Technology has always moved in to disrupt the old way of doing things. The healthcare industry is not going to be spared either. This became even clearer when it was reported that Amazon is joining the healthcare industry having secured strategic licenses in various states.
Although the licenses Amazon obtained allow it to only supply pharmaceutical equipment, many health industry analysts believe it is just a matter of time before the online retail giant begins the distribution of prescription medication. This will outrightly disrupt the pharmaceutical industry as we know it. The experience of Amazon’s use of technology disrupting the retail sector in the world is still fresh in the minds of many investors. As a result, the stocks of the pharmaceutical industry lost a bit of value as the report came out.
It is not only Amazon that is after the big fortunes in the healthcare industry as another big announcement was made at the same time of another planned big deal. CVS has moved to strategically position itself in a bid to defend and acquire more of its market. The company is planning to take over health insurance giant Aetna. This will be coupled with a nationwide next-day delivery strategy for prescriptions, an option seen as an attempt to counter the entry of Amazon.
Despite the adjustments in the industry, healthcare sector still presents a lot of investment opportunity. Technological innovations haven’t saturated the industry. Investors can introduce technological products in areas such as advanced care planning, post-acute rating and referral systems, and health tracking hardware.
Passion for application of technology in the health sector is what defines Drew Madden. Having worked in the health IT sector for years, Drew Madden has the right experience to spot a great opportunity when he sees one. While working for Nordic, Drew Madden implemented an aggressive growth strategy that saw the company become one the top-most Epic Consulting companies.
Drew Madden is a B.S.E Industrial Engineering graduate from the University of Iowa College Of Engineering. As an entrepreneur, he now focuses on the development of high caliber teams, unique and attractive corporate culture, and client partnerships based on high-level trust.