Amazon, a well-known retail e-commerce giant, in the last quarter of 2017 announced its maiden entry into the country’s health care industry. Apparently, Amazon had been seeking pharmacy licenses, and the announcement confirmed the Seattle-based company had received the approval of many state pharmaceutical boards to become a wholesale distributor of health-care-related equipment. Needless to say that Amazon has a well-oiled distribution network, cutting across the U.S.
Amazon’s move without a doubt would elicit responses from players in the health care sector, who are convinced that Amazon is a threat. CVS Health, a retail pharmacy based in Rhode Island, became the first health care company to make a strategic move to counter Amazon. Following Amazon’s revelation, CVS Health announced its plan to acquire Aetna, an insurance firm issuing health care insurance plans and related services. Reports indicate that CVS would spend a whopping $69 billion to acquire the insurer.
CVS Health’s plan to acquire Aetna, however, is not a direct challenge to Amazon’s current interest in the health care sector. The acquisition, according to health care pundits, is a strategic move to safeguard CVS Health’s business interests in case the e-commerce giant diversifies its business to include retail pharmacy, a situation that many are convinced is imminent.
While analyzing the above occurrences from the American health care consumer’s perspective, industry barons argued that the recent developments are likely to make health care readily available and possibly cheaper. The reasons being both Amazon and CVS Health have distributions networks across the whole of the U.S, reaching millions of Americans.
The mergers, acquisitions, entry of new players, etc., are a small fraction of the developments in the health care industry. The American health care industry advances technologically by the day, courtesy of health care IT entrepreneurs such as Drew Madden.
Drew Madden has dedicated over 10 years of his distinguished career to innovations meant to improve electronic medical record systems. He, therefore, has acquired expertise necessary to develop, optimize, implement, and troubleshoot complex EMR systems. Drew Madden has worked with the industry’s leading EMR professionals, creating invaluable networks. He is currently a partner at Evergreen Healthcare Partners