CVS Well being invested greater than $114 million in reasonably priced housing final yr to deal with social determinants of well being as insurers intensify methods to cut back prices and enhance outcomes past masking conventional medical remedies.
In an announcement Tuesday, CVS stated the corporate’s investments over the previous yr “will result in the development and rehabilitation of greater than 2,800 reasonably priced housing models in 30 cities, throughout 12 states.”
The housing initiative, which dates previous to CVS’ buy of the Aetna well being plan unit, comes as rival well being insurers that embrace UnitedHealth Group and Anthem are more and more investing in an array of providers and capital tasks to deal with social determinants from meals insecurity and loneliness to homelessness.
Many of those well being plans are additionally paying for an array of providers from meals and diet to housing to ensure sufferers are getting the appropriate care in the appropriate place and on the proper time. And by paying for these new advantages, insurers see price financial savings if dearer hospital care or different opposed well being outcomes are prevented down the street.
“We acknowledge that equitable entry to secure and supportive housing serves as one of many biggest obstacles to higher well being for many individuals,” CVS president and chief govt Karen Lynch stated. “Via our investments and collaboration with native companions, we’ve been capable of present underserved communities throughout the nation with high quality housing, financial help, and academic coaching alternatives primarily based on the distinctive wants of the inhabitants.”