Revolutionizing Kidney Care and Adapting to Changing Consumer Preferences in the US Healthcare Landscape

Ben H.

Hatched by Ben H.

Mar 04, 2024

3 min read

0

Revolutionizing Kidney Care and Adapting to Changing Consumer Preferences in the US Healthcare Landscape

In an effort to improve care for kidney patients in Nevada, Strive Health and Prominence Health Plan have recently partnered to provide high-quality, whole-person care for individuals with chronic kidney disease (CKD) and end-stage kidney disease (ESKD) who are enrolled in a Prominence Health Medicare Advantage plan. This collaboration aims to address the growing demand for specialized kidney care and ensure that patients receive comprehensive and compassionate treatment.

Simultaneously, the US retail pharmacy industry is undergoing significant changes due to saturated retail locations, labor shortages, inflationary pressure, and a plateau in generic drug penetration. To remain competitive in this evolving landscape, all types of retail pharmacies must understand and adapt to changing consumer preferences. A consumer survey conducted by McKinsey provides valuable insights into these preferences and offers guidance for retail pharmacies to meet the needs of their target audience.

The retail pharmacy sector can be categorized into four types: retail chains, regional pharmacies, independent pharmacies, and mail-order and online pharmacies. Retail chains, representing a third of stores and prescription revenues in 2021, are the most prevalent and dispense the highest number of prescriptions per store. However, mail-order and online pharmacies are gaining traction, with low penetration for nonspecialty drugs but significant potential for growth in the future.

In order to disrupt the market and appeal to convenience-seeking consumers, online pharmacies can leverage their natural benefits of speed and convenience. Additionally, bridging the potential gaps in consumer experience caused by their lower-touch approach is crucial. Personalized experiences, such as video telehealth visits with remote pharmacists, can help establish a personal connection and enhance convenience for customers.

Drawing connections between these two healthcare initiatives, it becomes evident that personalized care and convenience are key factors driving success in the evolving healthcare landscape. Both Strive Health and online pharmacies recognize the importance of adapting to consumer preferences and leveraging technology to enhance patient experiences.

Actionable Advice:

  • 1. Embrace technology: Both healthcare providers and retail pharmacies should invest in technology to improve patient experiences. Telehealth visits, online prescription fulfillment, and remote consultations can enhance convenience and accessibility for patients.
  • 2. Prioritize personalized care: Patients with chronic conditions, such as kidney disease, require personalized care to manage their health effectively. Healthcare providers and retail pharmacies should strive to offer tailored solutions and establish a personal connection with patients through remote consultations or video visits.
  • 3. Stay informed about consumer preferences: Regularly conduct surveys or market research to gain insights into changing consumer preferences. This information can guide strategic decisions and help healthcare providers and retail pharmacies adapt their services to meet evolving needs.

In conclusion, the partnership between Strive Health and Prominence Health Plan highlights the importance of providing high-quality, whole-person care for kidney patients. Simultaneously, the US retail pharmacy industry must adapt to changing consumer preferences to remain competitive. By embracing technology, prioritizing personalized care, and staying informed about consumer preferences, both healthcare providers and retail pharmacies can navigate the evolving healthcare landscape successfully.

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