If you’re in the market for a TV there’s a good chance you’ll end up at Best Buy.  But what if you’re in the market for some healthcare services?

Well, according to a newly released five year plan, it may not be long before the longtime electronics chain becomes an option on that front, too.  Adding the company’s name to the ever-lengthening list of tech-based giants deciding to explore the growing nexus between IT and healthcare, CEO Corie Barry recently unveiled a five year plan that, at least in part, involves “expanding into the healthcare market and moving from selling wearables and devices to adding the analytics and services needed to help senior citizens age in place.”

"We aim to be the CTO of your daily life,” Barry summed up the company’s aspirations.

According to Asheesh Saksena, president of Best Buy Health, the company’s strategy involves bringing new health tech to market, helping consumers navigate that ever-changing landscape, then adapting “its remote monitoring tools and ultimately add(ing) care coordination services as a benefit within health insurance plans.”

Illness prevention, predictive healthcare and care management services are all part of the strategy, and that in turn has lead the company to acquire service providers such as greatcall.com, a mobile communications company focused on health and safety solutions for older adults, and BioSensics, a wearable sensors provider.

Given some of the emerging healthcare statistics, it’s not really a surprising move.

For example, the population is aging, and by 2023 there will be 54 million seniors, 90% of whom what to stay a home.  Consumers have long wanted more control of the decisions surrounding their health and care giving, and payments to providers are increasing being connected to value and outcomes, both of which are increasingly tied to in-home services.

With those developments in mind, Best Buy is targeting expanded remote monitoring capabilities via its Geek Squad, with passive monitoring, AI and new smart home technologies all targeted to help improve healthcare outcomes.

The company is also focusing on helping payers such as Medicare, a review of the plan notes. “With remote monitoring, there's an avenue for Best Buy to serve Medicare users to aid frail seniors. Best Buy is betting it can deliver savings for insurers serving frail seniors for a monthly fee per person.”

In short, as the reviewer summed it up, “the healthcare industry is moving toward Best Buy's sweet spot.”