. The company's stock price has slid 20% this year. Executives warned that 2019 would be challenging, between integrating Aetna, navigating regulatory pressure and shrinking profitability for filling prescription drugs.

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https://www.cnbc.com/2019/06/04/cvs-to-add-healthhub-stores-drugstore-announces-ahead-of-investor-day.html

2019-06-04 10:49:38Z
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Feds crank up antitrust heat on Big Tech - Axios

Broad U.S. antitrust action against Big Tech moved firmly from the speculative realm to the investigative mode in the last 72 hours, as both Congress and regulatory agencies appeared to be moving forward with inquiries.

The big picture: While the pressure on the likes of Google, Facebook, Amazon and Apple has been mounting for years, the one-two punch of a public Congressional investigation into their dominance and possible antitrust probes by regulators marks a major escalation in tensions.

  • Last year saw high-profile testimony by CEOs like Facebook's Mark Zuckerberg, but the action will now shift to more mundane yet substantial document and evidence gathering that would form the basis of court cases or settlements.

Driving the news: The House Judiciary Committee said Monday that it was launching a bipartisan investigation into whether big tech platforms are engaged in monopolistic practices.

  • A person familiar with the investigation said that, in addition to public hearings, the inquiry would include requesting documents from a wide range of companies.
  • That could allow the committee to receive information from small competitors of the tech giants who would otherwise be wary of testifying publicly, the person said.
  • "Given the growing tide of concentration and consolidation across our economy, it is vital that we investigate the current state of competition in digital markets and the health of the antitrust laws," said Rep. Jerrold Nadler (D-NY), the committee's chairman.
  • Tech stocks fell in Monday trading as the federal interest in the companies came into focus.

Between the lines: The investigation could help lawmakers develop a factual record to shape legislation overhauling the nation's antitrust laws, which reformers say are inadequate for reining in corporate power as it exists today.

The announcement followed reporting over the weekend and into Monday that the Justice Department and the Federal Trade Commission had split up the field of investigations into anti-competitive behavior by tech giants.

Why it matters: Of the many ways critics want to address concerns about Big Tech, antitrust action has always been among the most significant — although it was largely seen as the least likely route.

  • It could result in action as serious as the firms being broken up, but even if it doesn't, it could seriously distract the platforms' efforts to grow their main businesses and anticipate new waves of tech innovation. Microsoft learned this lesson the hard way after its antitrust fight with Washington two decades ago.

What we're watching: Congressional hearings on the issue will unfold in the coming months, and signs that DOJ and FTC are moving forward with formal investigations into the tech giants could leak out in the form of official inquiries sent to the companies or their competitors.

Our thought bubble: Once inquiries like this get started, they develop their own momentum even as they proceed at what feels like a leaden pace to tech insiders. These companies likely face years of entanglement.

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https://www.axios.com/google-facebook-amazon-apple-antitrust-investigations-91349658-684c-47c2-9ce3-ca9307d7cc59.html

2019-06-04 10:00:08Z
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Senin, 03 Juni 2019

Facebook tumbles on antitrust concerns - CNBC

Facebook shares tumbled more than 8% Monday following a The Wall Street Journal reported that said the FTC will be able to examine the effect of Facebook's practices on digital competition.

Shares of other tech giants took a hit over similar concerns. Amazon's stock was down more than 4% Monday following a Washington Post report that the top U.S. antitrust enforcement agencies have a new agreement over tech oversight. The drop shaved about $35 billion from its market cap, bringing it to $839 billion.

And shares of Google parent company Alphabet were down more than 6% after The Wall Street Journal reported Friday the Justice Department is readying an antitrust investigation. The stock lost about $47 billion from its market cap, bringing it to around $721 billion.

Facebook's drop shaved more than $33 billion from its market cap, bringing it to about $472 billion. Facebook is already under investigation by the FTC over its handling of user data and has said it is expecting a fine of up to $5 billion.

Antitrust regulation has remained a distant threat in recent years as scandals like Cambridge Analytica brought the scale of tech power into focus for the public. In the lead up to the 2020 presidential election, "break up big tech" has become a rallying cry for some, Democratic presidential candidate Sen. Elizabeth Warren, D-Mass.

But a new reported agreement between the Federal Trade Commission and the Department of Justice brings that threat a bit closer to reality. The FTC will take the lead on oversight of Amazon, which the DOJ will have greater jurisdiction over Google, according to the Post. The FTC previously closed an investigation of Google without taking action, but now the DOJ will take another look into Google's practices in search and other areas, according to the Journal.

Subscribe to CNBC on YouTube.

Watch: DOJ's Google antitrust probe will hit other tech players, analyst says

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https://www.cnbc.com/2019/06/03/amazon-facebook-and-google-stocks-stumble-over-antitrust-concerns.html

2019-06-03 16:30:52Z
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Kelp Has Been Touted As The New Kale, But It Has Been Slow To Catch On - NPR

Bren Smith is a seaweed farmer and co-founder of GreenWave, a nonprofit that supports and trains ocean farmers. Courtesy of GreenWave hide caption

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Courtesy of GreenWave

A few years ago, many news stories announced that "kelp is the new kale." That the global seaweed harvest is worth more than lemons and limes. That it's the "next great food craze." And that it will be "everywhere by the next decade."

