Amazon building 'modern pharmacy' of the future: Medical Officer

Since 2020, Amazon (AMZN) has been making efforts to extend its online retail stronghold into the pharmacy world. The company announced that it expects same-day pharmacy delivery services to become available in up to a dozen US cities by the end of the year. Amazon Pharmacy Chief Medical Officer Dr. Vin Gupta joins Wealth! to discuss the move and what the current state of pharmacies lacks for the average consumer. "If your provider can get that prescription in before, say, 5:00, we're able to get that to your door before the end of the evening," Gupta explains. He highlights the importance of this service for consumers with acute conditions, saying, "that time to treatment is critical." The service will not have additional charges for same-day deliveries, "and that's exactly what people expect from Amazon," Gupta says. "We know that 30% of people don't pick up their refills on time, or if ever, because it's an inconvenient experience, especially if you're not feeling well," adding that he believes Amazon's new initiative will make major strides in the average consumer's health. The service will have a different sign-on and portal experience, keeping health data separate and private from users' retail profiles. Gupta explains that it will also offer several different ways to pay with or without insurance, touting a discount savings program and automatically applied manufacturer coupons. He adds that in addition to the home delivery service, a team of clinical pharmacists will be available 24/7 to answer any patient questions. "We're truly building the modern pharmacy that the future needs," he tells Brad Smith and Anjalee Khemlani. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl