Walgreens, CVS emphasize personal value as Amazon threat looms
Feeling the pressure from the ever-growing presence of Amazon in the healthcare space, CVS Health and Walgreens are emphasizing their abilities to connect with patients face to face, Forbes reported.
Both brick-and-mortar companies are stressing their new partnerships with healthcare providers and services to fend off–if not explicitly–competitive threats from Amazon, which has ramped up its own initiatives in the healthcare market.
CVS is currently underway with a $69 billion acquisition of Aetna, a health insurance provider. Walgreens has forged several new partnerships, including connecting with Humana in a pilot to set up two primary care clinics for senior in Kansas. Walgreens also recently launched a digital platform and marketplace to serve customers.
Amazon, meanwhile, has acquired online pharmacy PillPack, launched its own over-the-counter medicines brand and is working on a joint venture to improve healthcare insurance costs and options for its employees with Berkshire Hathaway and JPMorgan Chase.
“But Amazon lacks a partnership with a major health insurance company, which would be a game changer if it happened or if Amazon began developing closer ties to medical care providers,” Bruce Japson for Forbes wrote.
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Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."