The shareholder of insurance giant Aetna and CVS Health both recently approved a merger of these two major players in U.S. healthcare. The deal is worth $69 billion.
Many industry observers see this merger at least partially as a reaction to the announcement by Amazon that it plans to get into the pharmacy business. When Amazon reaches it massive arms into any industry, other other players quake in fear. Such is the power of Amazon — a game changer for any sector it touches.
Entities like Aetna, CVS and Amazon are battling to see who can best “own” the American healthcare consumers through all phases of the medical care system, from first visit to a doctor all the way through treatment and the pills they will take afterword.
Smack dab in the middle of all this is Drew Madden, an IT Healthcare Entrepreneur who works every day to make the delivery of medical services more efficient, cost effective and streamlined.
Drew Madden started his career at the University of Iowa where he earned a degree in industrial engineering. His focus in that field was on medical systems. In 2010, he joined Nordic Consulting Partners. He served as president of that company from 2011 to 2016. Under his leadership, Nordic experienced phenomenal growth. It went from just 10 to 725 employees under Madden’s leadership. When Madden started at the company it had three clients. There were 150 when he left. Annual revenue exploded from $1 million annually to $130 million.
One of the primary focuses of Drew Madden’s work is electronic medical records. To the average person, this may sound like glorified bookkeeping. But the way medical records are handled in a central aspect of controlling how efficient medical services are distributed and handled. Literally billions of dollars can be saved in the way health care is delivered if medical record keeping can be optimized.
According to Forbes, the U.S. healthcare industry is a $3 trillion annual business. That’s an almost unimaginable amount of money. Huge swaths of it are wasted on inefficient and antiquated processes. That’s what Drew Madden works on every day. He’s seeking better ways to make healthcare less expensive and more effective.