SIGforum.com    Main Page  Hop To Forum Categories  The Lounge    Amazon sends medical stocks plummeting on report of new health care effort

Moderators: Chris Orndorff, LDD
Go
New
Find
Notify
Tools
Reply
  
Amazon sends medical stocks plummeting on report of new health care effort Login/Join 
Mired in the
Fog of Lucidity
posted
Right, wrong or otherwise, Amazon is revolutionizing markets. I'm not sure how I feel about it's growth in total, but bringing down healthcare costs would certainly be a good thing. Hardly a day goes by without Amazon making news.



Amazon (AMZN) is focusing on becoming a major supplier of medical equipment to both hospital systems and outpatient health care clinics, the Wall Street Journal reported Opens a New Window. on Tuesday.

The e-commerce behemoth has already obtained wholesale distribution licenses in several states, which many initially viewed as a foray into pharmaceutical sales, but would also be necessary to sell medical equipment.

Amazon already sells some medical supplies, like EKG monitors and wearable pain relief technology, on its Amazon Business marketplace. The Journal reports that the company could move into more specialized equipment, such as hip implants. As previously reported by FOX Business, Amazon also has a massive customer review network that could eventually inform customers’ decisions on medical equipment.

Shares of health care distributors and medical supply companies dropped on Tuesday, following the report. In midday trading, the world’s largest supplier of dental equipment and supplies, Henry Schein (HSIC), fell nearly 10%, McKesson Corp. (MCK) dropped more than 2%, while another dental parts supplier, Cardinal Health (CAH), was down nearly 4%. Amazon shares were 1.4% higher.

Amazon has been igniting fears throughout the health care sector for months, as it is well-positioned to be a major player in the high-margin industry. At a time when the sector is shifting to a more patient-centered model, the e-commerce giant, revered for its customer service, can leverage not only its innovative technologies, but also its massive delivery network to develop innovative solutions.

Former chief customer experience officer at CIGNA (CI) Ingrid Lindberg told FOX Business last month that Amazon had enough buying power to “shut down a hospital system,” and had the potential to transform the industry to a “full co-op model.” Amazon can also disrupt supply chains, which could have a number of effects on everything from health plans to drug prices.

Last month, Amazon, JPMorgan (JPM) and Berkshire Hathaway (BRKA) announced a joint health care venture aimed at offering lower cost health care options for their employees. While details remain scant, experts told FOX Business the trio could revolutionize the industry by operating as a benefit corporation, thereby changing the incentive structure to focus less on profits and more on patients.



http://www.foxbusiness.com/mar...lth-care-effort.html
 
Posts: 4170 | Registered: February 10, 2007Reply With QuoteReport This Post
stupid beyond
all belief
Picture of Deqlyn
posted Hide Post
The only thing that can stop amazon is the US govt. I want it all commoditized. everything, the cheapest best quality stuff I can get to my door in two days.



What man is a man that does not make the world better. -Balian of Ibelin

Only boring people get bored. - Ruth Burke
 
Posts: 7978 | Registered: September 13, 2012Reply With QuoteReport This Post
Member
posted Hide Post
The health care industry is fantastically bloated. Hopefully this will be the start of health care costs coming down to earth.


-c1steve
 
Posts: 2197 | Location: West coast | Registered: March 31, 2012Reply With QuoteReport This Post
Funny Man
Picture of TXJIM
posted Hide Post
I happen to know that Amazon gave a talk at the annual North America meeting of one of the big 4 international medical imaging companies today......very interesting.


______________________________
“I'd like to know why well-educated idiots keep apologizing for lazy and complaining people who think the world owes them a living.”
― John Wayne
 
Posts: 5885 | Location: Austin, TX | Registered: June 29, 2010Reply With QuoteReport This Post
Member
posted Hide Post
quote:
Originally posted by TXJIM:
I happen to know that Amazon gave a talk at the annual North America meeting of one of the big 4 international medical imaging companies today......very interesting.


Was Amazon talking about lower prices for MRI equipment? Anything about digital x-ray?


-c1steve
 
Posts: 2197 | Location: West coast | Registered: March 31, 2012Reply With QuoteReport This Post
Thank you
Very little
Picture of HRK
posted Hide Post
Amazon is a monster, have to give them credit they are changing the marketplace, as much as I dislike their politics I end up looking there to find stuff to purchase.

If anyone can upset the medical industry it's Amazon, and in the interest of taking the position that private enterprise is better suited than government run HC, Amazon is part of the right type of solution, private market.



"My rule of life prescribed as an absolutely sacred rite smoking cigars and also the drinking of alcohol before, after and if need be during all meals and in the intervals between them." Winston Churchill
 
Posts: 12129 | Location: FL | Registered: November 07, 2008Reply With QuoteReport This Post
Leatherneck
posted Hide Post
Hospitals and such getting equipment for less doesn't mean they are going to charge less. And even if they do charge less it is doubtful that my insurance company will charge me less or change my deductibles and co-pay.

I'd love to see someone (not the government) get involved and somehow cause the entire industry to be reformed but I have a feeling this won't change anything for me. Maybe if I didn't have any insurance or something but as a middle class white man I doubt they give a shit about making things better for me too.




