CVS 1999 Annual Report Download - page 4

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2
CVS Corporation
CVS holds the #1 share of the U.S. prescription market. We achieved a five-year compounded
TO OUR SHAREHOLDERS
CVS Corporation made great strides in 1999 in reaching
out to customers everywhere they want to shop—On the Corner, On the Phone and
On the Web™. Our tireless commitment to service, convenience and innovation has
enabled us to become a leader in providing total healthcare solutions to our customers.
On the Corner, we opened and relocated a record number of stores to make the
shopping experience pleasant and productive for time-starved consumers,
increasing our number of 24-hour stores and drive-thru pharmacies. With 4,100
stores, we have more retail locations than any other drugstore chain in the United
States. On the Phone, our Rapid efill service makes it easy for customers to refill
their prescriptions quickly and conveniently. On the Web, CVS.com provides
prescription filling options, comprehensive healthcare information and a wide
range of front store merchandise with the added convenience of mail delivery or
in-store pharmacy pickup.
At the heart of our long-term growth strategy is cutting-edge technology, which
we use aggressively to achieve breakthroughs in service. We are exploring new and
innovative ways to provide more personalized service and product offerings that
build customer loyalty.
Our CareCheck PlusSM program, for example, combines health advice,
prescription education and direct marketing capabilities to target consumers with
appropriate health information and over-the-counter product offers related to their
prescription purchases.
In January 2000, we became the first and only drugstore chain in
America to use technology to protect patients from dangerous drug
interactions between prescription medications, over-the-counter
remedies, vitamins and herbal products. We extend this critical service
to all CVS customers, wherever they like to shop.
And we are leveraging our industry leadership position by forming
technology-based alliances with other healthcare leaders that enable us
to provide more complete and meaningful solutions for our customers.
In January 2000, we entered an alliance with Healtheon/WebMD, the
leader in physician connectivity and the leading provider of
healthcare information on the Internet, to become the exclusive
e-pharmacy for several major Internet portals, including WebMD,
Excite, Lycos, and the Microsoft Network. WebMD will become the
exclusive health content provider for all CVS businesses. This will
dramatically increase our exposure on the Internet, drive new traffic to
CVS.com and bring new customers into the CVS/pharmacy family.
The establishment of CVS as the
first major “clicks and mortar”
pharmacy in the nation provides
us with a significant competitive
advantage in the growing
field of e-pharmacy.