Drew Madden: More Relevant Than Ever
What in the world is happening to retail?
The past few years have seen some tragedies in the retail sector. Companies are falling off one side and getting swallowed up on the other, and those that stand in the middle are getting crushed or narrowly escaping fate’s clutches as retail giant Amazon charges through multiple industries, throwing businesses of every sort off a cliff or assimilating them into its own infrastructure a la Borg. However, the colossus isn’t done cutting its historical swaths through companies both old and famous; the recent collapse of Toys “R” Us and Amazon’s acquisition of Whole Foods has proven that they’re not done. In fact, they’re only getting warmed up.
Where It’s Headed Next
The newest problem that’s been introduced to the retail scene is Amazon’s advancement into a totally new industry: the medical field. They’re not currently able to sell prescription medications yet, but they did recently succeed at obtaining licenses to permit the delivery of medically focused equipment in several states. This equipment can be sold to establishments or individuals; it doesn’t matter who needs it. The fact is, Amazon is now a provider of such resources, and that’s a problem for retailers such as Rite Aid and Walgreen’s.
It’s only getting worse. Amazon’s sights are set next on the licenses that are required to legally distribute prescriptions although there’s no telling whether they’ll be able to do so via drone. For now, CVS is firing off their own salvo with their advances on major medical insurer Aetna, a company that already covers a significant chunk of the country. Of course, if CVS were to take the helm here, that would instantly make them an insurer of millions of Americans, and better yet, they could sell this service right inside their own stores.
Why Drew Madden Matters
There’s an IT side to all of this that shouldn’t be ignored. Drew Madden has been rising in media prominence recently because of Amazon’s influence on the medical industry, and this man’s expertise in health care IT will be essential for CVS to entrench themselves in an effective health care solution that can push Amazon back. For the time being, Amazon can’t really provide insurance; they’re strictly retail at the moment. For CVS’ sake, this is probably a good thing, and Drew Madden can ensure that companies of this sort can maintain their traction for years to come.