New deal with Atrium Health

Best Buy's Geek Squad is now offering assistance in setting up virtual hospital rooms, according to recent news. The company has entered a three-year partnership with Atrium Health, a non-profit healthcare system based in North Carolina, to help facilitate a hospital-at-home program.

As part of this program, Best Buy's Geek Squad will visit patients' homes to install technology that remotely monitors their vitals, such as heart rate and blood oxygen levels. They will also train the patient or their family members on how to use these devices. The data collected will be shared securely with doctors and nurses through the telemedicine hub provided by Current Health.

Best Buy's Hospital-at-Home program aims to serve 100 patients daily with cost-effective care in their own homes. Also, this program could be more effective in cost than hospital care which we have at this time.

In terms of financials, Atrium Health will purchase the devices from Best Buy, and patients will pay Atrium through their insurance. Meanwhile, Best Buy's revenue from this initiative is expected to drive growth in its healthcare division.

Best Buy has been expanding its healthcare business over the past few years with the acquisition of GreatCall, Critical Signal Technologies, and Current Health. The company's latest hospital-at-home program aims to create a more seamless pathway for at-home care and revolutionize how healthcare is delivered to patients in their homes. This move comes as a response to the COVID pandemic, which caused hospitals to become overcrowded.

Atrium Health, one of the largest healthcare nonprofits, initiated the program, which has since expanded to cater to patients with various conditions. The hospital-at-home program has successfully served over 6,300 patients to date.