Competition in the modern consumer goods industry is cutthroat with firms willing to leverage the slightest window of opportunity to gain a competitive advantage over its competitors. The recent moves by Amazon and CVS Health are case in point.
Amazon, an American e-commerce company, dealing in an array of consumer goods, announced that many state pharmaceutical boards had approved its request to become a wholesale distributor of health-care related equipment. Although the approval does not incorporate the right to distribute prescription medication, investors in pharmaceutical companies are a worried lot. According to them, it is just a matter of time before Amazon seeks regulatory approval to retail prescription medicine, eating away at their control of the market. Read This Article for related information.
Apparently, more than just investors have been observing Amazon. CVS Health, a significant player in the retail pharmacy trade, came out with its gun blazing announcing its planned purchase of Aetna for a whopping $69 billion. Although the company wants us to believe the planned acquisition has nothing to do with Amazon, experts including Stephen Kraus, a partner at Bessemer Venture Partners, thinks otherwise. Kraus is convinced that CVS Health’s purchase of Aetna, a health insurance giant, is a ploy to tame Amazon’s conceived takeover of the consumer healthcare industry.
CVS is seeking to carve a niche for itself as a one-stop provider of all consumer-health related services, pharmacy, insurance, and routine care. The Woonsocket, Rhode Island-based CVS is not about to give Amazon an easy time. The two are expected to battle it out, and the biggest beneficiary is the American consumer. With CVS and Amazon’s well-developed retail networks across America, it can only mean more and more people will access quality healthcare service.
Drew Madden blends into the ranks of corporate America with professionals who are hardly noticed for their revolutionary contributions to the health sector. Madden has made a career out of incorporating technology into the American healthcare industry. His tenure at the helm of Nordic Consulting Partners, a consultancy firm with interest in EHR, is well documented. Madden instituted strategies that saw Nordic experience its most significant growth so far.
Over the past few years, various organizations and entrepreneurs have been prompted to dive into the healthcare business. Good examples are the CVS Pharmacy that began considering purchasing Aetna Inc., a health insurance giant, in late 2017. Amazon has also been known to attain pharmacy licenses to grant them permission to sell health-care related equipment in several states.
While the main goal is to improve the quality of healthcare services being offered, the industry has a lot of prominent opportunities. It is no surprise that investors are interested.
Here are some of the needs currently on the healthcare market.
Health tracking hardware
For decades, doctors have had problems analyzing the health diagnostic data of their patients. This is due to the fact that it is a manual process that is not only tiresome but also unreliable. Sometimes, data goes missing or is incomplete. Health entrepreneurs can provide health diagnostic hardware to make work a lot easier for doctors. Eventually, healthcare consumers will get better services.
Care Coordination Technology
The public healthcare sector lacks adequate technology in the caregiver management. This leads to massive waste of resources. As a healthcare entrepreneur, one can invest in creating and using simple care coordination technology to promote efficiency in the industry.
Investors can also purpose to eliminate medical fraud that has become increasingly common. This is where IT healthcare investors come in. Drew Madden is one of the world’s best IT healthcare entrepreneurs. Go Here for more information.
Drew madden is an IT healthcare investor who is passionate about his work. With more than a decade’s experience, he is a pro at managing as well as implementing healthcare projects. He also has a pure interest in creating exceptional company cultures.
He is the former president of Nordic Consulting Partners. The company grew tremendously under Drew Madden’s leadership. They increased their number of employees and clients.
Currently, Mr. Madden is a partner at Evergreen Healthcare Partners. He works hard together with the other partners to ensure that most needs in the healthcare sector are met.
Efforts to improve the healthcare industry are ongoing. Organizations are interested in filling the gaps present in the provision of healthcare services. With the assistance of highly competent IT healthcare investors like Drew Madden, not even the sky is the limit.
Read More: https://angel.co/dtmadden