According to recent reports, healthcare is an attractive industry for most investors. The reports highlight CVS and Amazon battling to own the healthcare consumer. Both of the companies are making significant moves towards establishing business in healthcare. Recently, Amazon acquired license for distribution of healthcare related equipment in multiple states. The report also indicates the company’s intention to obtain more pharmacy licenses including distribution of prescription medication. On release of the report, several investors in the pharmaceutical industry shed their shares in bow of Amazon as a competitor in pharmaceutical sales.
Although Amazon has not clearly stated its intentions to venture in pharmaceutical sales, it is apparent from its moves and response of other firms in the industry. CVS for instance is acquiring Aetna as a first move in venturing in health insurance. The pharmaceutical company has also introduced next-day prescription delivery across the nation. These are indications of CVS preparations to compete with Amazon and maintain its market share.
Amazon venturing in pharmaceuticals is a game changer for existing firms in the industry. Reports indicate increasing innovation among key players in the industry. Pharmacy Benefit Managers (PBMs) are also enhancing their level of services to remain relevant in the industry. Amazon is a real threat to the industry because it is already a universal store across the United States. This offers it a wide consumer platform thus an upper hand in any new venture. Visit This Page for more information.
About Drew Madden
Drew Madden is a graduate in Industrial Engineering from University of Iowa College of Engineering. He specialized in Medical Systems. Madden began his career in IT entrepreneurship at Cerner Corporation. The Healthcare IT entrepreneur focuses on Electronic Medical Records (EMR) where he collaborates with professionals in healthcare and technology fields to solve complex challenges. Drew is renowned for building efficient teams and unique company cultures that attract prime clients and long-term partnerships.
Mr. Madden served as the president of Nordic Consulting Partners for five years. During this period, the company’s annual revenue grew from $1 million to $130 million. Additionally, employees number came up from 10 to 725 and client partners increased to 150.