The COVID-19 pandemic exposed the cracks in the foundation of healthcare delivery across the globe. Soaring costs, inconsistent quality, and limited access to primary care paint a grim picture. But what if there was a solution waiting to be unlocked – a powerful alliance between two seemingly disparate sectors: retailers and health systems?
This isn't a pipe dream. While some partnerships already exist, they've merely scratched the surface of their potential. To fundamentally transform healthcare, a new era of collaboration is needed. Here's why this union holds immense promise, and the key actions needed to unlock its full potential.
Retail clinics, often touted for their convenience, have largely focused on basic services like treating earaches or administering vaccinations. However, the future lies in offering a more holistic approach. Imagine chronic disease management, mental health counseling, and even primary care readily available at your local retailer.
Several retailers are already taking tentative steps in this direction. Partnerships with companies like Sesame, offering telehealth consultations, and Amazon Clinic's virtual visits for common conditions are positive developments. But a truly comprehensive approach is needed, one that caters to patients with complex needs who require ongoing interaction with various specialists.
While in-store clinics offer convenience, there's an even more accessible option – a patient's own home. The pandemic spurred the growth of telemedicine, but it often focused on episodic services. The future lies in leveraging technology to deliver chronic disease management and even hospital-level care remotely.
This is where retailers can bridge the gap. Companies like Best Buy are forging partnerships with health systems, leveraging their Geek Squad's expertise to install and maintain home-based medical devices. Imagine seamless integration – a health system prescribing a device and Best Buy's Geek Squad ensuring it's set up and functioning efficiently in your home.
Retailers and health systems are data giants. Imagine the insights gleaned by combining information on a patient's health journey (retail clinic visits, prescriptions) with their purchasing habits. This goldmine of data can be harnessed to improve care coordination, predict disease outbreaks, and even personalize treatment plans.
For instance, researchers analyzed supermarket purchases to predict flu outbreaks based on the surge in items like tissues and oranges. Retailers can leverage this knowledge to trigger targeted reminders or promotions for healthier food choices or fitness gear, with patient consent of course.
Ethical concerns regarding data privacy are paramount. However, retailers and health systems already navigate data privacy regulations like HIPAA and GDPR. By collaborating with regulators, they can develop responsible data sharing protocols to unlock the true potential of data-driven healthcare.
The healthcare industry faces a looming workforce crisis. Retailers can play a crucial role in addressing this challenge. Walmart's Live Better U program is a prime example, subsidizing employee education for healthcare careers like pharmacy technicians and medical assistants. This not only bolsters their healthcare workforce but also provides career advancement opportunities for retail staff as the industry shifts online.
Health systems can join forces with retailers to ensure these training programs meet quality standards and connect graduates with job opportunities. Together, they can create a new workforce model equipped to deliver care efficiently, with the right personnel at the right location.
To unlock the true potential of this alliance, retailers and health systems need to address critical questions:
Shared Vision and Value Creation: What market needs will the partnership address? How will it benefit both parties? Is the goal to increase access to care, reduce out-of-network visits, or integrate care delivery for better outcomes?
Complementary Skillsets: How will each partner's unique strengths be leveraged? Retailers might excel at home-based technology deployment, while health systems take the lead on establishing clinical protocols for home healthcare services. Recognizing each other's strengths and limitations is crucial.
Engaging Employers and Insurers: How will payers benefit from this model? Retailers and health systems can work together to manage care episodes – from initial clinic visits to hospital stays and home recovery – to reduce costs by preventing complications and readmissions. They can move away from the traditional fee-for-service model and explore subscription-based plans that cover patients' healthcare needs more comprehensively.
Retailer-health system partnerships have yet to reach their full potential. This is because both parties have operated within their comfort zones, focusing on preserving their core businesses. But a paradigm shift is needed – a focus on population health, not just healthcare volume.
