The Evolving Value
Stream of Healthcare
The road map to downstream innovation leading
to retail includes increased loyalty, trip frequency
and trust with store associates. Self-care has
been described as a continuum, starting with
individual choices on health and moving toward
the management of illness and chronic conditions.
One of the fastest-growing segments along the
continuum of care involves family caregiving, the
care of a loved one in a home environment.
The rapidly aging boomer population with an
increased rate of chronic conditions, a propensity
toward self-care and a steady stream of Rx-to-OTC switches have all fueled OTC medication
sales growth in the U.S. The uberization of
healthcare is setting the stage for a new type of
retail healthcare in our country. Next practices to
serve customers in the new self-care era include:
Category management based on care
transitions: Creating solution sets at retail that
correspond to need stages encountered by patients
transitioning from the hospital setting to home-based recovery. This destination approach can
consolidate trips and drive shopper satisfaction.
Enhanced transparency across the healthcare
spectrum: Ensuring patient well-being requires
visibility and cooperation across the various
members of the healthcare team. Imagine retail
serving as a hub for patient communication and a
conduit to better health outcomes.
Advancements in tech-based healthcare
products: From wearables to digitally connected
products, retailers will increasingly stock,
recommend and offer technology-based solutions.
Focused efforts around educating and
supporting consumers: Consumers will rely on
retail pharmacy partners to guide digital decisions,
understand data analytics and monitor progress.
Expanded ecosystem and connections with
new players: Working with various players outside
the operation, partnerships will emerge that
offer opportunities to improve the health of the
population served. Understanding your value along
the evolving continuum of care is essential.
98 NOVEMBER 2017 WINSIGHT GROCERY BUSINESS
handoffs from the hospital/payer to the in-store experts.
These new care models offer opportunities for retailers
to become patient care destinations, leading to greater
affordability and healthier consumers. The opportunity
for retailers is in understanding these new opportunities, the drivers behind them, their impact on consumer
spending, and how category and merchandising strategies should evolve.
Home Health Movement Extends Beyond Elderly
It’s clear that trends show healthcare is no longer confined to clinicians in the clinics, hospitals or other institutional settings, with more care being provided in the
home. As this trend increases rapidly over the next few
years, retailers will become a destination and solution for
home care products.
In this new era, a grocery store could be the most
important source for consumer health and wellness,
positioning retail outlets as a huge catalyst for consumer
Home health (when consumers considers themselves
“Doctor Me”) is being fueled by factors such as a shortage of primary care physicians and access to better over-the-counter retail options. Already, eight in 10 consumers prefer using OTC self-treatments before visiting a
Digital healthcare options, including telemedicine
consultations and mobile health apps and trackers, allow
consumers to become so-called “e-patients.” Research
predicts the number of consumers using home health
technologies will increase from 14. 3 million worldwide
in 2014 to 78. 5 million consumers by 2020.
For retailers and manufacturers, the market potential
in home health is significant, and it’s being fueled by
the consumer taking ownership of their own health and
wellness. Nearly every household in the U.S. is engaged
in self-care in one way or another. From smart scales to
ingredient scanners to brain activity monitors, retail is
the primary pathway for the patient/consumer to better manage their own health. The home has become the
place to address most chronic—and some acute—
conditions. And the consumerism of healthcare is not just a
trend; it’s the future.
Amount saved in
system for every
$1 spent on retail
A high-level perspective
of the healthcare chain can
only produce a win-win for