It’s been a tumultuous past couple years for retail health companies —but there are still reasons to believe in the convenient model that retail health offers, said Annie Lamont, managing partner and co-founder of Oak HC/FT.
Retailers aren’t giving up on healthcare — but they are trying to be more strategic in their efforts to disrupt the space. As these companies re-strategize, experts think they need to center their efforts on building trust and fostering long-term patient engagement.
The progress in artificial intelligence (AI) is reshaping patient care, across various dimensions, from facilitating faster discharge to curating treatment plans and suggesting lifestyle changes.
Here is a selection of recent executive hires, promotions and layoffs occurring across the healthcare industry.
Blue Cross Blue Shield of Massachusetts has added Eden Health, On Belay Health Solutions and VillageMD to its primary care network. The physician groups will provide both virtual and in-person care to members.
Patients are struggling to find the right care, and that's because the healthcare system is fragmented, according to Andrea Walsh, president and CEO of HealthPartners, an integrated healthcare provider and insurance company. Walsh made these comments Wednesday at the HIMSS 2023 conference in Chicago.
Analysts predict that disruptors could own as much as 30% of the $260 billion primary care market by 2030. A recent report from the American Hospital Association outlines major moves the healthcare industry should be watching this year from disruptors like Amazon, CVS and Walgreens — from billion-dollar acquisitions of primary care companies to expanding clinic locations to efforts in the home care space.
Hear executives from Quantum Health, Surescripts, EY, Clinical Architecture and Personify Health share their views on digital transformation in healthcare.
Tim Barry, CEO of VillageMD, is encouraged by the shift he's seeing to value-based care, but is worried that new technologies could create a fragmented system. He made these comments after the value-based company announced Thursday that it completed its $8.9 billion acquisition of Summit Health-City MD.
To combat this issue, Joan Harvey of Evernorth stressed the importance of an omnichannel care model that leverages both in-person and virtual care. She made these comments at the HLTH conference in Las Vegas.
The combined organization will have more than 680 provider locations in 26 markets. With CVS Health and Amazon both making major acquisitions, the Summit Health deal was both offensive and defensive for Walgreens, one expert said.
The company launched a new health division, and has doubled down on its plans to open primary care clinics with VillageMD. It faces big competitors in CVS and Walmart, and it’ll take time to see if its new strategy pays off.
Closing cancer health equity gaps require medical breakthroughs made possible by new funding approaches.
Walgreens plans to invest a total of $5.2 billion in VillageMD, up from its original plans to buy a $1 billion stake in the primary care company. It’s part of a broader consumer health strategy Walgreens plans to use to grow its business in the future.
As part of a partnership with primary care provider VillageMD, Walgreens plans to open 29 clinics in Texas this year. In total, the companies plan to open at least 600 clinics over the next four years.
VillageMD, a primary care startup that has Walgreens as a big backer, is reportedly planning to go public. The company has plans to open hundreds of co-located primary care clinics at Walgreens pharmacies.
The retailer plans to open primary care clinics in Houston, El Paso, Austin, Phoenix and Orlando by next summer as part of its partnership with startup VillageMD.
Facing declining retail traffic, particularly overseas, Walgreens posted a net loss of $1.7 billion for the quarter ending on May 31. The company still has a long road ahead, but analysts said they liked its long-term strategy with VillageMD.