- Walgreens expanding scope of retail pharmacy experience and services heading into fiscal 2014
- CNNMoney sits down with Walgreens chief to discuss future of health care and what it means for pharmacy
- On the heels of Q3, Walgreens outlines shift in front-end strategy and pharmacy tailwinds looking forward
- Walgreens Infusion Services can save $10.8 million in healthcare costs annually
- Senate passes Drug Quality and Security Act
PALO ALTO, Calif. — Theranos and Walgreens on Monday announced a long-term partnership to bring access to Theranos’ new lab testing service through Walgreens pharmacies nationwide. As the service becomes available through Theranos Wellness Centers inside Walgreens stores, consumers will be able to access less invasive and more affordable clinician-directed lab testing.
“Theranos’ service offers affordable certified lab testing with quicker response times, and furthers our mission to provide a differentiated patient experience,” stated Kermit Crawford, Walgreens president of pharmacy, health and wellness. “This is the next step in Walgreens' efforts to transform community pharmacy, giving our patients and customers convenient access to the comprehensive care they need, right in their communities.”
Theranos and Walgreens are taking the first step in making this service available to consumers with the first Theranos Wellness Center location opening this month at Walgreens drug store at 300 University Ave. in Palo Alto, Calif., in the heart of Silicon Valley. The companies plan to offer the service at Walgreens locations nationwide.
The samples are either taken from a tiny finger stick or a micro-sample taken from traditional methods, eliminating the need for larger needles and numerous vials of blood required for most diagnostic lab testing.
For the first time, Theranos is introducing CLIA-certified laboratory services with the ability to run its tests on micro-samples. Theranos’ proprietary laboratory infrastructure minimizes human error through extensive automation to produce high quality results. Test results are available to physicians in a matter of hours, enabling fast diagnoses to help informed treatment choices. Theranos tests are low cost — always 50% of Medicare reimbursement rates or less — and are reimbursed by major insurance carriers, Medicare and Medicaid. Developed to be accessible to everyone, Theranos tests cost the same amount for everyone, regardless of insurance plan or whether they are uninsured.
“For the past 10 years, Theranos has worked relentlessly to reach a point at which we could help make actionable information accessible to physicians and patients at the time it matters most. Clinicians can now see their patients having received lab results from fresh samples in a matter of hours,” stated Elizabeth Holmes, chairman, CEO Theranos. “This partnership will further our goal to bring high quality, affordable lab testing to people everywhere, with our new Wellness Centers in Walgreens retail locations closest to homes and workplaces.”
Like this story? Find us on Facebook for more insight, analysis and the latest in drug store news. Join the conversation.