CVS enters into a partnership with Microsoft as part of the deployment of a new digital strategy
As CVS Health revamps its healthcare strategy, it is partnering with Microsoft to further digitize its operations. CVS will migrate some of its existing processes to Microsoft’s cloud service, Azure, and will also work with the company to create more consumer health tools as it seeks to strengthen its digital presence.
The companies announced the strategic alliance on Thursday, but did not disclose the terms of the deal. It comes shortly after CVS announced it was closing 900 of its stores and renovating other locations to focus more on health and wellness services.
“We are rapidly transforming into a consumer-centric integrated health solutions company, taking a forward-thinking, technological-first-digital approach,” CVS Chief Information Officer Roshan Navagamuwa said in a press release. .
One aspect of the partnership will be to create consumer-facing tools that can deliver personalized health recommendations using patient data. For example, the company could remind someone at risk for melanoma to buy sunscreen, according to Forbes.
The company also plans to grow its retail loyalty and personalization programs using Azure.
CVS has used Azure to automate some tasks in the past. For example, it uses computer vision and text analysis to help digitize admissions for specialty pharmacies, when prescriptions often arrive by paper or fax, making it easier and faster to fill prescriptions. CVS said it will work with Microsoft to find other ways to streamline processes.
Finally, the partnership will also involve CVS deploying Microsoft products for its workforce, such as Teams for video conferencing and Microsoft Office.
Microsoft has recently made strides in carving out a foothold in the healthcare industry, as cloud competitors Google and Amazon are also seeking market share. Microsoft entered into a strategic partnership last year with its competitor Walgreens and also entered into an integration with Teladoc for Microsoft Teams. It also made a big $ 19.7 billion acquisition of Nuance, which makes speech recognition tools for documentation.
Photo credit: CVS Santé