Future Now
The IFTF Blog
Walgreens is on the job
With apologies for not reporting this news item when it happened a couple of weeks ago . . . Drugstore chain Walgreen is moving into the workplace to provide on-site health care for employers. On March 17th, the company announced that it would purchase I-trax for about $260 million and Whole Health Management for an undisclosed amount.
According to its website, I-Trax is an integrated health and productivity management company that promotes "Healthy Working, Healthy Living." It "provide[s] workplace-based healthcare that improves overall health while reducing the cost of care. . . . [It] help[s] individuals stay healthy, stay at work, and contribute to company performance."
According to its mission,
Whole Health "know[s] that a healthy, happy work force and a healthy bottom line go hand-in-hand." It points out that direct, out-of-pocket expenditures are "the tip of the iceberg and represent only 26% of the total health care costs, fully 74% of the costs are indirect and 'lie below the water line.' (Source:Integrated Benefits Institute)"
I-Trax and Whole Health have already provided examples of "anytime, anyplace health." The Walgreen purchase illustrates the value of that trend in the global health economy. The Wall Street Journal Health Blog further observes the potential business opportunities presented by this deal:
The deal could mean that some people will have not only a doctor down the hall from where they work, but also a whole Walgreens store. “Is there also an opportunity longer-term to have Walgreens outposts in some of these corporate facilities?” an analyst asked on a conference call yesterday, according to a transcript from Thomson Financial. “Yes,” CEO Jeff Rein answered. “It’s not just on the medical side of course, but it is on the pharmacy side. It could be on the OTC side. There could be other opportunities, particularly when people are so rushed for time.”
Whether it is about convenience or productivity or cost reduction, anytime, anyplace health is here to stay.