Drug Fix

11/15/2013 - 4:21pm

CVS Caremark has announced the appointment of William Shrank as chief scientific officer and chief medical officer, provider innovation and analytics. In this role, Shrank will oversee the company’s overall research and clinical program development.

Why is this so important? Well, he’s a physician having previously practiced with Brigham Internal Medicine Associates. He also served as assistant professor at Harvard Medical School and served as director, research and rapid-cycle evaluation for the Center for Medicare & Medicaid Innovation at the Centers for Medicare & Medicaid Services. And what’s especially interesting to note — as highlighted by CVS Caremark — is that Shrank is “experienced in pharmaceutical outcomes research.”

11/15/2013 - 3:34pm

Following a successful test run last summer, Target has announced the expansion of its Beauty Concierge program to nearly 100 stores in three metro areas across the country — making the program now available in nearly 300 Target locations nationwide.

Why is this important? Customers want an experience when shopping. And getting customers more engaged in product and experience with "brand-agnostic experts" is a safe bet.

11/08/2013 - 3:55pm

A proposed rule from the Food and Drug Administration would effectively eliminate artificial trans fats from foods in the United States by classifying partially hydrogenated oils as unsafe food additives and thus permitting them only in certain cases.

In its proposal, the FDA emphasized that it would give manufacturers of foods that contain trans fats enough time to reformulate their recipes in order to minimize market disruptions by spreading out the initial cost of about $8 billion over a number of years. While trans fats have been eliminated from most foods already, foods that still contain them include frozen pizzas, microwave popcorn, margarines and some dessert foods.

11/08/2013 - 2:57pm

The Senate this past week heard legislation that would reverse the provision of the Patient Protection and Affordable Care Act mandating a prescription on the sale of an over-the-counter medicine being paid for through a flexible spending account. All those in the retail pharmacy industry are staunch supporters of the legislation.

And that's because retail pharmacy gets it. It's not about the sales — has anyone ever heard of a consumer who decided not to purchase a pain reliever or cough syrup because it wasn't an eligible FSA purchase without a trip to their doctor? No. That person doesn't exist — they'll buy the same amount of OTCs to cure what's ailing them with an FSA as without an FSA. No, it's about the value inherent within OTCs. It's about tapping into that value to the benefit of both consumers and overall health care.

11/08/2013 - 2:28pm

In a new study, which was published in the November issue of Health Affairs, researchers looked at retail clinics and found that eliminating restrictions on nurse practitioners’ scope of practice could lead to lower healthcare costs.

Again, 2014 will be the year for clinics. Why? Because this is where the rubber meets the road and clinics are an important solution in healthcare reform.

11/01/2013 - 3:42pm

Kroger’s Little Clinic is on a growth path. The company is looking to open as many as 50 new retail-based health clinics next year, according to published reports, as part of a clear health care play the retailer is making in the midst of healthcare reform.

We’ve said it before and we’re saying it again: 2014 will be the year of the retail clinic. Kroger currently has about 106 clinic locations and, by the end of 2013, the company looks to have nearly 120 clinics across six states. Next year, as many as 50 additional clinics will open their doors, according to reports.

11/01/2013 - 3:31pm

A new study by IMS Health finds that most apps focused on health and wellness have limited functionality or evidence of value in advancing healthcare provision and outcomes, with fewer than half of them directly related to patient health and treatment, and more than half of them having fewer than 500 downloads.

With more than 43,000 health-and-wellness apps from the Apple App Store alone included in the IMS study, but a dearth of apps for elderly patients with chronic conditions, there is ample opportunity for developers to address this need. That will become especially important as health care becomes increasingly focused on patient outcomes. And this means opportunities for apps that address the ever-present issue of poor medication adherence.

11/01/2013 - 2:38pm

A recent survey, dubbed the “Retail Buying Experience,” by Experticity has revealed an expertise gap among sales associates at retail. The survey also found that consumers value expertise above all else, but 2-out-of-5 consumers said they are routinely disappointed by the lack of expertise they encounter in the stores.

The survey findings really point to one word: personalization. Like the survey says, consumers want help with their buying decisions, and they want the retailers to be an active player in their shopping experience. They want retail sales associates who have product knowledge, can help in selecting the right products, have category knowledge and can assist in finding alternatives when the first choice is not available. They want personalization.

10/25/2013 - 3:32pm

CVS/pharmacy’s SVP and chief marketing officer Rob Price was recently featured on Yahoo! Finance’s Big Data Download to talk about the launch of its new myWeekly Ad, which is a digital circular powered by its ExtraCare loyalty program.

This is important as it demonstrates that CVS/pharmacy continues to get major attention for the new program, and it further illustrates the push — major push — that the retailer is making on personalization.

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