New study demonstrates retail clinic model growth
WHAT IT MEANS AND WHY IT’S IMPORTANT — The new data by Marketdata Enterprises is significant as it puts a number against a very valuable and fast-growing segment of health care that will continue to grow regardless of who is elected president and what happens to healthcare reform.
(THE NEWS: The retail health clinic and urgent care center market currently is poised for strong growth in the coming years. Click here to read the story.)
Right now, the urgent care centers are the big piece of the pie with 9,000 urgent care centers generating revenues of $9.23 billion this year, according to Marketdata.
However, DSN believes that will change. Why? Retailers like Walgreens, CVS, Kroger, Target and Walmart and others can deliver a scalability that regional urgent care operators simply cannot. For one thing, such retailers already have the stores and the best real estate.
Echoing the sentiment, Marketdata researchers believe that “there will be a net addition of about 340 clinics per year in 2014, 2015 and 2016. Obviously, Walmart and Safeway right now are the two wildcards in the equation. CVS already has stated it is committed to open 100 new clinics a year and the No. 2 competitor, Walgreens, will not want to get left further behind. Target stores could also ramp up their expansion plans. Added to these companies, we have lots of grocery store and supermarket chains that will probably enter the market.”
Marketdata researchers forecast that there will be roughly 2,700 retail mini-clinics operating by 2016 that will generate revenues of $1.38 billion. This implies an 18.5% average annual growth rate in revenues from 2013 to 2016.
In any event, the numbers look good and continue to show how quickly this model is ramping up.
The key question, is where is your company in terms of its level of engagement with the clinics?
Patients can’t afford to be cheap on medication therapies
WHAT IT MEANS AND WHY IT’S IMPORTANT — Sticker shock is often a major factor in any person’s purchasing decisions, but while deciding to put off buying a new car might not have catastrophic consequences, not filling a prescription because it costs too much can.
(THE NEWS: Pharmacists say cost is biggest barrier to Rx adherence. Click here to read the story.)
By consulting with patients, pharmacists are in a good position to knock some sense into patients who might consider stopping medication therapies by reminding them, for example, that the consequences of non-adherence can be more expensive in the long run than the drugs themselves, including trips to emergency rooms and complications related to the disease being treated. Health is at least one area in which one can’t afford to be cheap.
At the same time, they may be able to help patients save some money as well. If patients are anxious about taking expensive branded drugs, the pharmacist can tell them about possible generic alternatives. They can also tell patients about possible discounts through drug makers’ patient-assistant programs.
But it’s important to remember that while cost may be the biggest reason for medication non-adherence, it’s only one of many reasons. For example, a recent study led by a researcher at Northwestern University found that more than one-fifth of children’s Medicaid prescriptions are never filled, though prescriptions for antibiotics and those sent electronically were more likely to be filled, and the researchers suggested there were "system-level factors" that affected primary adherence.
FDA approves Abbott’s Humira for ulcerative colitis
SILVER SPRING, Md. — The Food and Drug Administration has approved a drug made by Abbott for treating ulcerative colitis.
The agency announced Friday the approval of Humira (adalimumab) for moderate to severe UC. The drug was already approved for rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn’s disease, plaque psoriasis and juvenile idiopathic arthritis.
UC is a chronic disease that affects about 620,000 Americans, according to the National Institutes of Health.