Some of the reports dominating the healthcare industry include two surprising announcements where two mega companies are involved. One of the stories indicates that CVS is considering buying all the stocks of Aetna, a health insurance giant in the industry. One may wonder what business strategy CVS is trying to adopt, but one has to understand that the company may be looking forward to combining its sale of over the counter drugs with health insurance covers. This means that the company is looking forward to expanding its operations to not only prescriptions but also to include healthcare insurance policies and comprehensive care for patients in the nearest store.
On the other hand, Amazon, an online retail giant, is acquiring pharmacy licenses in different states around the country. This is a clear illustration that the firm is looking forward to selling prescriptions to its vast clientele around the country and the world at large. Amazon has been known to sell other products, but venturing into prescription medicine has never been its thing. Venturing into this industry is likely to bring out aggressive competition from other organizations which have been selling the prescription drug without expecting competition from such a large company in their industry. As it stands, Amazon seems to have an immediate impact given the trust customers have on the Ecommerce entity when it comes to delivering other goods.
There is a clear indication that the two organizations are looking forward to dominating the healthcare industry and creating a perspective that they ‘own’ such circles. Buying a healthcare insurance firm is a clear indication that CVS is expanding its products such that it has large goods and services to provide to its customers. CVS is trying to use this strategy as a way of demonstrating that it is ready for any competition that may arise if Amazon chooses to enter the pharmaceutical industry.
About Drew Madden
Drew Madden is a renowned information technology expert who has immensely contributed to the adoption of technology in the healthcare sector. He is a partner at Evergreen Healthcare Partners, an organization that is looking forward to changing healthcare industry through innovation. Madden has indicated that he welcomes competition in the industry, which is a key suggestion that he is aware of the strategies implanted by Amazon and CVS.