CVS looks for a slice of the healthcare pie
Pedestrians walk by a CVS store in San Francisco, California. In October, the drugstore chain will stop selling tobacco products altogether, wiping out an estimated $2 billion a year in sales.
CVS is trying to cash in on the Affordable Care Act. Customers will soon be able to pay their premiums at their local CVS store.
The pharmacy is hoping the additional foot traffic will lead to more sales, analysts say. But there are pitfalls. For example, if there are problems with the payment processing, it might not be all CVS's fault. "But it will be CVS where the patient is standing, frustrated," says George Hill, healthcare services analyst at Deutsche Bank.
CVS says it'll start accepting the premium payments later this spring.