Would Volkswagen, Walmart or Best Buy Provide Primary Care?

In October 2021, Best Buy announced it acquired a UK-based remote care service. And that the company will keep on focusing on health services with a keen interest in serving senior citizens. Only a few days later, fitness company CrossFit declared it will launch a fully digital primary care service in an attempt to provide an “individualised approach to health.”  Tobacco company Philip Morris showed similar interest this summer by buying health firm Ventura claiming they are getting ready to create a “smoke-free future.”  Have all these companies lost their minds?! Suddenly everyone who produces technology or has empty retail space wants to get into healthcare. It’s obvious retailers and other industries don’t want to miss out on this lucrative segment of the economy. But will we be better off with or without them in medicine?Let’ find out. Healthcare is indeed a money-making business. The global health industry was worth $8.45 trillion in 2018. Global healthcare spending could reach over $10 trillion by 2022. So it is clearly big business. But the thing is – it’s not a business.  Doing healthcare “right” is a complex and challenging task similar to taking off to the sunset on a galloping blind horse through a minefield. Due to regulations, the principles of evidence-based medicine and the huge responsibilities that come with developing healthcare solutions, it is so much more difficult than anyone would previously imagine. A...
Source: The Medical Futurist - Category: Information Technology Authors: Tags: TMF Forecast Artificial Intelligence in Medicine Digital Health Research Future of Medicine Genomics Health Insurance Health Sensors & Trackers Healthcare Design Healthcare Policy Personalized Medicine Portable Medical Diagnostics Source Type: blogs