Bringing simplicity to health care
Simplicity plus connectedness equals engagement. That secret recipe is at the heart of Target’s strategy, touching and shaping every aspect of its business, including health care.
Target is working to create a simpler healthcare experience for its guests.
To learn more about how Target is leveraging its clinics, pharmacies, specialty pharmacy and front-end offerings to help consumers navigate the complex healthcare landscape, DSN recently met with several key Target executives at the retailer’s headquarters in Minneapolis in a series of interviews for DSNTV.
Bridging design, innovation, wellness
“Engagement is really what the healthcare industry overall is after,” Marc Baer, Target senior director health care told DSNTV. “Engagement means that people will work to stay healthy.”
Baer talked about how Target is leveraging its larger philosophy around design and innovation to help simplify health care for its guests. One example: Clear Rx, which “takes something as nondescript as a pill bottle and makes it easy to use and promotes medication safety,” Baer said.
Aligning clinics, pharmacy, front-end
“We know that with increasing costs across the [healthcare] system … we need to play a role in helping people address barriers to adherence,” Target associate medical director Kevin Ronneberg told DSNTV.
Ronneberg discussed Target’s strategy for aligning its in-store clinics, pharmacies and front-end products and services to help keep Target relevant to its guests, payers and providers, including the continued expansion of its clinics and MTM programs, and growing its partnerships with physician groups.
Challenging new ideas
In an effort to fuel innovation in health care, Target unveiled in September a contest to generate ideas to simplify health care and help individuals and families live healthier lives: the Target Simplicity Challenge.
The goal is to identify ideas to address two big challenges in health care: managing chronic conditions and supporting individual wellness and prevention efforts.
Submissions were accepted at TargetSimplicityChallenge.com through Oct. 24. Winners will receive $25,000 and a chance to partner with Target to bring the idea to life.
Walgreens finalizes Kerr Drug deal
DEERFIELD, Ill. — Walgreens on Friday announced that it has completed its acquisition of certain assets of Kerr Drug’s retail drug stores and specialty pharmacy business. In fiscal year 2012, Kerr Drug’s retail drugstores and specialty pharmacy business recorded total sales of $381 million.
Financial terms of the agreement were not disclosed.
As previously announced in September, the acquisition is an asset transaction and includes Kerr Drug’s retail drug stores, specialty pharmacy business and a distribution center.
Kerr Drug retained ownership of its long-term care pharmacy business.
Report: No matter which company you pick, retail pharmacy represents strong investment potential
NEW YORK — The drug store sector makes for a sound investment for investors of all stripes, according to a Motley Fool report published Thursday.
In early morning trading Friday, CVS stock traded at $63.59, up 4 cents; Walgreens at $59.16, down 4 cents; and Rite Aid at $5.17, up 4 cents.
CVS/Caremark is positioned as the safest bet with its two-tiered business strategy leveraging retail pharmacy and pharmacy benefit management.
Walgreens is a sound long-term hold because of its dividend history. Walgreens has paid out a quarterly dividend over consecutive quarters dating back some 80 years. And that dividend has increased for 38 consecutive years.
For those with "a higher risk tolerance," Rite Aid represents a strong growth story. "The company has implement[ed] a remarkable turnaround during recent quarters by controlling costs and introducing more generic drugs to boost sales," Motley Fool wrote. "This has materially increased profitability, and Rite Aid investors have benefited from an explosive gain of more than 290% in the stock price over the last 12 months."