Today In Healthcare: Billion-Dollar COVID-19 Booster Market, Walgreens Launches Credit Card Rewards Program

Today in healthcare: Hospitals are increasing their focus on procure-to-pay goals. Plus, COVID-19 boosters could generate billions for Pfizer and Moderna, and Walgreens incentivizes healthy living choices through a credit card rewards program.

Pfizer, Moderna Could Make Billions From COVID Boosters

Pfizer and Moderna could make billions of dollars from COVID-19 booster shots, earnings comparable to the $6 billion generated each year in flu vaccine sales, according to Reuters, which says the companies expect vaccinated people will need boosters to protect against the coronavirus and new variants. Several countries, including Chile, Germany and Israel, have begun offering boosters to older people and those with weaker immune systems as the Delta variant of the virus spreads. The U.S. Food and Drug Administration has taken similar measures, authorizing Pfizer and Moderna boosters for immune-compromised Americans.

Hospitals Redefine Their Procure-to-Pay Goals

David Gillan, Vizient’s senior vice president of emerging solutions and supplier engagement, and Bejan Shamsy, senior vice president of procure-to-pay solutions, said the healthcare industry is defining supply chain resiliency through procurement and B2B payment practices that support the needs of all parties involved. Gillan emphasized that pre-COVID-19, hospitals widely took an approach to procurement that focused on cost savings and spend management.

Walgreens To Incentivize Healthy Living Choices With New Credit Card Rewards Program

Walgreens announced on Monday (Aug. 16) the launch of a new branded credit card issued by Synchrony Bank that will reward consumers not only for purchases made at Walgreens and other merchants, but also for doctors’ appointments, gym memberships and prescriptions. David Parkes, senior vice president of co-branded products at Synchrony, told PYMNTS’ Karen Webster that the myWalgreens Mastercard was designed to reward people for healthy choices.