CVS Health is an American retail pharmacy and health care company headquartered in Woonsocket, Rhode Island. The company began in 1964 with three partners who grew the venture from a parent company, Mark Steven, Inc., that helped retailers manage their health and beauty aid product lines. The business began as a chain of health and beauty aid stores, but within several years, pharmacies were added. To facilitate growth and expansion, the company joined The Melville Corporation, which managed a string of retail businesses. Following a period of growth in the 1980s and 1990s, CVS Corporation spun off from Melville in 1996, becoming a standalone company trading on the New York Stock Exchange as NYSE: CVS
It later completed a merger with the pharmacy benefit management company Caremark Rx in 2007 and was consequently renamed CVS Caremark Corporation. The company was renamed CVS Health in 2014 following its decision to remove tobacco products from CVS Pharmacy store shelves. CVS Health's assets include CVS Pharmacy, CVS Caremark, CVS Speciality, and the retail clinic MinuteClinic. In 2016, it ranked seventh on the Fortune 500 and 18th on the Fortune Global 500 list.
|Subsidiaries||CVS/pharmacy® MinuteClinic® CVS/caremark® CVS/specialty Drogaria Onofre Longs Drugs Navarro Discount Pharmacy Accordant® Coram® Omnicare®|
|Key people||David W. Dorman (Non-Executive Chairman) Larry Merlo (President and CEO)|
|Founded||1996; 21 years ago (1996) in Woonsocket, Rhode Island, U.S.|
|Traded as||NYSE: CVS S&P 100 Component S&P 500 Component|
|Formerly called||CVS Corporation CVS Caremark Corporation|
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
It is a powerful and effective technique, which can greatly increase a company's revenue if used properly.
The main advantages of NPS are close correlation with a company's growth and easy collection, interpretation and communication of the data.
Net Promoter Score is a number from -100 from 100.
Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent.
The industry average for Food and Drug Stores is 0.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If CVS Health sends out NPS surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience.
On the other hand, if they survey their customers a few weeks after the purchase they are also tracking how satisfied their customers are with their products and services over time.
Therefore, comparing the NPS score of CVS Health with your own without any further context is not that useful.
What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. That's where Customer.guru comes in.
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We have estimated the Net Promoter Score of CVS Health based on the publicly available information
including the sentiment of the company-related tweets, 3rd party reviews, and Alexa ratings.