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CVS announces Dr. Sreekanth Chaguturu as president, Health Care Delivery | Healthcare Finance News

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charset=utf-8" /> <meta property="og:title" content="CVS announces Dr. Sreekanth Chaguturu as president, Health Care Delivery" /> <meta property="og:description" content="Mike Pykosz, who has served in that role and confounded Oak Street Health, is leaving CVS." /> <meta property="og:image" content="https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/Sree.CVSHealth.jpg" /> <meta property="og:url" content="https://www.healthcarefinancenews.com/news/cvs-announces-dr-sreekanth-chaguturu-president-health-care-delivery" /> <meta property="og:site_name" content="Healthcare Finance News" /> <meta name="twitter:card" content="summary_large_image"> <meta name="twitter:site" content="@HC_Finance"> <meta name="twitter:title" content="CVS announces Dr. Sreekanth Chaguturu as president, Health Care Delivery" /> <meta name="twitter:description" content="Mike Pykosz, who has served in that role and confounded Oak Street Health, is leaving CVS." /> <meta name="twitter:image:src" content="https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/Sree.CVSHealth.jpg" /> <script language="JavaScript" type="text/javascript" src="//sadmin.brightcove.com/js/BrightcoveExperiences.js"></script><script src="https://munchkin.marketo.net/munchkin.js" type="text/javascript"> </script> <script>mktoMunchkin("922-ZLW-292"); 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CVS released the news Tuesday, when it announced that Dr. Sreekanth Chaguturu will replace Pykosz and become president, Health Care Delivery, in addition to his current role as executive vice president and chief medical officer. &quot;Sree and I worked closely together when he" /> <meta name="generator" content="Drupal 7 (https://www.drupal.org)" /> <link rel="canonical" href="https://www.healthcarefinancenews.com/news/cvs-announces-dr-sreekanth-chaguturu-president-health-care-delivery" /> <link rel="shortlink" href="https://www.healthcarefinancenews.com/node/145527" /> <meta name="google-site-verification" content="CyPptSFsTGDHqBSnTPWyDVmoyCsHKxcgzqHded4Rjyw" /> <meta name="yandex-verification" content="da2025137f0c4854" /> <title>CVS announces Dr. Sreekanth Chaguturu as president, Health Care Delivery | Healthcare Finance News</title> <link href='https://fonts.googleapis.com/css?family=Oswald:400,700,300' rel='stylesheet' type='text/css'> <link 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src="https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/styles/top_stories/public/TopStories.Kilito%20Chan_1.jpg?itok=4ZiM0Awn" width="120" height="72" alt="Telehealth prescribing of controlled drugs extended through 2025" /><span class="story-title">Telehealth prescribing of controlled drugs extended</span> </a> </div> </div> </div> </div> </div> </div> <div class="row"> <div class="stickyParent system-main"> <section class="col-sm-8 col-xs-12"> <a id="main-content"></a> <div class="region region-content"> <div id="block-system-main" class="block block-system block-system-main clearfix" > <div class="content"> <article id="node-145527" class="node node-news clearfix col-md-12 col-sm-12 col-xs-12" about="/news/cvs-announces-dr-sreekanth-chaguturu-president-health-care-delivery" typeof="sioc:Item foaf:Document" node="145527"> <header> <div class="created-topic"> <span class="submitted">Nov 21</span> <span class="topic">More on <a href="/resource-topic/business-intelligence">Business Intelligence</a></span> </div> <h1 class="node-title">CVS announces Dr. Sreekanth Chaguturu as president, Health Care Delivery</h1> <h2 class="sub-header"> Mike Pykosz, who has served in that role and confounded Oak Street Health, is leaving CVS. </h2> <div class="author col-md-12 col-sm-12 col-xs-12"> <div class="author-item col-md-12 col-sm-12 col-xs-12"> <div class="editor col-sm-8 col-xs-12"> <div class="author-inline "> <div class="avatar" style="background: url(https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/styles/avatar/public/Susan.jpg?itok=hQ4S6QUm) center 0;"> <a href="/news/author/82001"><img src="/sites/healthcarefinancenews.com/themes/hfn/images/circle-over.png"></a> </div> <span class="author-name"><a href="/news/author/82001">Susan Morse</a></span><span class="job-title"><strong>,</strong> Executive Editor</span> </div> </div> <div class="social-media col-sm-4 col-xs-12"> <script type="text/javascript"> var addthis_share = { // ... other options url_transforms : { shorten: { twitter: "bitly" } }, shorteners : { bitly : {} }, passthrough : { twitter: { via: "HC_Finance" } } } </script> <script type="text/javascript">var addthis_config = {"data_track_addressbar":false};</script> <!