Content about Economics

WHAT IT MEANS AND WHY IT'S IMPORTANT — "It is not from the benevolence of the patient, the pharmacist or the payer that we expect our better health, but from their regard to their own self interest." While the somewhat-modified quote is ascribable to Adam Smith, an 18th-century economist credited with the invisible hand theory, the principle holds true: Solutions developed as a part of commerce are both more efficient and more sustainable because they benefit all involved.

LANDOVER, Md. — Giant Food announced that customers who utilize Coinstar kiosks at its stores now have the option of placing the full value of their coins on to a no-fee Giant Food gift card.

The gift cards are immediately activated and can be used the same day, Giant Food said. In addition to the Giant Food gift card option, customers also have the opportunity to select a gift card from a variety of national retailers and e-retailers.

BENTONVILLE, Ark. — Walmart is hoping to blaze a bold new trail down the path toward wellness in its healthy food discount partnership with HumanaVitality announced this morning, and the global retailer has challenged others to follow. 

TORONTO — Royal Bank of Canada and Canadian pharmacy retailer Shoppers Drug Mart have introduced a new cobranded RBC Shoppers Optimum MasterCard. In conjunction with the launch, RBC announced its intention to acquire the existing Shoppers Optimum MasterCard credit card portfolio.
 

NEW YORK — Safeway will package $150 million in real healthcare savings into an overall wellness strategy to be implemented over the course of 2013, the grocer's chairman and CEO Steve Burd told analysts Thursday morning at the Goldman Sachs 19th Annual Global Retailing Conference. 

AUSTIN, Texas — Whole Foods Market has launched two new eco-friendly gift cards, with plans to replace the recycled plastic cards that will be phased out over time.

The new cards — one made of paper and the other of responsibly harvested wood — are certified by the Forest Stewardship Council and have a lower carbon footprint, are reusable, recyclable, compostable and require less energy to be produced.

NEW YORK — The slow economy, cost cutting and lower use of services by patients looking to save money will combine to cause healthcare spending to grow at a "historically" low rate in 2013, according to a new report released Thursday.

WASHINGTON — The National Retail Federation is responding to a report from the Federal Reserve that revealed that debit card swipe fees collected by the nation's largest banks have dropped significantly since reform regulations took effect last fall.

ST. LOUIS — Workers' compensation pharmacy costs took on an extra $2.1 billion in 2011 due to unnecessary use of more expensive drugs, according to a new report by pharmacy benefit manager Express Scripts.

ST. LOUIS — The Federal Trade Commission's ruling on the Express Scripts and Medco merger may be imminent, Express Scripts noted in a Form 8-K filing to the Securities and Exchange Commission on Wednesday.

WHAT IT MEANS AND WHY IT'S IMPORTANT — Budget cuts are never an easy thing to do. Even if slashing spending on this program or that program can help replenish the government's coffers and reduce a budget deficit, somebody always ends up losing.

(THE NEWS: Healthcare providers can challenge Calif. Medicaid cuts, Supreme Court rules. For the full story, click here)

TORONTO — Royal Bank of Canada and Shoppers Drug Mart are launching a nationwide program that makes it more convenient for Canadians to bank and earn rewards at Shoppers Drug Mart/Pharmaprix locations throughout the country.