Amazon has announced the launch of a new healthcare service for Prime members, offering flat-rate internet-based consultations for anti-aging treatments, motion sickness prevention, eyelash growth, and solutions for male hair loss and erectile dysfunction (ED). This move caused stocks of telehealth companies like Hims & Hers to drop, with a notable intraday decline exceeding 18%.
Amazon's new service aims to save patients time otherwise spent on scheduling and waiting for appointments. The service provides access to 24/7 confidential clinical consultations without the risk of receiving exorbitant hospital bills. For necessary medications, Amazon offers its Prime Rx service, which includes logistics and pharmacy discounts.
This healthcare initiative comes after Amazon's $3.9 billion acquisition of the internet medical platform One Medical in 2022. Known services on this platform include a $49 fee for video consultations addressing common conditions such as conjunctivitis and sinus infections. Amazon's previous healthcare ventures include the now-defunct Amazon Care telehealth service, an online pharmacy launched in 2020, and the development of various medical devices and services.
Recently, Amazon discontinued a project aimed at developing at-home fertility tracking devices, with some staff members facing layoffs.
The primary competitive edge for internet healthcare services like Amazon's remains pricing. While traditional hospital visits are irreplaceable, online services can be a cost-effective alternative for some conditions, despite the limitations of remote consultations. For example, Amazon offers anti-aging skincare treatments for $10 per month, male hair growth subscriptions for $19 monthly, and eyelash consultations for $43 monthly. Motion sickness prevention is priced at $2 per session, with other services available on a per-use basis.
Consumers only need to pay the subscription fee, Prime membership, and any potential medication costs, alleviating concerns over unexpected bills. Amazon highlights that it can significantly reduce medication costs, offering a 90-day treatment for ED at $26.6, a 92% saving compared to other popular subscription services.
Integrated with Amazon's pharmacy and logistics services, prescription medications can be delivered within hours, with an emphasis on patient privacy.
