Looks like another retailer is turning its attention to the healthcare sector.
Best Buy sees a few opportunities to make moves within the space, according to a CNBC article.
Market Trends to Watch for Health Systems and Their Specialty Pharmacies
The future looks bright for the integrated specialty pharmacy model – for health systems, providers, and most importantly, for patients.
In an earnings call last week, CEO Hubert Joly said the Richfield, Minnesota company is “exploring the health space with a focus on older Americans,” according to a Seeking Alpha transcript of the call. “We already have sold a variety of health-related products and technology products designed for seniors, like specially designed phones and medical alert systems.”
Best Buy is now testing a service called Assured Living that utilizes tech to help older people stay healthy while at home, Joly said.
“One thing as we’ve talked about is how technology can help people stay in their home for longer,” he added.
This news comes at a time when a plethora of non-traditional players are entering the medical world.
Health Executives on Digital Transformation in Healthcare
Hear executives from Quantum Health, Surescripts, EY, Clinical Architecture and Personify Health share their views on digital transformation in healthcare.
Best Buy competitor Amazon is forming a joint venture with J.P. Morgan and Berkshire Hathaway, though that project is apparently having a rough time finding a CEO. The Seattle organization has also hired both a geriatrician and the former FDA chief clinical informatics officer.
Meanwhile, Apple has invited hospitals to beta test a personal health record feature for the iPhone. Two months later, it came out of the pilot and officially launched the Health Record tool. Earlier this year, the company also revealed a website signaling its interest in medical clinics to serve its employees.
Another behemoth, Walmart, wants to scoop up health insurer Humana. The retail giant also joined forces with Emory Healthcare to create an accountable care organization allowing employees at Walmart, Sam’s Club and Walmart Distribution Center locations in metro-Atlanta to choose the Emory Accountable Care Plan as their primary health plan.
Photo: Pixtum, Getty Images