What Drew Madden Knows About CVS And Amazon
The healthcare market is about to get a lot more interesting, at least as far as Drew Madden sees it. As a former healthcare information technology employee, and current entrepreneur in the same field, he loves to follow the latest happenings in healthcare. Since the middle of last year, all of the buzz has been about CVS and Amazon. Each has made splashy news headlines for different reasons, but each has every reason for us to pay attention to them.
Amazon wants to gather together its army of loyal customers to come to them to purchase their pharmaceuticals directly from Amazon via the Internet. In order to do so, they will first need licenses from the various states to give them the right to do this (thus the splashy headlines).
While that is happening, CVS has prepared its own strategy to create more traction for its business. They have purchased up a healthcare insurance provider (Aetna) to help make its business a full circle for customers. These days, someone can literally purchase their insurance from CVS and use said insurance to pay for their prescriptions at a CVS location. This helps CVS to hold on to more of their precious customers throughout the whole lifecycle of that customer.
Amazon only wishes that it had that kind of monopoly already in existence in the healthcare sector. They have not yet been able to achieve all of that. In fact, they are just entering the first phase of the whole process. They have only now applied for the licenses. Still, this was enough to generate a lot of headlines throughout the financial press about Amazon possibly starting to become our supplier of pharmaceutical drugs on the Internet.
These are the kinds of things that are bound to shape the whole industry in the near future. It is something that is bound to happen in the near future, and we all might just benefit from it greatly with our healthcare purchases.