The Evolution of the Healthcare Market into Retail Market

TheEvolution of the Healthcare Market into Retail Market

Abstract

Thehealthcare system is truly going through marvelous evolution that isseeing it move most of its services from the traditional hospital andphysician based to the most common current case of physician clinics.This has thereby seen the healthcare system rapidly shift o theretail market.

Thehealthcare industry around the world is currently going through astrong evolution that is seeing the healthcare sector shift to theretail market. The retail market in this case refers to the ordinaryclinics in the street, pharmacies and supermarkets (Meyer, 2008).This shift is currently taking place due to a number of factorsresulting in patients rapidly shifting from the traditional hospitaland physician centers to the more accessible retail clinics.

Thismove has been discovered to have come about due to factors likeincreased convenience, lower costs, increased transparency andinfluence of technology. On convenience, the health care system isshifting to retail because most of the patients love the flexibilityof accessing specialized treatment without prior bookings at any timeof the day as most clinics are now operating on a 24 hour system.This flexibility is providing indispensable convenience that is veryattractive to many unlike the hospital bookings for doctors (Pollert,2008).

Theretail clinics are generally cheaper. Cost and quality are keycompetitive advantages that have to be embraced for increased servicedelivery. Competition from hospitals and other clinics thus help maketheir services more affordable and this is strongly driving thehealthcare sector into retail business (Woodburn, 2007). In additionto that, the level of transparency with which the healthcarespecialists in the clinics attend to the patients coupled with thehealthcare information they are always able to access by the usetechnological applications like various mobile apps have all throughhelped decentralize the healthcare system to the patients’doorstep. Thus, this technology gives the patients more informationof the nature of treatment they need wherever they go.

Tohelp cope with this increasingly developing trend of healthcaresystem going retail, the hospitals should equally partner with retailclinics to help them stay very competitive in the market (Pollert,2008). This should be the ideal way to go because it is very factualthat the future f the healthcare system is going to be in the retailindustry.

References

Meyer,E. (2008). Anurse’s perspective on retail health clinics.Hollywood Medical Center, USA.

Pollert,P. (2008). FrontHealth Service Management.North Dakota, USA. Fargo.

Wodburn,J. (2007). Healthcarefinance Management, on retail based health clinics.New York, Dailey Inc.