Amazon’s (AMZN - Free Report) increased hiring of health experts and aggressive push into the healthcare industry is likely to cause massive disruption in this space.
Reportedly, the e-commerce giant has appointed Jason Tzau, a pharmacy expert, to serve as Principal of its U.S. Healthcare Benefits initiatives.
Further, the new recruit is likely to assist Amazon in its healthcare venture with Berkshire Hathaway and JPMorgan Chase (JPM - Free Report) . Moreover, Tzau’s qualification as a doctorate in pharmacy will aid Amazon’s drive.
Rising Job Vacancies
Amazon is on a hiring spree to aid its healthcare initiatives, which is resulting in increased job vacancies.
The latest recruitment is result of Amazon’s job post in October. Per the post, the company was in need of a subject matter expert with sound knowledge of medical and pharmacy benefits, health care delivery systems, wellness and behavioral health management.
Additionally, the company listed a job vacancy for a data scientist to work at its Berkshire-JPMorgan venture. Notably, the person will be responsible for finding out the solution for cutting down the healthcare cost for Amazon employees by supporting population health initiatives,
collecting and analyzing data.
Moreover, the company recently hired Maulik Majmudar, a renowned cardiologist, for its particular healthcare team which is not yet disclosed. Further, the company has already taken primary care expert, Martin Levine and former FDA chief health information officer Taha Kass-Hout on board.
Further, Amazon has a secretive team called Grand Challenge which is working on several projects related to medical records, last mile delivery and most importantly cancer research.
Healthcare Industry Holds Promise
The company’s focus on delivering quality service at affordable cost will help it in rapidly penetrate the multi-trillion healthcare market.
Amazon’s announcement of PillPack acquisition to sell prescription medicine online remains its most significant step to date in the healthcare sector.
Further, the company is in talks with a Seattle-based start-up called Xealth to work on its project related to medical supplies along with the participation from two hospitals namely Providence Health Systems and University of Pittsburgh Medical Center.
Additionally, its latest launch of Amazon Comprehend Medical is in sync with its aim to transform the industry which is still utilizing old and time-consuming methods.
We believe growing healthcare posts and increased hiring will support Amazon in speeding up its above-mentioned strong initiatives.
Zacks Rank & Stock to Consider
Currently, Amazon.com carries a Zacks Rank #3 (Hold).
Investors interested in the retail-wholesale can consider TripAdvisor (TRIP - Free Report) which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for TripAdvisor is currently pegged at 14.05%.
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