Amazon has announced recently that it would enter the pharmacy business by Amazon Pharmacy. This new opportunity offers people of the country to order prescription medications from home. For those who have Amazon Prime, delivery is free.
The new offering of Amazon is a very important step forward in the industry, especially considering the situation that the world faces today. Because of the Covid-19 pandemic, many people are not able to leave their homes and something like this would be very helpful for them.
Amazon is an American multinational tech company, that has always been very active when it comes to innovations. The representatives of Amazon have long talked about the pharmacy, and finally, as of now, the company is offering people the ability to buy prescription drugs without having to leave their homes.
As of now, Amazon prime offers people worldwide access to fast delivery and services like no other. The new mobile and online prescription medication ordering services, Amazon Pharmacy, is a huge step forward for the platform. Thanks to this new offering, people can now add their insurance information, manage prescriptions, and choose payment options, and do all of this through Amazon services.
In addition to this, people are also able to use self-service help tools with the Amazon portal. In addition to this, they will also be able to speak to pharmacists over the phone for advice. The services will be available 24/7, and people will be able to get the help and information that they need easier.
Quickly after the announcement was made by the company, some of the best Stock Brokers around the world have reported that the prices of the shares of the company increased, while the prices of the shares of leading pharmaceutical companies have dropped.
Biggest push into the healthcare business
Amazon has always shown interest in this market, however, the new step that the company has taken is very different from anything else that it has done before. In 2019, Amazon launched its own line of over-the-counter drugs, however, compared to that, the new step that the company has taken is the biggest one forward in this industry. This could give the company a lot of opportunities, especially considering the current Covid-19 situation around the world.
However, this news is more than just an expansion for Amazon. This is a huge step forward for the whole industry. For many, shopping for groceries and medications are very close to each other, and now that Amazon offers this opportunity as well, many people will be able to do everything in one place.
As of today, more than ever before, the look of Amazon is more complete. Although Amazon Pharmacy is only available in the USA for now, the company has plans to make it available globally. However, this could be a huge challenge because the pharmacy market is very different in countries around the world.
Online pharmacies are very popular in many countries, and their popularity has increased even more with Coronavirus pandemic. Experts are claiming that by 2025, the revenue for online pharmacies is projected to increase to as much as $131 billion.
In addition to the Pharmacy, the company is also planning to release several new services. Special features for Prime users of Amazon will be available as well, which includes receiving unlimited, free two-day delivery on Amazon orders. Also, if you do not have insurance and you are paying on your own, Amazon will give you the ability to save on medications while buying it with Amazon Pharmacy.
The same discount could be used with 50,000 other participating pharmacies in the US. The savings made with the help of the offering of Amazon can be used by members to save up to 80% off generic and 40% off brand name medications while paying without insurance.
Prime members of Amazon will also be able to access their prescription savings while checking out. They will also be able to compare the prices of medications with their insurance co-pay, without insurance, or with the savings that are available through the Prime prescription savings plan. This will give customers the chance to decide which option works better for them.
Customers of Amazon who are older than 18 years old will be able to access the pharmacy service in 45 states of the country. Only those from Hawaii, Illinois, Kentucky, Louisiana, and Minnesota will not be able to use this service.
Amazon representatives noted that they are hoping to serve those states as well in the future. A great thing is that doctors are also able to directly send prescriptions to Amazon Pharmacy, and patients can also request a transfer from an existing retailer. Amazon representatives have said that they have special tools to make sure that the doctors legitimately ordered each prescription and there are no frauds.