Ask the Expert: Michael Wolf of Walgreens 1/13/2016
ECRM and Michael Wolf of Walgreens took a look at some of the emerging challenges that the home health care industry faces.
As a divisional merchandise manager of Advanced Care in Health & Wellness Retail Products at Walgreens, I strive to determine which products best serve the needs of our customers. I then work alongside my team and multiple supplier partners to bring those items to market at a reliable value for our shoppers.
How has competitive bidding changed the marketplace?
Competitive bidding introduces new challenges but also new opportunities. This brings added pressure on us to work more closely with suppliers to control costs so we can continue investing in innovation and stay in full compliance with government standards.
What are key challenges that companies face in the Home Health Care industry?
I think the industry can do better at capturing and properly addressing caregiver needs. This population is difficult to target and speak to, however, the first mover who gets this right will have the advantage.
Where do you see opportunity for suppliers to innovate their products and services?
There is more opportunity than ever for selling durable medical equipment direct to consumers who can benefit most. This opens up unlimited possibilities in several segments, and I encourage suppliers to find the white space here and partner with retail to bring new ideas to market.
Where do you see the industry headed and how are you planning for it?
The age wave, alongside the growing number of caregivers in the marketplace, has us concentrated on winning the shopper over age 50. We are working with a variety of partners to capitalize on this opportunity, with the ultimate goal of championing our customers’ right to be happy & healthy.