CVS Pharmacy is going to buy the health insurance giant, Aetna. Amazon has acquired chemist licenses in multiple regions across the US. The two moves led to investors shedding pharmacy stock shares as they believed Amazon would start selling drugs. Amazon will become a formidable player with its expansive footprint and abilities to upend markets.
Legacy pharmacies like CVS are turning to innovative measures to keep up with Amazon threats. CVS improving its health insurance packages is a defensive approach against Amazon. The two firms are implementing plans to win more shares in the healthcare market. Amazon stores everything and selling pharmaceuticals will be an addition to its general consumer platform. In response, CVS is combining routine care, pharmacy, and insurance packages for detailed health services. The pharmacy will gain the competitive advantage over its competitors.
The US healthcare industry has grown into a massive sector worth $3 trillion. An average American spends around $9,237 in healthcare services. Inviting investors into the industry is an ideal move to save lives.
The significant regulatory shocks are creating opportunities for potential players. Healthcare culture can now support innovations. The healthcare industry plans on building a web product that will make it easy for people to develop advance directives and access them anytime. Another clear change is the use of tracking hardware and software to acquire simple health reports of a patient.
Drew Madden is a capitalist and IT healthcare executive. He is after establishing a business environment with trusted customer partnerships, high caliber teams, and unique culture. He became the president of Nordic Consulting Partner in 2011 until 2016. The organization is the largest major outlet and winner of the KLAS titles due to its excellent services.
Drew Madden attended Iowa College of Engineering for his undergraduate program in industrial engineering. He started his practice as a healthcare IT expert at Cerner Corporation. Mr. Madden served in Ingenix as a consultant and in the business development unit. During his leadership at Nordic Consulting Partner, the firm made annual revenue of$130,000,000 and raised the number of workers to 725.