'Amazon' the New Medical Supply Company?

If you haven’t been trapped in an underground cavern for the last few years then you have heard of the company Amazon. But have you heard of Amazon in relation to healthcare management and medical supplies? As it seems Amazon is wanting to get in on the healthcare or medical supplies business which is making major medical suppliers a tad bit uncomfortable.

While Amazon currently sells some healthcare supplies through their platform ‘Amazon Business’ they are looking to expand its footprint within the healthcare market.

With a well established and well funded company such as Amazon other medical supply focused companies are being put in the hot seat to cut costs to increase margins to stay competitive.

Still Amazon has a lot of hurdles to face such as an already set up and heavily contracted marketplace, especially Premier and Vizient who has a good grip on more than half the market share and understands the ins-and-outs of supply logistics and storage while already having a relationship with their vendors. But the fact that Amazon is showing interesting in wanting to be a key player in the medical supplies business should alone, make companies think twice and look at their game plan on how they can keep a handle on their piece of the proverbial pie.

Share your Thoughts:

Do you think healthcare management should be willing view Amazon as a healthcare supplier? What would you do to prepare, if anything as a healthcare supply company? Do you think healthcare management should take a step back from signing long term supplier contracts to enable the best pricing?

Thank you to Baylor University MBA in Healthcare for helping their students navigate the always changing landscape of healthcare management.

Sources:

https://www.advisory.com/daily-briefing/2017/06/15/amazon-medical-supplies?WT.mc_id=Email|DailyBriefing+Headline|DBECTake|DBA|DB|2017Jun15|ATestDB2017Jun15||||&elq_cid=1339315&x_id=003C000001tclvqIAA

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What does a Healthcare Consumer Want?

Healthcare management may have some new insights into what consumers want out of their healthcare. In a survey completed by the Advisory Board group they what consumers prioritize in their search for healthcare.

Here are some of the survey’s findings:

When asked to rank ‘Access and Convince’, ‘Provider Continuity’ and ‘Provider Credentials’ those surveyed ranked Access and Convince as most important.

This finding corresponded with 56% of consumers being willing to use retail clinics and 42% willing to try email visits.

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The next portion of the survey healthcare management should be mindful of pertained to primary care physician (PCP) loyalty.

When those surveyed were given scenarios on what would cause them to switch PCP it was not competition but instead missteps from their current primary care physician. So the takeaway was to not worry about the competition but your own PCP competency.

The other scenario that caused people to switch PCP was if their annual costs increased by more than $250, this rise was more likely to cause a switch then medical missteps.

And one of the most important takeaways for healthcare management was that manners matter in a PCP. Patients were more likely to switch if they were met by rude staff than different staff. So note to healthcare management; make sure your staff are friendly and courteous, it may just keep your patients coming through the doors.

Share your Thoughts:

Do you agree with these findings? Do you think healthcare management should take these finding into consideration? What do you feel is important when needing to see a physician or continuing to see a primary care physician?

Thank you to Baylor University MBA in Healthcare for taking a comprehensive approach to educating future healthcare management.

Sources:

https://www.advisory.com/research/market-innovation-center/resources/posters/what-do-consumers-want-from-health-care?elq_cid=1339315&x_id=003C000001tclvqIAA&WT.mc_id=Email%7CDailyBriefing+Spotlight%7CBoldDB2017Jan09%7Cinfo%7CMIC%7C2017Jan09%7Cpatexp%7C&elqTrackId=118cf5776293458f853276ac3c38271c&elq=85fb3a58839a4c4da8751f543c5c9e8d&elqaid=62508&elqat=1&elqCampaignId=28694

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