New players are entering the U.S. healthcare system and presenting potential challenges for traditional healthcare providers. Pharmacy retailer CVS is acquiring insurance giant Aetna, and also operates more than 1,000 MinuteClinics where patients can get their minor emergencies, vaccinations, and workplace physicals taken care of with no wait. Walmart is considering acquiring insurer Humana, which recently acquired a 40% stake in home healthcare provider Kindred Healthcare. Amazon, Berkshire Hathaway, and JPMorgan Chase are creating a healthcare company to address their spiraling healthcare costs for their own employees. Should they succeed, there's no telling how many employers will either emulate them or hire their healthcare expertise to benefit their own employees.
What does this all mean? That the distinctions between employers, payers, providers, and healthcare-related retailers are becoming more blurry by the week.“I think the biggest challenge in healthcare today is to recognize all the disruptions that are going on inside the market space," says Terry Carroll, Chief Digital Officer of the SPRING Network, which focuses on organizational strategy design. He has served several major healthcare provider organizations including Dartmouth-Hitchcock, Fairview Health Services, Detroit Medical Center, and Baystate Medical Center.
“Whether you look at CVS/Aetna, which is trying to push toward the retail approach, or Amazon/JP MorganChase/Berkshire Hathaway, they're going to be bringing technology models and managing large populations that are more directly under their control. It is a fundamental shift."
