Led by CVS, retail chains continue to change the entire landscape of the healthcare business. There are a few clear advantages to this model of healthcare. First and most obvious is that the hours and location of these retail clinics is convenient. With 1,500 new CVS clinics opening by 2021, hospitals and many types of practices—particularly urgent care and primary care—can expect even more competition.
Additionally, CVS and other retail clinics offer transparent prices available upfront. Moreover, CVS offers widespread availability of telehealth. And its new multipurpose wellness locations offer space for everything from yoga to vitamins to health classes.
These conveniences put pressure on private practice primary care and urgent care, which often fails by comparison. This also offers further proof that the consumer mindset values convenience first and foremost.