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Best Buy, a renowned retail giant, is carving out its niche in the healthcare industry. Recognizing the growing need for remote healthcare during the pandemic, Best Buy has proactively provided technology-driven healthcare solutions for older adults and people with disabilities. This strategic pivot into healthcare diversifies its business model. It positions the company as a key player in the rapidly developing home-based care and telemedicine landscape.
Strategic Partnerships
The company’s partnership with Atrium Health, a North Carolina-based healthcare system, showcases its commitment to delivering comprehensive home-based senior care. This alliance aims to use tech-enabled human interaction to provide patients with the comfort of receiving care in their homes.
Besides this, Best Buy’s acquisition of Current Health, a platform specializing in home care and remote patient monitoring, further strengthens its ability to deliver quality healthcare services remotely.
Reducing Hospital Traffic, Improving Care
By bringing more healthcare services into homes, Best Buy aims to reduce the number of patients in hospitals and other health facilities. This helps ease the burden on the healthcare system and improves individuals’ care at home and in hospitals. The company also strives to reduce the costs of in-person healthcare visits, providing cost-effective solutions tailored to each patient’s unique needs.
Leveraging Existing Expertise
Best Buy is no stranger to providing in-home services. With its Geek Squad, the company has extensive experience in educating consumers and installing and repairing electronics across the country. This existing infrastructure will help to deliver health-related services and technology to patients’ homes. With its tech-enabled home care solutions, Best Buy is poised to revolutionize how people receive healthcare today.
Bridging the Gap
Best Buy’s new partnerships and acquisitions are part of a broader strategy to bridge the gap between payers, health systems, and consumers. The tech company and retailer aim to enhance patient outcomes by integrating these sectors and simplifying the delivery of healthcare services. The company’s forward-thinking approach is already making waves in the healthcare industry, and its success could be a model for innovating in healthcare.
Best Buy Health represents a transformative approach to home-based healthcare. With its strategic use of technology and purposeful partnerships, it’s set to redefine healthcare delivery. As we navigate the ‘new normal’ in a post-pandemic world, initiatives like Best Buy Health are leading the charge in creating a more accessible, efficient, and patient-centric healthcare system.
