Who is Karen Lynch?
Karen S. Lynch is the President and Chief Executive Officer of CVS Health®, a leading healthcare solutions company ranked fourth on the Fortune 500. Karen leads more than 300,000 colleagues committed to providing a better healthcare experience for consumers by improving health outcomes, broadening access to care, and reducing costs.
Under Karen’s leadership, CVS Health touches the lives of more than 100 million people through its healthcare benefits and pharmacy benefits management businesses and a presence in more than 9,000 community health sites across the United States. As part of the company’s commitment to sustainability, Karen has set bold goals to advance health equity and ensure a healthier planet for the people and communities served by CVS Health.
Leadership Philosophy
Before the pandemic, CVS Health had approximately 20,000 virtual mental health visits. In 2020 and 2021, we had 20 million. We need to continue breaking down barriers so people can easily locate the right resources, whether it’s virtual or in-person. It can also help to reach populations like young adults, who may be more comfortable talking about these types of issues in a virtual setting.
Of course, not every company is in the healthcare industry, but every company will be affected by healthcare and mental health in some way. The programs we offer our employees are available to anyone, but companies can also consider offering training like Mental Health First Aid or Talk Saves Lives, a program provided by the American Foundation for Suicide Prevention that provides research on suicide risks and prevention.
Defining Success
Karen has been named to Fortune’s “50 Most Powerful Women in Business” list for the past six years, including top rankings in 2021 and 2022. She has received numerous other awards and recognitions for her achievements in health and business.
3 Lessons About Leadership From Karen Lynch
Here are five lessons about leadership from Karen Lynch.
1. Believe in Yourself
Self-confidence is a very underrated leadership trait. It’s the difference between seeing failure as a valuable learning experience and seeing it as an indicator of value.
Lynch emphasizes the importance for leaders to know themselves, set realistic expectations, and feel comfortable with themselves. “There will always be little voices in your mind that will say you can’t do this or question it. And you just have to move past those voices and say: Yes, I can.”
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Of course, self-confidence goes hand in hand with self-care. In a role with so much responsibility, Karen is mindful of her well-being. She creates a healthy work-life balance by pursuing her hobbies, which include daily exercise and language lessons in the evenings. She believes that “if you can’t take care of yourself, you can’t take care of others.”
2. Promote inclusivity
Karen’s childhood and early adulthood experiences ignited her passion for making both mental and physical health care accessible to all. Speaking on a JPMorgan Chase podcast episode, she explained how the loss of her mother – who suffered from mental illness – and aunt highlighted the difficulties patients face when trying to access proper care.
“He said, “These experiences fueled my passion for healthcare and enabled me to make a difference in educating people about healthcare, giving people access to healthcare, helping people understand the options that are available in healthcare.” In a recent interview with Jim Cramer on CNBC television, Lynch discussed plans to close 900 CVS stores, a decision the business took to address over-saturation.
He affirmed that 85% of Americans live within 10 miles of a C.V.S. pharmacy and emphasized C.V.S.’s commitment to ensuring no pharmacy goes vacant. “We will not close stores where people need medicine.” In March, C.V.S. completed the acquisition of Signify Health, a leading technology and services company focused on bringing doctors to the home. “With our expanded capabilities, we will bring healthcare closer to people by making it more affordable, convenient, and connected,” Lynch said.
3. Focus on agility
Not at all deterred by the rapid pace of technological change, Lynch is a pioneer in digital healthcare. Before the COVID-19 outbreak, CVS’ MinuteClinics facilitated nearly 9,000 telehealth psychiatric appointments. Over the past three years, they have made nearly 30 million appointments. Lynch welcomes the change, acknowledging the company’s impact on people suffering from mental health problems.
