Amazon Taps Into The Pharmacy Industry
Amazon is now allowing customers to get their prescription medication delivered to their doors with their new online pharmacy.
According to WOOD, the online giant is now giving CVS, Walgreens and Rite Aid a run for their money by taping into to their world of clients and causing their stocks to drop around 10% each.
Just when you thought there wasn't another market Amazon could tap into they find another to be highly competitive in. Hopefully this doesn't create a new kind of porch thief but at the same time, maybe it will be a way to lower the costs of prescription drugs.
There are not that many mom and pop pharmacy's around these days but they are sure to take the biggest hit while chains like CVS, Walgreens and Rite Aid will see a dip in sales but should be able to survive the competition with Amazon.
This is yet another industry that Amazon could dominate in because of the structure the company who have proven to be masters of online shopping for consumers.
At the moment Amazon will be only offering common use prescriptions and medications. They won't be selling addictive prescriptions that contain opioids but depending on their success, anything will be possible down the road.
Once a consumers sets up their profile on Amazon's website, their doctors will be able to send them their prescriptions just like they would any other pharmacy.
You won't have to worry about if your insurance will be accepted because most plans are already dialed in. Here is a bonus if you are an Amazon Prime member and don't have insurance, you will now be able to order generic and brand name drugs with a discount. The discounts for Prime members will continue at Costco, CVS, Walgreens, Walmart and other stores.
This pharmacy move for Amazon has been in the works for a couple of years. They started off my purchasing online pharmacy PillPack who already had the capability of organizing medication based on time and day the will need to be taken.
The convenience this will give consumers will most likely be the dagger for locally owned pharmacy's. Only time will tell if the other pharmacy giants can withstand and compete with the powerhouse that is Amazon.