-- Go to www.addthis.com/dashboard to customize your tools --> <script type="text/javascript" src="//s7.addthis.com/js/300/addthis_widget.js#pubid=ra-536be1326a353683" async="async"></script> <!--<div class="addthis_custom_sharing"></div>--> <div class="addthis_sharing_toolbox" data-url="https://www.healthcarefinancenews.com/news/cvs-announces-dr-sreekanth-chaguturu-president-health-care-delivery"></div> </div> </div></div> </header> <div class="content" > <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><div class="companion_image companion_top"><img typeof="foaf:Image" src="https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/styles/companion_top/public/Sree.CVSHealth.jpg?itok=W7MrSEcQ" width="635" height="353" alt="" /><div class="image-field-caption"><p>Dr. Sreekanth Chaguturu is the new president of Health Care Delivery, as well as EVP and CMO.</p> </div><div class="image-field-credits"><p>Photo: Courtesy of CVS Health</p> </div></div><p>Oak Street Health cofounder Mike Pykosz, president of CVS' healthcare delivery arm, is departing CVS.</p> <p>CVS released the news Tuesday, when it announced that Dr. Sreekanth Chaguturu will replace Pykosz and become president, Health Care Delivery, in addition to his current role as executive vice president and chief medical officer. </p> <p>"Sree and I worked closely together when he started at CVS Health, serving as chief medical officer of CVS Caremark. In that role, and as the leader of Medical Affairs at our company, Sree has served as a trusted advisor to our clients, their members and CVS Health colleagues, consistently demonstrating our commitment to patients," said CVS Health President and CEO David Joyner. "At the same time, I thank Mike for his leadership and all he has done to help create a connected experience for those we serve."</p> <p><strong>WHY THIS MATTERS</strong></p> <p>Pykosz had planned to step down, according to Joyner. </p> <p>"Mike let us know earlier in the year that he planned to move on from the company and we appreciate him helping to lead a smooth transition," Joyner said.</p> <p>Joyner, Caremark's president, became president and CEO of CVS Health in October, after president and <a href="https://www.healthcarefinancenews.com/news/karen-lynch-exits-cvs-david-joyner-appointed-president-and-ceo" target="_blank">CEO Karen Lynch left</a> per agreement with the company's board of directors.</p> <p>CVS has repeatedly cut guidance this year due to financial pressures from lower <a class="directory-item-link" href="/directory/reimbursement" target="_blank">reimbursement</a> rates for prescription drugs – which has hit all pharmacies – and higher medical costs.</p> <p>Stock prices dropped nearly 20% this year, <a href="https://www.cnn.com/2024/10/18/business/cvs-names-new-ceo/index.html#:~:text=Stock%20prices%20have%20dropped%20nearly,a%20litany%20of%20other%20woes." target="_blank">CNN</a> said in October.</p> <p>Chaguturu represents another promotion from within the organization. As executive vice president and chief medical officer of CVS Health, he leads the CVS Health medical affairs organization and is focused on clinical quality standards, improving patient outcomes and reducing overall healthcare costs, CVS said. </p> <p>Chaguturu previously served as chief medical officer of CVS Caremark, where he provided clinical oversight of the <a class="directory-item-link" href="/directory/pharma" target="_blank">pharmacy</a> benefits manager.</p> <p>Before joining CVS Health, Chaguturu was chief <a class="directory-item-link" href="/directory/population-health" target="_blank">population health</a> officer of Mass General Brigham in Massachusetts. He led the system's <a class="directory-item-link" href="/directory/accountable-care" target="_blank">accountable care</a> organization and numerous clinical care delivery and innovation programs, CVS said. He is also a practicing internal medicine physician at <a class="directory-item-link" href="/directory/massachusetts-general-hospital" target="_blank">Massachusetts General Hospital</a>.</p> <p><strong>THE LARGER TREND</strong></p> <p>CVS Health <a href="https://www.healthcarefinancenews.com/news/cvs-health-completes-oak-street-health-acquisition#:~:text=CVS%20Health%20has%20officially%20completed,valued%20at%20around%20%2410.6%20billion." target="_blank">acquired Oak Street Health</a> last year for $10.6 billion. </p> <p>Oak Street Health is a multi-payer, value-based primary care company focused on older adults.</p> <p><strong>ON THE RECORD</strong></p> <p>"Health Care Delivery connects the dots for the people we care for, as we provide better care in our Oak Street Health clinics, in our pharmacies at <a class="directory-item-link" href="/directory/minuteclinic" target="_blank">MinuteClinic</a> and at home through Signify Health," Chaguturu said. "We will continue to keep our patients front and center of every decision we make. As we succeed in our work, it means more than 185 million people in our country live better lives. This is what we are capable of at CVS Health when we stay focused on delivering the best care for our friends, family, and neighbors."