CVS Health today unveiled a revamped app aimed at reducing long pharmacy lines, increasing transparency in prescription costs, and making store visits more pleasant overall.

The new features include, among other things, a barcode that allows pharmacists to access prescriptions more quickly and process payments. Users can also view the status and costs of their prescriptions. At three pilot locations, CVS is testing a feature that allows customers to open locked cabinets using a smartphone.

Tilak Mandadi, Executive Vice President of Ventures at CVS Health and Chief Digital Officer, stated that the app is designed to address common challenges in the pharmacy and healthcare business. "How do we optimize convenience for customers and remove stress and uncertainty from the process?" Mandadi asked. With declining foot traffic post-pandemic, a persistent labor shortage, and pressure from drug prices, pharmacy chains like CVS have been forced to take cost-cutting measures in recent years, including closing stores. While the S&P 500 has nearly doubled over the past five years, CVS stock has remained almost unchanged.

However, Mandadi is convinced that an improved customer experience can lead to revenue growth. The new app allows customers to view their prescriptions and costs in advance, especially for Aetna and Caremark members, both of which belong to CVS. Discussions with other insurers are ongoing to expand this transparency to a broader customer base in the future. The ability to unlock closed cabinets in stores via the app is currently being tested in three locations and is expected to be expanded to 10 to 15 locations soon. The goal is a full rollout in all branches. Other new features include managing family prescriptions, booking multiple vaccinations, and a generative AI-powered search function.

Additionally, the app integrates content such as articles from Everyday Health and guided meditations from the Headspace platform. "Our working title was 'the Super-App,'" says Mandadi. The app currently records 14.1 million monthly active users, an increase of 22 percent compared to the previous year. However, Mandadi emphasizes that broader acceptance depends on the ability to sustainably change user behavior and create clear benefits for customers.