Retail Healthcare Gains Popularity

The growing number of retail clinics is expected to transform primary healthcare and touch 30 million patients globally by 2022, according to a report by Frost & Sullivan. The global retail care market earned revenue of $1.35 billion in 2015 and is expected to reach $4 billion in 2022. Retail clinics are in pharmacies, grocery chains, supermarkets, and department stores, and address minor health issues. They have longer hours than do traditional clinics.

The retail clinic market is growing due to rising healthcare costs and a lack of access to primary care. In most developing countries, health insurance penetration is low and the out-of-pocket spending pinches patients. Rising premiums and higher deductibles are a concern for those with health insurance. A shortage of primary care physicians is resulting in longer wait times for doctor appointments, even in mature markets like the U.S.

Many patients see retail clinics as the second choice, and use then on weekends or after-hours, which limits patient volume. Opening retail clinics is financially impractical in some states due to regulations. The largest U.S. chain only has retail clinics in 33 states. Siddharth Shah of Frost & Sullivan said, “With increasing experience, retail players will expand their services…and experiment with…product-service bundling, telemedicine, and point-of-care technologies to enhance patient experience.”

Last Updated 08/10/2022

Arch Apple Financial Services | Individual & Family Health Plans, Affordable Care California, Group Medical Insurance, California Health Insurance Exchange Marketplace, Medicare Supplements, HMO & PPO Health Care Plans, Long Term Care & Disability Insurance, Life Insurance, Dental Insurance, Vision Insurance, Employee Benefits, Affordable Care Act Assistance, Health Benefits Exchange, Buy Health Insurance, Health Care Reform Plans, Insurance Agency, Westminster, Costa Mesa, Huntington Beach, Fountain Valley, Irvine, Santa Ana, Tustin, Aliso Viejo, Laguna Hills, Laguna Beach, Laguna Woods, Long Beach, Orange, Tustin Foothills, Seal Beach, Anaheim, Newport Beach, Yorba Linda, Placentia, Brea, La Habra, Orange County CA

12312 Pentagon Street - Garden Grove, CA 92841-3327 - Tel: 714.638.0853 - 800.731.2590
Email:
Jay@ArchApple.com
Copyright @ 2015 - Website Design and Search Engine Optimization by Blitz Mogul