Best Buy makes another deep dive into at-home healthcare
Best Buy continues to make inroads into the home healthcare space.
The consumer electronics giant said it will soon start selling prescription continuous glucose monitoring systems (CGMs) delivered directly to the customer’s home. It marks the first time that Best Buy will offer prescription-based medical devices.
Best Buy will sell the Dexcom G7 CGM via BestBuy.com, where customers will be directed to the retailer’s new platform, Wellness.BestBuyHealth.com, to complete the process. Best Buy is selling the monitors via a site powered by Salesforce’s Commerce Cloud platform.
Going forward, Best Buy said its goal is to soon allow customers with an existing CGM prescription from their own physician to be able to upload that prescription into their profile and have the device sent to them. It also noted it is aiming to offer more CGM system options after the initial launch.
More than 10% of the U.S. population has diabetes according to data from the Centers for Disease Control and Prevention, Best Buy said in a statement.
“With 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,” the company added.
Best Buy will not be able to accept insurance payment for the CGM systems at launch, but customers with HSA/FSA/HRA funds may be entitled to reimbursement, it added.
The retailer noted that its decision to sell the systems aligns with its goal to enable care at home for everyone by relying on partners to provide care for patients “while sticking to what we do best, providing technology and expertise that enriches and saves lives.”
In March, Best Buy announced it was teaming up with non-profit healthcare system Atrium Health to develop new offerings that provide hospital-level care directly in a consumer’s home. As part of the new partnership, specially trained Best Buy Geek Squad personnel will set up health care technology and devices in patients' homes and train the patients and caregivers in how to use the equipment.
Read more: Best Buy to acquire Current Health as it dives deeper into home health care]
Other major retailers are also making inroads into health care. In July 2022, Amazon entered into an agreement to acquire One Medical, a membership-based primary healthcare provider, for $3.9 billion, its third-biggest acquisition to date. The San Francisco-based health care startup offers a combination of in-person, digital and virtual care services, promising members “24/7 access to virtual care.”
In March, Walmart announced plans to open 28 new freestanding Walmart Health centers in 2024, giving it a total of more than 75 locations by the end of the year.
Meanwhile, CVS Health Corp. and Walgreens continue their push into health care. In February, CVS entered into a deal to acquire Oak Street Health in a deal valued at approximately $10.6 billion. The Chicago-based Oak Street operates primary care centers that service people with Medicare Advantage plans.
At the end of last year, Village MD, which is majority-owned by Walgreens, agreed to buy Summit Health-CityMD in a deal valued at approximately $8.9 billion.