NEW YORK — Pricing pressures have become the new normal for the pharmaceutical industry. Three main factors are forcing down drug prices: government pressure, patent losses and the rise of generics. In developed markets, governments account for nearly 76% of spending on hospitals and other medical services. As a result, rising government measures to curb
NEW YORK — Consumers facing complex health conditions that are treated by specialty medications don’t need more ads. (Does anyone need more ads?) But compared to their neighbors, these patients are even more actively and consistently in a mindset of thinking about their health and finding new and better ways to manage wellness. And more
NEW YORK — There is no question that consumer shopping behavior is forcing brick-and-mortar retailers, e-commerce providers and consumer packaged goods companies to look for new growth opportunities and ways of providing differentiated shopping and brand experiences. One channel that is growing, and often overlooked, is the independent pharmacy channel, at over 22,000 stores strong.
NEW YORK — I grew up in a very small town, Yardley, Pa., in the 1970s. Main Street, “downtown,” had only one pizza place (Vince’s), one convenience store (WaWa) and no movie theater. We did, however, have two drug stores less than 150 yards from each other. In the 20 years that I lived in
NEW YORK — Physicians Robin Warren and Barry Marshall were practically laughed out of health care in 1982 when they suggested that a type of bacteria might be causing stomach ulcers. It took more than a decade before their theory that treating ulcers with antibiotics to kill H. pylori bacteria was validated, and it radically
NEW YORK — Amazon.com’s venture into the pharmacy market has finally been confirmed. On June 28, Amazon announced that it had entered into an agreement to buy U.S.-based online pharmacy PillPack. Amazon did not reveal details of the consideration, but CNBC reported that Amazon made an offer of $1 billion to acquire PillPack after Walmart
NEW YORK — For the pharmaceutical industry, and particularly drug store retail chains like CVS Pharmacy and Walgreens, Amazon.com is about to become a headache that not even the strongest pain meds can cure. The e-commerce behemoth recently announced its intent to purchase online pharmacy PillPack to the tune of around $1 billion in cash,
NEW YORK — Health care economists, health system leaders and policy makers have been talking seriously about measuring and paying for value in health care for more than a decade. Hospitals, clinics, pharmacies and practitioners across the country now are starting to move in that direction, incentivized since 2015 by Medicare’s adoption of alternative care
NEW YORK – Few industries have escaped the radical shifting of landscape that has been the collateral damage of digitization. Events that were originally called “market disruptions” have become a steady rain of complex, turbulent shifts, leaving even the most adaptive companies struggling to keep up. Disruption in retail pharmacy Although retail pharmacy seemed somewhat
NEW YORK — A year after announcing it was acquiring Whole Foods Market, Amazon.com made a splash again, this time in the health care sector. On June 28, Amazon entered into an agreement to buy PillPack, an online pharmacy that offers presorted doses of medications and home delivery, for an estimated $1 billion. PillPack also
NEW YORK — Thanks to the ever-growing applications of data analytics technology, chain drug stores have a unique opportunity to create benefits ranging from improved member outcomes to lowered spending. While the situation is evolving and the trail to driving better member health and reducing costs is still being blazed, chain pharmacies are recognizing the
NEW YORK — As technology continues to evolve, so do criminals that seek to tap it in order to defraud individuals and businesses. The FBI’s internet crime center has been monitoring the scale of this issue and estimates that in 2017 alone over 15,000 U.S. businesses were defrauded out of more than $675 million through
WEST DES MOINES, Iowa — Hy-Vee Inc. has opened its first HealthMarket here, a concept store envisioned as a one-stop shop for consumers looking to lead a healthy, more natural lifestyle. The 15,700-square-foot store combines several of the initiatives and partnerships Hy-Vee has undertaken in recent years to spur growth and keep current in a
BENTONVILLE, Ark. — Walmart has hired health care industry veteran Sean Slovenski to serve as senior vice president of health and wellness at Walmart U.S. He will report directly to Walmart U.S. president and chief executive officer Greg Foran. “Sean is a proven leader and entrepreneur with an established track record in defining and building
