After reading the announcement, I went right to the Kerr privacy statement and it sounds like all your data now belongs to Walgreens, so things may be up for a change here. One thing that comes to mind is saving money on flu shots is possible. The chain has 76 stores in all. Where do you not go today and see not see flu shots available it seems.
“In the event that we sell any of our stores or assets or merge with another company, customer information would likely be one of the assets transferred in such a transaction.”
I keep telling all that watch what happens with subsidiaries these days and have pretty much focused a lot on insurers but here’s a hot area to keep an eye on as well. This means more data gets combined and consolidated and recently the chain had to pay a bit in penalties due to the data and the way the algorithms work out there. I questioned though too as the drug stores pay when their algorithms have issues but why does Wall Street get to skate on so much of this?
Walgreens Accused of Overcharging Customers-Algorithms-Drug Stores Have to Pay Penalties on Their Issues, Why Does Wall Street Skate When Their Killer Algorithms Attack?
When conglomerates get big there’s all kinds of issues that arise as the data and software use grows…here’s one I blogged a short while back about software patents..
MMRGlobal (MyMedicalRecords.Com) Files Complaint In California Against Walgreen For Technology Patent Violations
I might also guess that the expansion of the medical records program they use would be up to talk with expanding it as well as the move to “get the data out there” continues. Walgreens uses a medical record system provided by Greenway Medical that just went public not too long ago.
Walgreens Expands Take Care EHR Medical Records to be Available at All Drug Store Locations for Reference–Not For Me I’d Rather Use My PHR And Choose What I Want To Share…
Implementation is key with all of this and you know sometimes I just turn the phone off when I want a break:) I determine my own levels of data that I desire and want to consume as if you don’t you can go crazy at times when life has other issues out there for you to deal with beyond software. Walgreens is also getting a distribution center out of the deal and the Kerr name will continue for a while anyway. In some areas Walgreens works with software from UnitedHealthcare too with predictive analytics and we come back to the data gain. Some pharmacists get pay for performance when signing you up with one of the United programs and the purchase of more liquor licenses helps the revenue it would appear too. Good thing they made up with Express Scripts as they bought another company yesterday that is currently sanctioned by CMS with quite a few Medicare Part D members.
United Healthcare Expanding Diabetes Prevention & Predictive Algorithm Program With Walgreens And Pay for Performance Incentives In Atlanta
This all means a lot of data and more money to come in as their intangibles are coming in at around a billion a year, aka a lot of data selling as back in 2011 they stated purchased prescription files" are intangible assets worth $749 million, so with growth this is where I think maybe they might have hit the billion dollar mark . I don’t know where this ended up (link below) but it’s difficult for the smaller drug chains to keep up and why do you think we might have this sale? A good question perhaps? Milliman and a division of United Healthcare (formerly known as Ingenix) buy all the data up and resell it.
Walgreens And CVS Accused of Selling Customer Prescription Data in 2 Separate Law Suits-Sales for Marketing Data Continues and the Data Bases Gets Larger with Technology
Again due to all these massive acquisitions and mergers out there I do believe we need to begin licensing and excise taxing data sellers as when there’s something wrong we are on our own ticket to fix it after corporate conglomerations have cashed in. This goes beyond healthcare too. This is just my opinion below on what the FTC (link below) might do as they certainly seem to be in need of a wake up call somewhere along the line here as all these massive data bases are being maximized for profit. BD
FTC Tries to Bring Strong Case for Consumer Protections With Use of Data–But Nothing About Creating IT Infrastructure Path to Allow Regulation–Gov Can’t or Won’t Model?
(AP) — Walgreen is buying Kerr Drug's 76 retail drugstores and its specialty pharmacy business, a move that will expand its presence in North Carolina.
The deal also includes a distribution center, but does not include Kerr Drug's long-term care pharmacy business.
Financial terms were not disclosed.
Kerr Drug's is a privately held regional pharmacy chain in North Carolina. Its retail drugstores and specialty pharmacy business had fiscal 2012 sales of $381 million.