CVS has proven that every old dog can learn new tricks, and in the case of the 59-year-old pharmacy, it’s pet prescriptions.
The national chain announced Tuesday it has launched a pilot program in 9,000 pharmacies across the country to fill prescriptions in-store and by mail for certain dog and cat medications.
“With the addition of pet medication dispensing, CVS Pharmacy can now serve every member of the family,” CVS Health Interim President of Pharmacy and Consumer Wellness Sid Tenneti said in a statement.
Consumers can order available pet meds by providing a paper prescription from a vet, or having their vet call or fax the prescription to a participating CVS pharmacy. Medications available to customers include those for allergic dermatitis, bacterial infections, diabetes, fleas and ticks, and heartworms.
CVS joins Walmart and regional grocery chain Publix as prominent retail brands that have added pet medications to their human-focused pharmacies.
Past research indicates that consumers are happy when pharmacies in their area offer pet prescriptions.
A 2018 study, published in the journal Pharmacy Practice, noted that 62 percent of pet owners and 80 percent of vets agreed that filling pet prescriptions at local pharmacies would have benefit owners.
On the business side, pharmacies that add pet prescriptions to their offerings gain high-margin business from highly loyal customers, according to pharmacy consultancy Lumistry.
Pet prescriptions can boost a pharmacy’s profit margins because there are fewer pricing regulations than human medication, there are no complicated insurance reimbursement rules and pharmacies have the “flexibility to set competitive yet profitable cash prices,” Lumistry noted.
Since announcing its pet prescription services on Tuesday, CVS’s stock price has risen 1.6 percent.
CVS’s pet prescription program is one of two major consumer-focused rollouts planned for 2026.
Later this year, the company will launch Health100, an AI-powered customer platform developed with Google Cloud. It will serve as a customer’s go-to for coordinating healthcare no matter which insurance provider or pharmacy they have, according to a March announcement from CVSHealth.
“Technology is truly the enabler of our strategy and growth, and we are continuously driving innovation across the enterprise to distinguish ourselves in the marketplace,” CVS CEO J. David Joyner said during the company’s May 6 first-quarter earnings call.
The Independent contacted CVS for comment.
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