Retail health clinics are thriving by offering convenience, affordability, and accessibility. With extended weekend hours, shorter wait times, direct access to prescriptions, and multiple locations, they are effectively meeting community needs. These clinics are alleviating the strain on healthcare systems and urgent care facilities, particularly during physician shortages. Significant cost savings for uninsured patients are further driving the shift towards retail health services.
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What are the two emerging growth opportunities in retail health?
- In-Store Health Clinics: In response to the rising demand for healthcare access and the presence of established retail facilities in urban and rural areas, the in-store health clinic segment is showing significant growth potential. Retailers are identifying healthcare needs, especially in underserved urban areas and rural healthcare deserts, and expanding their in-store clinics. These clinics are providing affordable healthcare services, enhancing competitiveness and industry expansion. Retailers are using in-store clinics to attract customers who are also purchasing healthy foods and health-related items.
- Clinical Trials and Real-World Evidence: Retailers and pharmacies are diversifying their revenue streams by entering the clinical trial services industry. Retail health clinics are leveraging their existing infrastructure, omnichannel care delivery, extensive locations, and access to large population groups to support clinical trials. This shift is benefiting pharmaceutical companies and contract research organizations (CROs) by facilitating decentralized trials, simplifying patient recruitment and retention, and reducing the number of phase 3 clinical sites. Central contracts with retailers are providing convenient access to numerous trial locations. Industry leaders like Walmart, Kroger, CVS Health, and Walgreens are partnering with pharmaceutical companies and CROs to utilize their retail clinics for clinical trials, revolutionizing the clinical trial landscape.
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