The question that has been on many keen industry analysts is when and not if Amazon will join the prescription medication industry. A report released a few days ago showed Amazon’s advanced plans to enter the pharmaceutical equipment supply industry having secured licenses in some states. Even though Amazon is limited to the supply of equipment, many already expect the online retail giant to join prescription medications distribution soon or later. While the timing caught a few pharmaceutical industry watchers off guard, the report has been sufficiently factored in the market now, resulting in Pharmaceutical industry heavyweights losing some points in the stock market.
The entry of the tech giant into pharmaceutical retailing was bound to ruffle feathers, and it surely did as CVS another giant in the Pharmaceutical sector announced strategic plans of its own. CVS plans to acquire insurance health giant Aetna. This is seen as a strategy to move toward dominating the industry. With an established pharmacy and routine care footprint around the country, the addition of insurance services to the portfolio is likely to give it a competitive edge. That will make it difficult even for disruptive entrants like Amazon to affect CVS’ market.
Despite the strategic maneuvers of the two giants, the health care system is still full of opportunities, especially in the Health IT sector. Seasoned Health IT experts like Drew Madden will acknowledge that Healthcare players are yet to take full advantage of information technology. Areas like logistics tracking within hospitals, care coordination for the public sector, medication reconciliation management, resident rescheduling platforms, and many others offer ripe opportunities for investments. They also are areas that the health sector needs to streamline to improve performance and efficiency.
Improving on efficiency especially with technology is the exact thing that Drew Madden advocates for and helps companies achieve. The entrepreneur has a long experience in Health IT applications section having worked for giants like Nordic Consulting Partners. In his co-founded company Evergreen Healthcare Partners now, Drew Madden works with companies helping them foster them streamline their corporate culture, develop high caliber teams, and build client partnerships that are trustworthy.