Where are we now?

Kelp is a type of seaweed that grows in large underwater forests and looks a little like green lasagna noodles with curly edges.

Seaweed farming has a lot going for it: It doesn't require any fertilizer, can actually be used as fertilizer, helps fight climate change, and cleans up ocean water by taking in nitrogen compounds. It's also a nutritious sea vegetable — rich in vitamins C and K and minerals like iron and calcium.

But now, the growing industry in the U.S. needs to build infrastructure and to change people's tastes on a larger scale.

Bren Smith is a leading advocate for what he calls restorative ocean farming — growing seaweed alongside shellfish like mussels and oysters, which absorb carbon dioxide and nitrogen compounds, protect shorelines from storm surges, and rebuild marine ecosystems. He co-founded a nonprofit called GreenWave to promote the movement and train aspiring farmers.

"The momentum's been unbelievable ... we have requests to start farms in every coastal state in North America, 20 countries around the world," Smith says.

Smith's farm is just off the coast of Connecticut, on Long Island Sound. There are now farms up and down the New England coast, with more getting started in California and the Pacific Northwest.

"We're growing, and people are eating it," Smith says. "This isn't like a cute little Brooklyn bee farm project creating nice little bottles of honey at the farmers market. ... There are hundreds of thousands of pounds being produced and sold at this point."

Kelp can be used as a pasta substitute, as noodles, sautéed with butter and mushrooms, or ground into powder to use as seasoning. High end restaurants have also used seaweed as a side vegetable and on cookies.

However, some industry specialists say growing seaweed has become perhaps too popular. Anoushka Concepcion is an assistant extension educator with the Connecticut Sea Grant; she works with seafood producers and researchers and answers questions about the latest technology and trends.

"The idea sort of took off before all the practical challenges could be addressed," Concepcion says. "Farmers are finding it difficult now just to get rid of their seaweed."

Seaweed can be used to make seasoning and even gin. Alan Yu/WHYY hide caption

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Alan Yu/WHYY

She explains that the seafood business usually works like this: Oysters and clams are sold right off a boat to a dealer, who sells them to restaurants.

"Dealers are not buying seaweed yet, because there's no established market on their end," Concepcion says.

Smith, GreenWave's co-founder, says all the farmers who are a part of that network have no problem selling their seaweed, but he agrees with Concepcion about another obstacle — a lack of large-scale processing facilities in Connecticut.

His farm grows kelp. He explains that it has a shelf life of a half-hour and needs to be blanched quickly after it leaves the water to stabilize it, which is expensive and fine to do on a small scale. But if more farmers grow kelp, they will need big buildings with giant tubs of hot water and freezers to process it and keep it safe to eat.

On the other side of the country in Alaska, farmers also have no problem growing seaweed, the problem is what to do with it once it's harvested, says Gary Freitag, a marine advisory agent at the Alaska Sea Grant who works closely with the state's marine resources industries.

He says Alaska has about five seaweed farms, and he gets about 20 calls a month from people interested in starting their own. But now the industry needs to address questions like these: Does the market want frozen seaweed, dried seaweed, or other products? Can they process seaweed using existing facilities for salmon and other fish? Do they have enough trucks and transport hardware if the industry takes off ?

"I think in 10 years it will be a fairly substantial industry up here, but now it's just going to be very small and experimental," Freitag says. "We just don't know how to solve all these ... bottlenecks (that inhibit further growth.)"

Smith of GreenWave says that "expectations [for how quickly seaweed would take off] have been set way too high. This is an exciting, scalable, replicable thing that can be a true climate solution, but it's going to be really hard work."

Still, he adds, climate change is a big issue, so this work has to happen fast.

"It's not about growing slow and small because we only have 30 years to address the climate crisis — that would have been great in the 1950s."

Smith says the seaweed business is past the startup phase. Aside from infrastructure, there's another big challenge: How do they get more people to eat it?

That could take some time, says Jet Tila, a celebrity chef who specializes in pan-Asian cuisine. He has used seaweed in many Japanese and Chinese dishes in his restaurants, but when asked to make it the star of a plate in a challenge on the show Iron Chef, he found it difficult.

"Seaweed is not a center-of-the-plate ingredient traditionally," Tila says. "It lacks fat. It has savoriness, [but] it lacks the protein feeling from meat, so it was really difficult to pair it into something to try and make it the star of the show."

He explains that kelp has a distinct, strong ocean flavor; and an unfamiliar, slippery, dense texture — features that can take time for Americans to get used to. He works in large-scale corporate food service and says seaweed will be mainstream if it becomes the center of the plate in those settings.

"You're still in the early-adopting phase; I don't think we're even close to the middle," Tila says. "It's going to be, in my opinion, quite a few years."

Alan Yu reports for NPR member station WHYY's health and science show, The Pulse, in Philadelphia.

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https://www.npr.org/sections/thesalt/2019/06/03/725790613/kelp-has-been-touted-as-the-new-kale-but-its-been-slow-to-catch-on

2019-06-03 14:49:44Z
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