Medical Service Business News

More
Medical Service
Doubts Raised Over Benefits of Supplements
The American Heart Association gathered in Chicago on 11/17/18 to discuss studies trying to discern the effectiveness of popular supplements. The 2 studies discussed by the conference came to opposite conclusions about preventing heart disease.  10% of American adults take fish oil as a supplement to promote heart health and lower cancer risks. However, one recent study has shown that fish oil and vitamin D, another popular health supplement, have little or no impact for healthy people when taken at the dosage found in health supplements. While another study purified prescription levels of fish oil had impacts on heart issues for patients suffering from high triglycerides. While this is a promising treatment option for many patients, it is still believed that many consumers taking over the counter supplements as a means of promoting general good health fish oil is shown to have no results. This shows that there is still a long way to go to ensure that customers are making educated choices when purchasing over the counter supplements.   Source: https://www.nbcchicago.com/news/health/Effectiveness-of-Fish-Oil-Vitamin-D-500214142.html; https://www.vox.com/2018/11/19/18097613/benefits-fish-oil-supplements  
Medical Service
Insurance Companies Offer Discounts For Tracking Fitness
As technology is becoming increasing a part of everyday life it is also becoming a key part of how people stay fit. Life insurance companies are looking to utilize these devices. John Hancock, a subsidiary of Manualife Financial Corp, is rolling out a program to reward customers who develop healthy lifestyles. Customers can choose to opt into the program and earn points for tracking fitness activities such as daily jog or meditation redeem points for purchases on Amazon or other online retailers. In some cases, rewards can even be discounts on premiums. The program has several benefits for insurance providers. Firstly, exercising regularly means life insurance customers will live longer and delay the insurers pay out. Secondly, customers who are interested in joining the fitness program are likely to already be living healthy lifestyles and are lower risks for insurers. However, the creators of fitness programs like the one used by John Hancock are careful to ensure that there are no penalties for choosing not to participate in the program. Another benefit of the program is it allows insurers to engage with customers more with greater frequency. Finally, life insurers are looking for ways to locate new customers. The number of people purchasing life insurance policies have fallen for years. People who do purchase life insurance are buying online and not engaging with insurance agents. This reduces a customer’s loyalty to an insurer rather than building long-term relationships. While there are many benefits to insurers and customers alike, it should be noted that some observers are still skeptical. Privacy forums are wary of insurers learning too much about their customers. Guidelines for how companies can use their customers fitness information are on the way. While the collection of data is not inherently bad, insurance is a traditionally conservative industry and has successfully managed handling sensitive data in the past. Only time will tell if customers and insurers want to stick with the program.   Source:https://www.bloomberg.com/asia
Medical Service
Walgreens Introduces Stores Without Pharmecies
Founded in 1901 on Chicago’s South Side, Walgreens is one of the most ubiquitous pharmacies in the US. The store found success by luring customers out in the cold Chicago winters with hot prepared food as well as the ability to fill their prescriptions, a practice which continued in Walgreens locations across the country until the 1980s. Over the years Walgreens has continued to innovate expand their offerings to create one stop shopping, introducing the first malted milkshakes in the 1920s. However, at the foundation of all Walgreens stores there has always been one thing – a pharmacy – until now. Walgreens has opened its first store in Chicago’s West Loop directing customers looking to fulfil prescriptions can go to a nearby location. Although the prescription sales account for nearly 70% of Walgreens US sales, moving a way from prescriptions in stores seem to be a trend coming to the pharmacy industry. Traditional brick-and-mortar pharmacies like Walgreens are facing increasing competitions from online retailers like Amazon. Customers are turning to online ordering for convenience and affordability as public and private insurers are reducing payments for prescriptions. Walgreens are reacting to these challenges by increasing investment in online and mail order pharmacy services. While pharmacies move online Walgreens over 10,000 US stores are emphasizing cosmetics and skin care products. The new West Loop store sells all products that are provided by Walgreens, make up, toiletries, alcohol and food, as well as photo and Western Union services. Everything a customer looking for a quick grab and go experience expects to find at Walgreens, except a pharmacy. This looks to be the latest change in Walgreen’s century long reign as “America’s Corner Store” and allows Walgreens to simplify its business while continuing to serve customers.   Source:https://chicago.suntimes.com/
Medical Service
Dutch Pharmaceuticals Firm Moves Into Chicago
Xellia Pharmaceuticals, a Dutch firm, has chosen Chicago for a new US office. The office located in Buffalo Grove will open with 40 employees and the location was chosen with the potential to expand the office’s workforce, Xellia employees over 1,500 people around the world. While the company already has a US North American headquarters in Raleigh, North Carolina, the creation of a new commercial office in the US is not a surprise as the US accounted for 60% of Xellia’s sales last year a 23% increase over the previous year. The new Buffalo Grove location is meant to facilitate Xellia’s expansion in North America and will include a new sales force to generate further growth. Xellia is hoping to create a pipeline into US hospital markets and expects this new office to play a crucial role in marketing their new products within the US. Founded in 1959 the company manufactures anti-infective products for treating infections and has increased manufacturing and sterile injectable capabilities.   Source :The Business Journals https://www.bizjournals.com/
Medical Service
Thailand Bangkok Dusit Medical Service (BDMS), Ping An Good Doctor announce strategic cooperation, new medical solution for Chinese patients
Thailand Bangkok Dusit Medical Service (BDMS), the largest healthcare network in Thailand, on Tuesday signed a memorandum of understanding with China’s leading one-stop medical service eco-platform, Ping An Good Doctor (PAGD). Under the MoU, the two medical-service giants will exchange their experienced medical resources and world-class brand offerings, introducing a fast track for Chinese patients through building a comprehensive medical service system. Established in 1969, BDMS is the largest medical group in Thailand and one of the most prestigious hospital networks in the Asia-Pacific.  The company owns 46 hospitals located in major cities and scenic locations in Thailand and Cambodia, serving Thai patients and foreign patients from the US, Europe, China, Japan, South Korea, the United Arab Emirates, and elsewhere.  Seventeen hospitals in the BDMS network have been awarded JCI (Joint Commission International) certificates.  Over 10,000 qualified doctors and 8,000 nurses work for BDMS’s professional teams, and many of them are experts in the group’s Centres of Excellence, which specialise in cancer, heart disease, brain disease, trauma and orthopaedics. The cooperation between BDMS and Ping An Good Doctor represents crucial progress in providing overseas medical services and reflects the advancement of the partners’ pace in globalisation, they said.  It also helps PAGD to find all possible solutions of Internet healthcare, improves the international service network, and establishes a global medical eco-system with partners.  At the same time, PAGD will assist BDMS to deeply engage in the China market by using its huge traffic and rich resources – and as a result, brand trust and equity will rise. The alliance means Chinese patients can benefit from accurate information to choose a rational medical plan by using PAGD.  More significantly, PAGD said, the cooperation offers opportunities for Chinese patients and introduces premium medical tourism to middle-income patients. Thus, the cooperation will bring about overseas advanced medical technology to true “no border” resources.  As of June, PAGD was China’s top mobile medical app in terms of penetration rate. It had reached 228 million registered users, and 48.6 million medical assessment units.   Source:https://www.thenation.com/