- Best Buy plans to start selling continuous glucose monitors in the next few weeks, in the tech retailer’s first foray into prescription-based medical device sales.
- The company plans to sell the Dexcom G7 CGM at launch, and is looking to expand to offer additional CGM systems from other manufacturers, according to the company.
- Customers who want to buy a CGM will be routed to virtual care platform Wheel, where clinicians will determine a patient’s eligibility and write a prescription. Pharmacy tech provider HealthDyne will receive and process prescriptions, and consumers can then purchase the CGMs on Best Buy’s website for delivery to their home.
Best Buy has been increasingly active in healthcare as it angles to solidify itself as a valuable partner for hospitals and health plans looking for ways to help consumers manage their healthcare at home. The company has sold medical devices for at-home use for a few years, but Monday’s announcement represents the Minnesota-based retailer’s first foray into devices that need physician approval.
More than 11% of Americans — some 37.3 million people — have diabetes, according to the Centers for Disease Control and Prevention. Of those, roughly 10 million people are treated with insulin and could benefit from a CGM, which measure users’ blood glucose levels in real time and have been shown to reduce the risk of hypo- or hyperglycemia.
However, cost is a major barrier to CGM access, according to the American Diabetes Association. CGMs can be expensive, costing up to several thousand dollars a year. Dexcom G7 sensors retail for around $450 for a 30-day supply, according to GoodRx.
At Best Buy, the Dexcom G7 will cost $179.99 for a 30-day supply. Best Buy is not currently accepting insurance, and the retailer did not say whether it plans to do so.
The Best Buy offering’s value add for consumers is a simplified prescribing experience through Wheel, and the convenience of the CGM being delivered to patients’ homes, according to the company. In addition, one prescription offers monthly refills for a year.
Dexcom G7s are also currently available for $180 or less without insurance with a GoodRx coupon. CGMs are more affordable with insurance — for example, the Dexcom G7 costs roughly $35 with insurance if purchased at Amazon Pharmacy, which also offers home delivery.
Best Buy first stepped into healthcare in 2018 when it acquired emergency response provider GreatCall for $800 million. In 2019, Best Buy purchased remote monitoring company Critical Signal Technologies, and late last year, the tech retailer also invested in a logistics platform that coordinates in-home care.
Best Buy has also inked partnerships with two major health systems this year to co-develop at-home condition management programs.