Alexa: What can we expect from Amazon in healthcare? That was the title of my keynote address at last week’s Massachusetts/Rhode Island Healthcare Financial Management Association (HFMA) managed care conference.
My basic message was that while other tech companies have stumbled in healthcare or at best made a bunch of money without really impacting the overall system, Amazon has the potential to do a lot more. It is still unlikely to transform the system, but it has the best shot.
In particular, Amazon has the potential to help shift healthcare to the home, and to surround patients with the full complement of lifestyle products and services to address social determinants of health and wellness. Amazon Prime, Echo, Dash and Key give Amazon unparalleled access to the home and make the company the default for any purchase.
Amazon Web Services is also a strategic asset as healthcare moves to the cloud; new devices like the Echo Look (introduced as a fashion assistant) have real potential in healthcare, too.
The company’s very long term outlook (which I illustrated with a reference to Jeff Bezos’ 10,000 year clock) and the fact that everyone is willing to provide Amazon with free advice, are also differentiators.
I shared my perspective on the Amazon/Berkshire Hathaway/JP Morgan cooperative venture as well, leaning on the thoughts I posted in Amazon: Force the healthcare system to become patient-centric.
If you’re looking for a conference speaker to hold forth on Amazon’s potential in healthcare –or another health business topic– please feel free to contact me.
Photo credit: HFMAJune 4, 2018