There has been a prevailing war of dominance in the Healthcare Industry that has involved two new entrants; CVS Pharmacy and Amazon. The two economic giants have been using all the possible means to make sure that they win the consumers from the health sector. For instance, some information from an unidentified source indicates that CVS is at the brink of acquiring one of the largest insurance company in the United States, Aetna. The same source states that Amazon too has been licensed to distribute pharmaceutical equipment to several states. The licenses, however, do not indicate any permission to sell any prescription drugs, but rumors have it that plans are underway for Amazon to obtain authorization for the same.
It is quite evident that economic dominance is the bone of contention between the two giants. As we all know, Amazon is already famous for its “jack of all trades” nature; all kinds of merchandise are transacted by the company. Indulging in the healthcare industry will now imply that the organization dominates the economy and the involved consumers in all aspects. On the other hand, CVS has a strong medical foundation that has enabled it to build an appealing reputation in the industry. Its dominance strategy involves the combination of its pharmaceutical services with comprehensive care and health insurance services.
CVS is trying to demonstrate the changing face of healthcare industry where it is trying to complete the life-cycle of the healthcare industry and become the undisputed market leader. This process is being implemented by ensuring that the entity provides all the needs in healthcare such as pharmaceutical services, clinical operations, and healthcare insurance. Therefore, customers will purchase all the products and services they need under one umbrella. This is a technique that has been used by other organizations to establish dominance in other industries.
Entrepreneurial minds like Drew Madden have eventually come to the rescue of the healthcare industry. Through their innovation, Madden and his team at the Nordic Consulting Partners incorporated the use of Information Technology in the performance of medical operations. This development has brought about very positive results and improved efficiency in the sector and consequently lowering the cost of medical services for the patients.