Best Buy (NYSE:BBY) is best known for installing TVs and home theater systems. Now, its Geek Squad is helping to set up virtual hospital rooms.
The consumer electronics retailer said Tuesday it has struck a three-year deal with Atrium Health, a North Carolina-based health-care system, to help enable a hospital-at-home program. Atrium Health is part of Advocate Health, one of the country’s largest health-care nonprofits.
Best Buy’s Geek Squad will go to patients’ homes, set up technology that remotely monitors their heart rate, blood oxygen level or other vitals and train the patient or others in the home how to use the devices. The data would then be shared securely with doctors and nurses through the telemedicine hub from Current Health.
Best Buy began setting up virtual-care systems in mid-February for 10 hospitals in and around Charlotte, North Carolina. The company said it aims to have about 100 patients in the program each day — roughly equivalent to a midsized hospital but without a building.
Best Buy and Atrium did not disclose specific financial terms, but said Atrium will buy the devices from Best Buy and use Geek Squad services for installation and retrieval when the patient is cleared from care. Patients will pay Atrium through their insurance, including Medicare or Medicaid.
For Best Buy, the hospital-at-home program represents the latest push to turn health care into a more meaningful revenue driver. Its health-care expansion comes as sales of other consumer electronics slow.
BBY shares hiked 85 cents, or 1%, to $83.15.
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