{"id":70809,"date":"2023-10-10T01:41:59","date_gmt":"2023-10-10T05:41:59","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/best-buy-becomes-the-latest-retailer-to-enter-the-healthcare-space\/"},"modified":"2023-10-10T01:42:02","modified_gmt":"2023-10-10T05:42:02","slug":"best-buy-becomes-the-latest-retailer-to-enter-the-healthcare-space","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=70809","title":{"rendered":"Best Buy becomes the latest retailer to enter the healthcare space"},"content":{"rendered":"
\n

Best Buy Co. Inc. has become the latest retailer to enter the healthcare space with the news Monday that it will soon start offering a continuous glucose monitoring system as its first prescription-based medical device. <\/p>\n

The electronics retailer
\n BBY,
\n +2.17%<\/bg-quote>
\n said eligible customers will be able to get the Dexcom G7 CGM via BestBuy.com where they will be directed to its new platform Wellness.BestBuyHealth.com to complete the process. <\/p>\n

\n

More than 10% of the U.S. population has diabetes according to data from the Centers for Disease Control and Prevention, the company said in a statement. <\/p>\n

\u201cWith the demand for CGM growing over the past few years, using devices like Dexcom G7, means no fingersticks, real-time glucose monitoring and the ability to make smarter decisions about controlling diabetes,\u201d it said. <\/p>\n

The company will not be able to accept insurance payment at launch, although customers with HSA\/FSA\/HRA funds may be entitled to reimbursement, it added.<\/p>\n

Best Buy is the latest in a stream of retailers to unveil plans to get into healthcare. <\/p>\n

Costco Wholesale Corp.
\n COST,
\n +0.26%<\/bg-quote>
\n said in September that it will soon start offering its members access to medical care, including $29 virtual primary-care visits, through its recent deal with online marketplace Sesame. <\/p>\n

\u201cWe still have 7% of the American population who is uninsured, or have high-deductible health plans, and they prefer to pay cash for their healthcare,\u201d Natalie Schibell, vice president of product marketing at health platform Zyter, told MarketWatch\u2019s Weston Blasi. \u201cThis shift of retail health into primary care are shifting from those episodic appointments, those coughs, sneezes and the flu, now to full-blown primary care.\u201d<\/p>\n

Others include Amazon.com Inc.
\n AMZN,
\n +0.23%<\/bg-quote>,<\/span>
\n which acquired primary-care company\u00a0One Medical this year for $3.9 billion,\u00a0as part of the company\u2019s overall growing healthcare business, which also includes its online drugstore Amazon Pharmacy, and its doctor-patient communication service called Amazon Clinic.<\/p>\n

Walmart\u00a0
\n WMT,
\n -0.36%<\/bg-quote>
\n \u00a0created Walmart Health in 2019, which has set up centers inside some of the retailer\u2019s \u201cSupercenter\u201d locations that provide services such as primary care, dental care, behavioral health, labs and X-rays, audiology and telehealth. Walmart, the world\u2019s largest retailer by revenue, plans to have 75 of these centers running by the\u00a0end of 2024. And it is also exploring buying a stake in primary-care chain ChenMed, according to\u00a0Reuters.<\/p>\n

CVS\u00a0
\n CVS,
\n +1.93%<\/bg-quote>
\n \u00a0has also been trying to expand its retail locations into a more robust healthcare company ever since it acquired health insurer Aetna in 2018 and home-health provider\u00a0Signify Health for $8 billion\u00a0in 2023.\u00a0Signify Health\u00a0works with doctors, nurses and physicians assistants to facilitate house calls, among other services.<\/p>\n

For more, read: <\/strong>Costco to offer members medical-care access. Here are the retailers moving into healthcare.<\/p>\n

Best Buy stock rose 1.6% Monday and is down 13% in the year to date, while the S&P 500
\n SPX,
\n +0.63%<\/bg-quote>
\n has gained 12%. <\/p>\n

Additional reporting by Weston Blasi<\/em><\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Best Buy Co. Inc. has become the latest retailer to enter the healthcare space with the news Monday that it will soon start offering a continuous glucose monitoring system as its first prescription-based medical device. The electronics retailer BBY, +2.17% said eligible customers will be able to get the Dexcom G7 CGM via BestBuy.com where […]<\/p>\n","protected":false},"author":1,"featured_media":70810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-70809","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBest Buy becomes the latest retailer to enter the healthcare space | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Best Buy Co. 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