“This trend will impact demand for the delivery of primary and urgent care, but will have little or no bearing on the demand from specialty practices for traditional medical office space for two reasons – the specialized equipment required for many specialty practices, and the demand for specialty care doesn’t justify a mini-clinic approach,” said Joseph Fetterman, executive vice president of Colliers International’s Healthcare Services Group in an interview with Connect Media, June 25, 2019.
Concierge Medicine Today’s Sister Publication, The American Journal of Retail Medicine Is Following These Stories And Their Impact on Primary Care, Today — Private and Cash Only Physician clinics and practices would be wise to learn about how these businesses are going to impact and compete with plan-reimbursed primary care AND compete for the Direct Primary Care customer, Gen-X, Gen-Y and Millennial Patient customers.
TEXAS | Walgreens Unveils Latest Primary Care Partner: VillageMD
It’s the latest test for Walgreens, which is already piloting urgent care centers adjacent to its stores in several markets and senior clinics in a partnership with the large health insurer Humana. By partnering with Chicago-based VillageMD, Walgreens said it is focusing on “providing adult patients in the Houston community with a transformative primary care experience.” Houston is also a test market for rival CVS Health, which has rolled out its new HealthHUB locations in the same fast-growing Texas market.
Healthcare clinics can operate successfully in any market tier, depending on factors such as existing supply of healthcare providers, demand for those services and population demographics, according to Gary and Coursen. For this reason, former bank branches can be desirable spaces for healthcare providers, as they tend to be in highly visible locations, often contain designated parking areas and are close to growing neighborhoods.
Connect Media was curious about the intersection of healthcare and retail today, so we tracked down two experts to give us their insights: Joseph Fetterman, executive vice president of Colliers International’s Healthcare Services Group and Anjee Solanki, national director of retail – USA for Colliers International.
OTHER RETAIL HEALTHCARE STORIES We’re FOLLOWING RIGHT NOW …
TECHNOLOGY | Walgreens teamed up with NewYork-Presbyterian Hospital to put telemedicine kiosks in a number of New York City stores.
GROWTH | CVS And Walgreens Are On Different Paths To In-Store Healthcare
For now, it appears CVS Health and Walgreens Boots Alliance are going down different paths and at different paces to providing healthcare services inside their stores.But neither pharmacy chain rival is turning away from retail healthcare as a critical growth strategy. Walgreens in April announced a deal with the primary care provider VillageMD, which is developing clinics next to Walgreens in Houston as a precursor to a potential national rollout. And in the Kansas City market, Walgreens has a joint venture with the health insurer Humana to develop senior health clinics inside the drugstores. For the last two years, such partnerships have been testing concepts and piloting healthcare services and technology to develop what executives have called the “drugstore of the future.”
TECHNOLOGY | Walgreens’ CMO on the retailer’s expanding healthcare role, Microsoft partnership
Pharmacy and retail giant Walgreens has been aggressively working to establish itself as a force in the growing market for digital healthcare and web-driven patient care as it looks to outmaneuver rivals like CVS Health and Amazon.
BUSINESS | CVS Lays Out Path to Becoming a Healthcare Company — CVS Health CEO Larry Merlo announces the expansion of its HealthHUB format.
As expected, CVS Investor Day delivered on its promise to inform and excite the investor community. CVS Health CEO Larry Merlo started the day by introducing a new set of strategic priorities and announcing the expansion of the retailer’s new HealthHUB format to 1,500 stores. CVS’s senior leadership team also provided details ranging from the Aetna acquisition to the recent success in front-store health and wellness categories. As suppliers look to better partner with CVS Health, Investor Day highlighted CVS’s renewed focus on self-care with details on the goods and services the retailer is prioritizing. Here are some key takeaways from the June 4 event.
Healthcare is rapidly expanding alongside population growth in most cities. In San Diego, healthcare clinics and urgent care facilities are moving into retail centers to better accommodate population centers, and the trend is among the biggest changes for the architects and designers outfitting these spaces, according to speakers at a recent CREW San Diego luncheon. The speakers discussed why healthcare integration into retail spaces is among the top trends in response to growing demand for healthcare.
Connect: The retailization of healthcare began more than 20 years ago and continues to change the way providers deliver care. How will it evolve over the next five to 10 years?
Fetterman: The retailization of healthcare is not surprising given that retail and healthcare share a number of critical requirements: convenience, prominence, visible and accessible location, and strong socio-economic demographics. The delivery of healthcare is evolving rapidly and it is driven by convenience, technology, integrated care and outcomes. As a result, in-home telemedicine has become an emerging trend with aspects of primary care, specialty care (check-ups, monitoring and some diagnosis) and even non-acute urgent care that can be performed via telemedicine. At the same time, the changing face of brick-and-mortar retail will create continued opportunities for healthcare services to locate in repositioned mixed-use retail centers. READ FULL STORY …
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