</p> <p><em>Email the writer: <a href="mailto:SMorse@himss.org">SMorse@himss.org</a></em></p> <div style="position: relative; display: block; max-width: 100%;"> <div style="padding-top: 56.25%;"> <iframe allow="encrypted-media" allowfullscreen="" frameborder="0" scrolling="no" src="https://players.brightcove.net/1824526989001/default_default/index.html?videoId=6364581401112" style="position: absolute; top: 0px; right: 0px; bottom: 0px; left: 0px; width: 100%; height: 100%;" title="Cyberattacks have become broader in impact"></iframe></div> </div> </div></div></div> </div> <!-- <div id="show_all_comments"> <div class="header"> <span>Show All Comments</span> <img class="plus" src="/sites/healthcarefinancenews.com/themes/hfn/images/comment_plus.png" /> <img class="sub" src="/sites/healthcarefinancenews.com/themes/hfn/images/comment_sub.png" /> </div> <div class="comment-content" id="disqus-wrapper"></div> </div> --> <script type="text/javascript"> window.next_post_layout = 'default'; </script> <div class="related-content clear" class="col-md-12 col-sm-12 col-xs-12"> <div class="block webinars-block"> <div class="block-title">News</div> <div class="sliders"><div class="slide col-md-12 col-sm-12 col-xs-12" > <a target="" href="/news/ending-racism-healthcare-often-begins-medical-education-and-target-new-national-project" title="Ending racism in healthcare often begins with medical education - and is the target of a new national project"> <img class="thumbnail_300x134" typeof="foaf:Image" src="https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/styles/thumbnail_300x134/public/black_patient_doc_vaccine_FG%20Trade_Getty%20Images.jpg?itok=hUCNSPlz" width="300" height="134" alt="Ending racism in healthcare often begins with medical education - and is the target of a new national project" /> <span class="title">Ending racism in healthcare often begins with medical education - and is the target of a new national project</span> </a> <span class="webinar-teaser">Inequities can be found in every facet of the industry, but targeting medical students and residents can help stem the tide.</span> </div><div class="slide col-md-12 col-sm-12 col-xs-12" style="display: none;"> <a target="" href="/news/healthcare-organizations-ask-hhs-delay-quality-measure-reporting-acos" title="Healthcare organizations ask HHS to delay quality measure reporting for ACOs"> <img class="thumbnail_300x134" typeof="foaf:Image" src="https://www.healthcarefinancenews.com/sites/healthcarefinancenews.com/files/styles/thumbnail_300x134/public/QualityReportingJoseLuisPelaez.jpg?itok=cAwVos3P" width="300" height="134" alt="Healthcare organizations ask HHS to delay quality measure reporting for ACOs" /> <span class="title">Healthcare organizations ask HHS to delay quality measure reporting for ACOs</span> </a> <span class="webinar-teaser">The American Hospital Association and American Medical Association are among the 11 organizations signing the letter.</span> </div> </div> </div><div class="clear"></div></div> </article> <!-- /.node --> </div> </div> </div> </section> <aside class="col-xs-12 col-sm-4 col-md-4" role="complementary"> <div class="stickySpacer"> <div class="region region-sidebar-second"> <div id="block-multiblock-47" class="block block-multiblock block-enterprise-ads block-enterprise-ads-ads_box_right1-instance block-multiblock-47 clearfix" > <div class="block-title"><none></div> <div class="content"> <div id="ads_box_right1" class="enterprise-ads enterprise-ads-box" data-slot="box" data-pos="right1"></div> </div> </div><div id="block-multiblock-49" class="block block-multiblock block-enterprise-ads block-enterprise-ads-ads_box_mobile_mobi_box2-instance block-multiblock-49 clearfix" > <div class="block-title"><none></div> <div class="content"> <div id="ads_box_mobile_mobi_box2" class="enterprise-ads enterprise-ads-box-mobile" data-slot="box_mobile" data-pos="mobi-box2"></div> </div> </div><div id="block-multiblock-48" class="block block-multiblock block-enterprise-ads block-enterprise-ads-ads_box_right2-instance block-multiblock-48 clearfix" > <div class="block-title"><none></div> <div class="content"> <div id="ads_box_right2" class="enterprise-ads enterprise-ads-box" data-slot="box" data-pos="right2"></div> </div> </div><div id="block-multiblock-16" class="block block-multiblock block-block block-block-36-instance block-multiblock-16 clearfix" > <div class="content"> <div class="subscribe-block"> <h3>Breaking News. 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