5 Fast Facts About Retail Clinics from Kalorama Information’s Latest Report

Retail clinics, small clinics usually staffed by a nurse practitioner or physician assistant, offer competitive hours and convenience to clients, and a great bonus for retailers. But how are they faring? Kalorama’s report “Retail Clinics 2019 Forecast: Locations, Revenues, Supplier Sales, Trends, Consumer Survey” notes the following: 

  • They’re Growing Locations and Revenues: By the end of 2018, the number of clinics in the U.S. is expected to reach 2,040 clinics and clinics should earn $940 million in total revenues. “Overall, the market has seen rapid growth since we started covering these clinics in 2007,” said Bruce Carlson, Publisher of New York City-based Kalorama Information, part of Bioinformatics Inc. “That figure includes just direct or earned revenues — there are indirect benefits to these stores bringing or retaining consumers to the store who buy more products.”
  • They’re Right in Time to Fill Physician Shortages: The Association of American Medical Colleges projects that physician shortages for primary care physicians will reach more than 49,000 by 2030. This creates a need for additional healthcare providers to serve patients in the U.S.
  • They’re Popular: Patient satisfaction was high for retail clinic visitors in the most recent survey. In Kalorama’s 2018 survey, 92% of respondents said they were satisfied with their most recent visit to a retail medical clinic, and numbers like this have been consistent for the past few years.
  • They’re IT-Equipped: Newer than physician offices, retail clinics didn’t have to convert to information technology, they were born with it. Most retail clinics offer mobile appointment setting and virtual waiting room service. MinuteClinic and Walgreens Healthcare Clinic both use electronic healthcare record systems from Epic Systems, the most widely used electronic healthcare records system in the U.S.
  • They’re In Most Areas, But Not on Every Corner: While the concept has expanded, and stores are finding ways to increase revenues, there is a certain maturity to the market as well, as competition from urgent cares and physician offices are present. Clinic location growth was particularly fast in the 2013 to 2015 period. However, as the retail clinic industry has shifted from an early, emerging growth pattern to a more mature stage, the market gains, in terms of clinic locations. “We won’t say the word plateau, not given the announced plans of major retailers and their popularity” Carlson says, ” But there are limits to any market, and our report gets into how growth in revenues will happen with existing clinic locations.”

Kalorama’s report contains detailed market estimates and forecasts for both retail clinic sales, indirect sales by stores that host them, and sales suppliers make selling IVD tests and pharmaceuticals to them. The report can be found on Kalorama Information’s website. https://www.kaloramainformation.com/Retail-Clinics-Forecasts-Locations-Revenues-Supplier-Sales-Trends-Consumer-Survey-12019249/

/by Bruce Carlson