CVS 1998 Annual Report Download - page 9

Download and view the complete annual report

Please find page 9 of the 1998 CVS annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 44

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44

4,000 places to bring the care
back to healthcare CVS
pharmacy
VS’ retail pharmacies serve as the backbone of
our healthcare business. During 1998, our
12,000 pharmacists dispensed more than 250 mil-
lion prescriptions to customers, more than any
retailer in the nation. On a dollar basis, pharmacy
sales jumped 17.0% in 1998 to $8.8 billion.
This outstanding performance is attributable
to a number of factors, not the least of which is the
professionalism and level of care demonstrated
every day by our pharmacists. Based on their
abilities, we have been able to pursue an aggressive
strategy to take advantage of current healthcare
industry dynamics as well as CVS’ unique competi-
tive strengths.
Advanced Technology
Optimizes Pharmacy Service Levels
CVS’ technology systems provide us with a
key competitive advantage, and we continue to roll
out new initiatives to better serve our customers
and increase productivity and sales. Since its intro-
duction in 1994, CVS has invested over $200
million in our state-of-the-art Rx2000 pharmacy
system. One of our most successful innovations
has been the launch of our Rapid Refill system,
which enables customers to order prescription
refills using a touch-tone telephone. We were
among the first to make this service available chain-
wide and we have seen an enthusiastic response.
In just over 18 months after its debut, Rapid Refill
now accounts for 50% of refills. In addition to
providing an added convenience for our customers,
one of the most important benefits of Rapid Refill
CVS pharmacies feature our state-of-the-art Rx2000 pharmacy
system, which reduces the time it takes to fill a prescription.
C
C