The report uncovering that CVS had prospects of buying the giant health insurer Aetna stirred excitement in the activities of the healthcare community.
Another report revealing that Amazon got pharmacy licenses in several reports had the same effect on the industry. Amazon licenses involved the supply of medical equipment rather than distributing prescription medicines, although it’s evident that Amazon could get ready and obtain these permits as well.
The above said moves are highly similar and related. The apparent connection came about in the event where very many investors shed their shares in pharmacy stocks in the development of the report on the Amazon move since it is believed that Amazon will go headfirst into the pharmaceutical sales. Amazon is set to be an intimidating competitor with its reputed capability to overturn markets and even its footprint in expansive retail after it bought Whole Foods.
The Amazon threat grows on a daily basis and forces innovation of key players such as CVS. The firm’s move to pivot the health insurance is a defense measure against Amazon, announcing to deliver next day prescriptions nationwide. Refer to This Article for more information.
Despite these surface connections, these decisions have deeper relations as they target at owning the customer in the healthcare market. Naturally, for Amazon, which is commonly termed as the everything stores, adding pharmaceuticals would extend this face as seen by the consumers. On the other hand, CVS takes a somewhat different strategy in response, by building on its established retail and healthcare footprint combining pharmacy, routine care and insurance services for health services located near the customer.
Drew Madden is a passionate entrepreneur in Healthcare IT with experience in creating teams of high standards, real client partnerships, attractive and unique business culture.
Drew became a part of Nordic Consulting Partners back in 2010 where he would serve as president since 2011 to 2016. Nordic in the world’s largest Epic consultancy company with many KLAS awards for excellence in consulting, including number one rank for implementing Epic services from 2012 – 2014.
In Drew Madden‘s tenure, Nordic would grow from 10 to 725 workers, 3 to 150 client partners, and annual revenue of $130,000,000 from $1,000,000.