Author: Lara Clayton
The CVS Health Corporation revealed last month that it had paid $8 billion to purchase Signify Health. What factors could have led to this choice, and what might it mean for American healthcare in the future?
CVS Purchases Signify Health
With CVS’s acquisition, the healthcare company will be able to significantly increase the scope of healthcare services it offers. They include a vast network of pharmacies, medical insurance, and medication management services.
Patients can receive care from Signify Health through both online and in-person visits.
Additionally, the business aims to create dependable patient-practitioner relations to improve people’s Health.
The CVS company is not the only one investing in in-home treatment. CareCentrix, a provider of at-home treatment, recently received a $330 million investment from Walgreens.
Another company, Current Health, a platform for home care, was purchased by Bey Buy. In July this year. Also, Amazon intended to buy One Medical, a primary healthcare provider, for $3.9 billion.
Why is the need for in-home care increasing?
The need for in-home care is increasing for a variety of reasons. First of all, many Americans seek this service.
According to the National Association of Home Care and Hospice, there was a 125% rise in demand for home care employees between March 2020 and February 2021. After the COVID-19 epidemic, it seems clear that many patients felt more secure getting care at home. But besides COVID-19, many elderly people and others receiving treatment for chronic illnesses choose to get their care in the privacy of their homes.
What should healthcare expect in the future?
Healthcare organizations like Signify Health think that in-home care is the way of the future.
In a setting where individuals feel comfortable, doctors and other healthcare professionals may spend longer time with their patients. They can also create personalized care plans to deal with several illnesses.
Additionally, keeping patients out of the hospital will lower the cost of care. Treatment plans must be created on a particular instance basis, and just because someone can be treated from home doesn’t guarantee that’s always the best course of action for them.
Some people need more regular meetings with various clinicians, more intensive monitoring, and frequent consultations.
However, the recent investments made by CVS, Amazon, and Walmart show that t=in-home care is probably going to continue. If they don’t, they run the risk of losing a significant portion of their client base, including many of the young healthy individuals who are essential for keeping expenses under control.
Final Words
In recent years, we have seen a shift in the way that healthcare is being delivered to consumers. With the rise of technological advances and an increase in chronic conditions, there is a greater demand for health services that are convenient and affordable. Retail giants like CVS and Amazon are taking note of this trend and are introducing new health-focused retail strategies. These companies are making it easier for consumers to access health services and products, which could potentially revolutionize the healthcare industry.