When Amazon first reported that the company received its pharmaceutical license, pharmacy benefits managers (PBM’s) took notice. However, CVS had already taken a huge leap to prevent Amazon from gaining too far ahead of the health care industry by purchasing Aetna Healthcare.
With the conclusion of the deal, CVS will help 23 million Aetna members save more than $1 billion per year using its MinuteClinic. CVS purchased the retail-based clinics in 2006, and the company has more than 6,200 stores nationwide. MinuteClinics have certified nurse practitioners and physician assistants who are not only trained to diagnosis common illnesses, but they also provide prescriptions.
Although Amazon’s license purchase is only for durable medical equipment, the next logical step could be to obtain a prescription license as well. With Amazon’s dominant presence within home delivery that is soaring across the country, there appears to be an attempt to create an ownership of consumer health care.
Amazon executives are fully aware of the factors involving the Affordable Care Act that has perplexed the health care industry since being implemented. The retail company has a consumer advantage to affect change on the drug prices.
However, with one of the largest health care companies in the country combining resources with one of the largest PBM’s, there is a question of who becomes the biggest owner of consumer health care. Either way, there is ample opportunity for consumers to reap the benefits from Amazon or CVS with the advanced technology and resource allocation to help with healthier choices and reduced costs. The purchase creates technology advantages that could create formidable changes within the entire health care insurance landscape. Click Here for more information
Drew Madden is a passionate Healthcare IT entrepreneur. Madden’s been a lead consultant on business development for major firms for the last decade. Drew Madden was previously President of Nordic Consulting Partners from 2011-2016. The firm provides leading health care strategy and managed services for improving health care business operations. Drew has an expertise in electronic medical record data and has implemented significant improvements for companies by optimizing teams that bring the best collaboration results.
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