Georgia Carry Member Calguns Foundation Member Second Amendment Foundation Member NRA Lifetime Member

Everybody wants a Sig in the sheets but a Glock on the streets. -bionic218 04-02-2014

 
Posts: 12626 | Location: Georgia | Registered: May 07, 2008Reply With QuoteReport This Post
Thank you
Very little
Picture of HRK
posted Hide Post
You have to start somewhere, and Insurance companies if they know that hospitals and doctors are getting breaks on prices for equipment, supplies etc are going to squeeze on contracts at renewal for the hospital to be enrolled in the approved vendors list.

Just can't sit around and bitch about it, maybe it will start something, we really need an Amazon pharma division, the massive money charged in that area has to be one of the biggest expenses, not everyone has surgery but almost everyone is on some kind of pill(s)



"My rule of life prescribed as an absolutely sacred rite smoking cigars and also the drinking of alcohol before, after and if need be during all meals and in the intervals between them." Winston Churchill
 
Posts: 12129 | Location: FL | Registered: November 07, 2008Reply With QuoteReport This Post
Leatherneck
posted Hide Post
quote:
Originally posted by HRK:
You have to start somewhere, and Insurance companies if they know that hospitals and doctors are getting breaks on prices for equipment, supplies etc are going to squeeze on contracts at renewal for the hospital to be enrolled in the approved vendors list.



No doubt they will fight for lower prices for them. But will they pass that savings on to the customer? I have my doubts. I'm not in the industry or anything so maybe I am wrong. Nobody hopes I am wrong more than me.




Georgia Carry Member Calguns Foundation Member Second Amendment Foundation Member NRA Lifetime Member

Everybody wants a Sig in the sheets but a Glock on the streets. -bionic218 04-02-2014

 
Posts: 12626 | Location: Georgia | Registered: May 07, 2008Reply With QuoteReport This Post
Funny Man
Picture of TXJIM
posted Hide Post
quote:
Originally posted by c1steve:
quote:
Originally posted by TXJIM:
I happen to know that Amazon gave a talk at the annual North America meeting of one of the big 4 international medical imaging companies today......very interesting.


Was Amazon talking about lower prices for MRI equipment? Anything about digital x-ray?


I wasn't at the meeting so I don't know what was covered in the talk. The host is a leading manufacturer of both MR and x-ray so I doubt they opened with lowering prices on them. I just find it interesting that Amazon executives are being brought in by a medical imaging player at this point in time to speak to their North American sales force. Read into that what you will as I have my own conjecture about what it could mean. If Amazon wanted to get into the game in a big way, quickly, a partnership or acquisition of one of the big 4 players in the imaging space makes a lot of sense.


______________________________
“I'd like to know why well-educated idiots keep apologizing for lazy and complaining people who think the world owes them a living.”
― John Wayne
 
Posts: 5885 | Location: Austin, TX | Registered: June 29, 2010Reply With QuoteReport This Post
Member
posted Hide Post
Honestly, any large silicon valley company trying to disrupt the health industry sounds like a good thing.
 
Posts: 1624 | Registered: October 24, 2007Reply With QuoteReport This Post
Political Cynic
Picture of nhtagmember
posted Hide Post
agreed



Participating in a gun buy back program because you think criminals have too many guns is like having yourself castrated because you think your neighbor has too many kids

"I'm only myself when I have a guitar in my hands." - George Harrison


 
Posts: 46802 | Location: Arizona | Registered: January 16, 2002Reply With QuoteReport This Post
Knows too little
about too much
Picture of rduckwor
posted Hide Post
Amazon, Berkshire Hathaway, and JP Morgan Chase are in this effort together. Could be good for the rest of us.

RMD




TL Davis: “The Second Amendment is special, not because it protects guns, but because its violation signals a government with the intention to oppress its people…”
 
Posts: 19259 | Location: L.A. - Lower Alabama | Registered: April 06, 2008Reply With QuoteReport This Post
Member
Picture of msfzoe
posted Hide Post
Amazon is the Death Star.
 
Posts: 1934 | Location: newyorkistan | Registered: January 06, 2008Reply With QuoteReport This Post
Member
posted Hide Post
Can amazons slave labor infrastructure work in Healthcare? WholeFoods might say otherwise.


____________________________________________________

The butcher with the sharpest knife has the warmest heart.
 
Posts: 11102 | Location: Bottom of Lake Washington | Registered: March 06, 2007Reply With QuoteReport This Post
Member
posted Hide Post
I live in Seattle and have been an Amazon watcher for 20 years or so.

Amazon is a lot like Communism in that it must expand into new areas in order to survive. It must do so since their competitors will catch up to them in any given business class.

For better or worse, expect more of this.

V.
 
Posts: 62 | Location: Pacific NW | Registered: April 09, 2011Reply With QuoteReport This Post
  Powered by Social Strata  
 

SIGforum.com    Main Page  Hop To Forum Categories  The Lounge    Amazon sends medical stocks plummeting on report of new health care effort

© SIGforum 2018