A couple reports have been setting the healthcare world into a buzz recently. The initial one reporting that CVS has considered purchasing health insurance behemoth Aetna.
The next publishing showed that Amazon acquired pharmacy permissions with multiple states. (Looking at the fine print revealed that the permits comprised the distribution of healthcare devices and not the administration of prescription medicines, but it’s clear that Amazon is expected to acquire such licenses down the road.)
As we look at it, both of these two progressions are related a lot. The most evident connection, stated by various investors that own shares of pharmacy stocks during the Amazon reporting is that there’s a sincere trust that Amazon will move towards pharmaceutical sales.
Along with its demonstrated capacity to upend businesses and its broad retail footprint following the purchase of Whole Foods, Amazon can become a formidable competitor instantly. With each passing day, the Amazon factor becomes more real. It’s forcing change on legacy businesses such as CVS.
It’s apparent that CVS’s shift into health insurance is partly a defensive action on Amazon, as with its recently announced program to extend next-day delivery for prescriptions nationwide.
This is the next big step in making health care more customer-focused. By drawing in as many components of the healthcare ecosystem to one roof as possible, businesses within the healthcare industry can produce the customer experience that companies like Amazon have developed their businesses on.
Drew Madden is currently a Healthcare IT businessman that is enthusiastic about creating high caliber organizations, an attractive and unique company culture and committed partnerships.
In 2010, Drew entered into Nordic Consulting Partners and worked as president from 2011 to 2016. Throughout his occupation, the organization increased from 10 to 725 workers and from 3 to 150 client partners. He also served the company in achieving a #1 KLAS rank for Epic integration assistance in 2012 and 2014. Before, Drew served as a Willow consultant and EpicCare Inpatient and then became employed in business development. From there he partnered with healthcare companies with their implementation plans.