How Has Retailization Affected Traditional Healthcare Providers?

Healthcare is going through a highly visible shift that can create a threat for traditional healthcare service providers. Initially, the medicines and first aid equipment were only available in a pharmaceutical store by traditional providers. The Covid 19 restrictions have enhanced the business model as the medicines and over-the-counter drugs are available at marts, amazon and other online platforms as well. 

However, the change has some visible positive impacts, but there are some plot holes when the focus is shifted to the traditional healthcare providers. CVS Health has well-positioned its retailing system by fulfilling the needs of healthcare services and attracting more customers to the retail level of the market. This has created a vast gap between the traditional system and its customers.   

This threat directly affects the revenue stream of a traditional provider, while they spend a high amount on building infrastructure. It is important to look after the virtual care of the patient. The traditional providers can easily connect to their customers and provide them with a virtual service that makes the patient feel safe and secure at the time of need. There are many IT managed healthcare services that are trying to overpower the competitor and save a place in the market.  
Though it is a challenge for these traditional providers, they can still find their place among the customers by embracing the digital path and fulfilling the expectation of the healthcare customers. The rates should be affordable and they must look reasonable to the customer while they are taking the services. Personalisation and virtualisation are other strategies that could provide them with a place among potential customers. Online consultation is effective for both customers and traditional service providers. This fulfils the need for social distancing as well as help in building a loyal patient base for traditional healthcare.