Amazon into Pharma & Healthcare: How & Why?
Amazon is now a household name. The so-called & depicted as “Apni Dukan” is now entering into Pharma & healthcare space & the plan seems big.
Read these News headlines, try to ponder over it & you will get a hint of long-term strategy of Amazon.
Amazon’s move into pharma could be a game changer: same-day prescription delivery, orders via Alexa.
Amazon gets a drug distribution beachhead in PillPack buy.
Why Indian pharma need to track Amazon’s plans in health care?
Amazon finally moved into healthcare. What’s next for pharma?
So, what do you think?
All these news headlines are indicative of a long term strategy for its entry into health & pharma sector. Having high cash flow & big revenues give good basing to Amazon’s foray in Pharma sector. Also to note here is that Amazon is habitual of replicating the successful business models to make them a Global Phenomenon!
Amazon into pharma drug delivery business. How?
Amazon Prime: Amazon is known for its Amazon Prime delivery proven model where it has ability to deliver the goods same day or next day to the max. Due to economies of scale, the logistics have high efficiency. With the recent acquisition of “Pillpack” amazon could venture in getting the orders for prescription medicines & with its delivery model of Prime, may deliver the pack of ordered medication-same day.
What else the patient needs! Get discharged from the hospital, order medications on the way & get it same day when you reach home. Also, the discounts make this option more luring.
Data collection with Alexa: Alexa is the digital assistant offered from Amazon. You can simply give voice commands & it will perform accordingly. It is Google assistant Kind of thing. But here is the catch. Along with all other kind of voice commands, there is also the Pill reminder commands like” Alexa: Remind me of taking my BP medication at 10:00am, 3:00pm & 9:00pm”. These type of Pill reminder commands are actually being converted into data. Such useful data can be used for focused healthcare & pharma marketing by contacting the person giving commands. SMART WAY!
Amazon’s Holistic approach to Healthcare & Pharma: The Amazon-Berkshire Hathaway-JPMorgan health-care venture recently has been in news. When the big conglomerates by Warren Buffet, Jeff Bezos & Morgan announce their partnership, share markets spark in a positive direction. Same has happened already. With this new healthcare venture they have shown the determined desire of making this sector more efficient. Dr. Atul Gawande, CEO of this new Venture has pointed out following points that will be addressed:
-Non-Adherence to medications (Alexa reminders will help medication adherence)
-Control on chronic Ailments
-Auto refill of medications due to automatic repeat orders
Amazon is not the only one in this arena. Internet Conglomerate Google & technology provider IBM with its IBM-Watson is also diving deep into data to create innovative ways of healthcare delivery model.
It would be interesting to see how these internet conglomerates are going to make healthcare more efficient & pocket friendly.
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