Best Buy is gearing up for the holiday season with an unexpected addition to its offerings: continuous glucose monitors (CGMs). The retail giant has revealed plans to sell prescription-only CGMs through a new online platform, marking a significant expansion into the health technology sector. While the exact launch date remains undisclosed, Best Buy has confirmed that the first CGM available will be Dexcom’s G7 sensor.
Best Buy’s foray into health technology comes as part of its mission to enhance access to health management tools for the over 10% of the US population living with diabetes. The company has been rapidly diversifying its product range, encompassing everything from hearing aids to health trackers, in addition to its usual lineup of consumer electronics like TVs and computers.
Once the launch commences, prospective customers will be able to explore CGMs on Best Buy’s website. Those interested will then be directed to a newly established online platform that manages purchases. This platform is seamlessly integrated with Wheel, a virtual care provider. It assists customers in determining their eligibility to purchase a CGM and connects them with licensed medical professionals from Wheel to prescribe the device.
Subsequently, HealthDyne, a digital pharmacy services provider, will step in to process the prescription and arrange for the CGM to be shipped to the buyer. Although Best Buy hasn’t divulged specific pricing details for the Dexcom G7 or other CGMs that may join its virtual inventory, it did clarify that these products won’t be initially covered by insurance. However, customers may be able to use funds from FSA, HSA, and HRA accounts for their purchases.
Currently, the retail price for a one-month supply of G7 sensors is approximately $375, although standard pharmacy channels often offer discounts and insurance coverage, which can significantly reduce the cost, according to Dexcom. This strategic move by Best Buy not only caters to the growing demand for health management tools but also opens up new possibilities for consumers seeking innovative solutions during the holiday season.