Retail Healthcare is a new strategy that healthcare providers are offering. Partnering with Retail Chains and offering healthcare products to population offers an opportunity for impulse buy. As people generally don't like going to hospitals partnering with retail chains gives an opportunity to explore the primary healthcare opportunity.

1. Should Hospitals partner with Big Retail Chains?
Aju Thomas
MHA, Bsc N

2. In a recent article
“10 Healthcare Trends That Will Affect You in 2016”
points out…

3. More than ever before, patients are choosing retail clinics for care instead of
traditional hospital and physician practice services based on cost and
convenience, according to a survey from PwC's Health Research Institute.
These days patients want....
Convenient Transparent
Cost
effective
Care

4. So how's the trend?
According to PwC, the number of consumers who used a retail clinic rose from about
10% in 2007 to 36% in 2015.
Retail clinics, which are run by giant drugstore chains like Walgreens Boots Alliance
(WBA), CVS Health (CVS) and Wal-Mart (WMT) and grocers
like Kroger (KR) treat routine maladies like pink eye, scrapes and bruises but are
expanding into wellness and primary care.
A survey of 1,700 CVS/ MinuteClinic patients who had received care via a telehealth
platform found one-third actually preferred to receive care that way versus face-to-
face with a clinician.
The trend is so good that……….

5. Retail & health partnership is an excellent growth opportunity

6. Why a partnership?
People don’t like going to hospitals & clinics. Waiting time, cost factor and psychological (fear)
are some of the reasons….
A retail store has far higher footfalls than a health centre..
Research suggest that Convenience/impulse buy (the additional item purchased by the consumer
because he/she is already in the store, like pack of gum or magazine in the checkout line) is
often not seen in healthcare whereas it is a regular pattern observed in retail.
The untapped area of primary healthcare (Wellness checks, Health education, Immunization,
Nutrition, Treatment of common illness etc)… will be the opportunity major healthcare
providers would like to capitalize through this partnership…..
Hospitals can reach out to distant geographies and create a spoke for a hub and spoke model thus
attracting more patients.
An impulse buy of a wellness pack, nutritional supplements, a potential conversion through health
education, early diagnoses and treatment and a greater brand identity opportunity will be what
major healthcare providers look out or through this partnership.
A good Customer Lock-in strategy coupled with higher switching cost will make consumers
loyal……

7. Few products and conversion opportunity
Wellness packs
Point of Care testing of Blood Sugar
A potential patient for angiography, surgery or
hospitalization
A potential patient for Diabetes Management
Program
Point of Care testing of BP
A potential patient for Hypertension
Management Program
Tele-consultations A potential patient for hospitalization
Health Education
A potential patient for better managed care or
Obesity or nutrition program
Immunizations Opportunity for being a preferred care provider

8. Disruptive innovation in healthcare like Theranos will be the future
driving force in retail health
Collaborative partnerships with other industries brings new avenues of
business development & opportunities in healthcare…..

9. Thank You