The American government is spearheading efforts to foster the entry of new players into the country’s healthcare industry. Apart from initiatives such as Startup America, Healthdata.gov, and Open Innovator’s Toolkit, significant regulatory shocks are unfolding, all in an attempt to create a conducive set-up for entrepreneurs and companies to flourish in healthcare.
In light of the regulatory shocks sweeping through the healthcare industry, Amazon—a renowned retail e-commerce giant—sought and obtained pharmacy licenses to distribute healthcare-related equipment to several states of the U.S. Whether the e-commerce giant is planning to take up a more prominent role in the healthcare industry is a question that is open for debate.
Amazon, established 23 years ago, has a vast retail network, reaching millions of Americans. Amazon’s recent acquisition of Whole Foods Market increased the company’s presence in the U.S. If the company’s eventual plan is to distribute prescription medications, then a significant occurrence is awaiting the healthcare sector.
CVS Health, a retail pharmacy company, is convinced that Amazon is plotting on bringing competition to its door. And the Rhode Island-based company is prepping for a face-off. CVS Health recently announced its intentions to acquire Aetna, a healthcare company that retails consumer-directed health care insurance plans. CVS is expected to fork out $69 billion to purchase Aetna in a strategy that New York Time believes would “reshape the American healthcare industry.”
Amid the looming showdown, the American consumer has a reason to smile. If Amazon and CVS Health engage in a competition, each company will offer the American healthcare consumer incentive(s). The quality of service delivery is likely to improve significantly. In fact, CVS Health unveiled a new service package that is capable of delivering prescription medications to its clients (across America) in under 24 hours.
He is a healthcare IT entrepreneur who fancies competition in the industry as it fosters innovation and quality service delivery. He is a managing partner at Evergreen Healthcare Partners. The firm is seeking to shape the healthcare industry through intuitive electronic health record solutions. Drew Madden is an asset to the company as his electronic medical records skills are impeccable.