Latest news with #PillPack
Yahoo
2 days ago
- Business
- Yahoo
Amazon Pharmacy's PillPack expands to Medicare patients
This story was originally published on Healthcare Dive. To receive daily news and insights, subscribe to our free daily Healthcare Dive newsletter. Seniors on Medicare can now use PillPack from Amazon Pharmacy, a service that pre-sorts medication packets before sending them to consumers' homes, the e-commerce giant announced Tuesday. Amazon also announced a new feature allowing customers to invite caregivers to manage medications on their behalf. The new offerings appear geared at enticing the senior population — massive consumers of healthcare who may be unfamiliar with ordering medications online — to Amazon Pharmacy, which Amazon launched in 2020 and bills as a transparent marketplace for more affordable prescription drugs. Despite some downsizing last year and reports of lackluster consumer interest, Amazon has stayed bullish in the online pharmacy space, hoping to lean into what analysts say the company does best: profiting from streamlining clunky consumer experiences and making products more affordable. The Seattle-based tech giant has hustled to build out Amazon Pharmacy: rolling out generic drug savings program RxPass and expanding it to Medicare, launching manufacturer coupons for select brand name medications and insulin and more. Now, Amazon says its new features announced Tuesday will help ensure people are filling their prescriptions and make it easier for caregivers to keep an eye on medications for their patients. PillPack, for example, sorts drugs into individual packets labeled by date and time. The service is meant for customers with two or more recurring prescriptions, who can sign up for PillPack at no additional cost. Its foray into Medicare means that the more than 50 million people in the federal insurance program's prescription drug plans who take multiple medications can now use their insurance for PillPack, Amazon said. The expansion opens a big door for Amazon — Medicare is often the great white whale for companies hoping to gain access to a massive patient population that consumes an outsized amount of healthcare services. An Amazon spokesperson did not respond to a request for more detail on the offerings by time of publication. Most Medicare members have two or more chronic conditions — at least two-thirds of enrollees, according to government data. And, the program accounts for roughly one-fifth of the nation's total health spending. Amazon is one of a rash of disruptors in the pharmacy space looking to entice clients fed up with rising drug prices and opaque pharmaceutical supply chains. The companies, many of which are growing quickly, have been making life difficult for legacy drugstore chains like CVS, Walgreens and Rite Aid (the latter of which is currently undergoing its second bankruptcy, citing — among other factors — increasing competition). Along with pharmacy, Amazon is also focusing on care delivery. Despite some high-profile crash-and-burns of past offerings, including hybrid care provider Amazon Care and cost-lowering venture Haven, Amazon has built out online marketplaces for telehealth and chronic condition management, and acquired medical chain One Medical in 2022. Recommended Reading Amazon folds telehealth marketplace into One Medical Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Geek Wire
3 days ago
- Business
- Geek Wire
Amazon Pharmacy updates include new caregiver feature and Medicare access for PillPack service
PillPack from Amazon Pharmacy is a service that features pre-sorted and personalized medication packets for customers. (Amazon Photo) Amazon Pharmacy is launching a new caregiver support feature and expanding access to customers on Medicare as part of enhancements to the tech giant's medication supply service, the company announced Tuesday. The caregiver feature allows customers to invite trusted, verified individuals who can manage medications on behalf of loved ones through their own Amazon Pharmacy accounts. To set up the feature, customers can log into their account and send an invitation to their caregiver, who receives a secure link via text message. After confirming a few details like the customer's date of birth, the caregiver can start managing medications through their own Amazon account. The second update now allows customers with Medicare insurance to access PillPack from Amazon Pharmacy. The service is designed to make it easier to manage multiple medications with pre-sorted and personally labeled packets organized by date and time. Amazon said the expansion makes more than 50 million Medicare Part D beneficiaries who manage multiple daily medications eligible for PillPack. To enroll, customers can log into their Amazon Pharmacy account sign up for PillPack, select eligible medications, and review insurance and delivery details. Amazon coordinates refill schedules so multiple medications can all be delivered at the same time each month. There is no additional charge for Amazon Pharmacy customers to use the PillPack service. Amazon launched the Amazon Pharmacy service in November 2020, following its $753 million acquisition of prescription-by-mail company PillPack in 2018. The full-service, online drugstore serves both one-off and ongoing medication needs. Amazon Prime members in a dozen cities, such as Seattle, Los Angeles and New York City, are eligible for free same-day delivery of their medications. Related:
Forbes
3 days ago
- Business
- Forbes
Amazon, A Small Pharmacy Player, Seeks To Dent CVS And Walgreens Medicare Share
Amazon Pharmacy is rolling out new features in hopes of attracting more seniors covered by Medicare's drug benefit, a potentially lucrative market dominated by CVS Health and Walgreens. In an announcement Tuesday, Amazon said it is launching a new 'caregiver support feature' that allows its customers to have someone else manage medications on their behalf. Once the caregivers are verified through a secure invitation, 'caregivers can now manage medications for their loved ones,' the company said. In addition, customers with Medicare Part D drug coverage can now access PillPack, Amazon's online pharmacy that is designed to simplify medication management, particularly for multiple prescriptions via pre-sorted and labeled packets delivered directly to patients' doors. It's the latest effort by the online retail giant Amazon to invest in its pharmacy business, which Drug Channels Institute estimates generated 'less than $2 billion in 2024 revenue - just 0.3% of the total prescription dispensing market.' Amazon doesn't disclose how many prescriptions it fills or financial information regarding its pharmacy and healthcare businesses. Amazon, which purchased PillPack seven years ago this month for more than $750 million, has yet to disclose revenues for its Amazon Pharmacy business in the parent company's quarterly earnings statements. In contrast, CVS filled 435 million prescriptions in the first quarter for an increase of 4.3% from the year ago period while Walgreens filled more than 309 million prescription in its most recent quarter, up 3.4%. Combined, Walgreens and CVS generated more than $370 billion in prescription revenues last year, According to Dryg Channels. CVS and Walgreens have the largest share of the U.S. prescription market by most measures at a combined 40% while Amazon's share is less than 1%, according to some studies. Neither CVS nor Walgreens would disclose how many Medicare Part D prescriptions the companies fill. By adding features for seniors, Amazon Pharmacy is looking to tap a Medicare prescription market growing by thousands every day. More than 11,000 Americans are turning 65 every day. Amazon is also trying to find a niche with Americans who are caring for an elderly family member. More than 50 million people in the U.S. 'are taking care of an aging family member,' Amazon said citing data from AARP. The aging population, coupled by industry statistics showing up to one-third of Americans don't take their medications as directed or never fill them. 'These updates deliver what our customers have been asking for—simpler medication management for themselves and their loved ones,' Amazon Pharmacy vice president John Love said. 'Whether you're a caregiver juggling multiple prescriptions for an aging parent, or a customer who could benefit from the convenience of pre-sorted packets delivered reliably each month, we're removing barriers and making pharmacy work better for you.'
CNBC
22-05-2025
- Business
- CNBC
Founders of Amazon's PillPack launch health-care marketplace startup General Medicine
After selling online pharmacy PillPack to Amazon seven years ago, the founding team is launching a new company that aims to make the experience of getting medical care "as easy as shopping online." PillPack founders TJ Parker and Elliot Cohen on Thursday launched a new venture called General Medicine. Parker and Cohen are joined by Ashwin Muralidharan, who most recently served as the technical adviser, or "shadow," to Amazon's top health executive Neil Lindsay. General Medicine is an online health-care marketplace, where users can get connected with a provider based on specific medical needs or chat with someone about their symptoms. The platform can be used for a range of health needs, such as securing prescriptions or locating a specialist. Users can pay with cash or insurance, with most major providers accepted, the company said. General Medicine relies on a mix of its own medical groups, networks of specialists and local providers, clinics and labs to provide care. Parker and Cohen left Amazon in 2022, four years after Amazon acquired PillPack for about $750 million. General Medicine was founded in 2023, and began serving patients earlier this year before launching broadly this month. The company says it hopes to address "the terrible experience of American healthcare and create access to excellent care." It's a similar goal held by Amazon, which has sought to disrupt health-care in the U.S. over the past several years by applying its "customer obsessed" mentality and rapid delivery capabilities. It's had mixed success, sunsetting some offerings like a telehealth service and a fitness wearable. The company operates Amazon Pharmacy, which was born out of the PillPack acquisition. It also acquired primary care provider One Medical in 2022 for $3.9 billion, giving it both an online and brick-and-mortar health-care presence.
