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The Internet. Nothing has fueled the appetite and the demand for health information more than the Internet. Not long ago health information was primarily dispensed by physicians and patients did what their doctors told them. Not today. Patients still lean on their doctors, but 50 percent of Americans are turning to the Internet, as well as a variety of news sources, seeking information on healthcare.

If you think of the modern patient, they are the most empowered generation to date utilizing healthcare services. They are information seekers, not passive participants in the patient-physician encounter. They come very prepared to physician appointments with descriptions of their disease process, various treatment regimens and even questions about alternative medicine.

Clearly, physicians are experiencing the benefits, as well as the downside, of empowered patients on a daily basis. For example, a Google search on "diabetes" produces 9,300,000 hits. For the diabetic patient, how do you sift through this mountain of information to determine what is really relevant and meaningful? Furthermore, what consumer products are available in order for a diabetic patient to effectively and proactively manage their life?

There is a great transition currently underway in healthcare – the transition from traditional patient to customer. The patient is discharged from the healthcare system and is often faced with how to adequately choose the best health products for their treatment. At times, products are suggested during the visit or treatment regimen, but others are purchased independently by the customer to advance their own healing process. Some choices could include books on nutrition, fitness products, food scales, vitamin supplements and medical devices to monitor blood sugar.

Very often customers are left to discern on their own where to buy these health products, which product brands are the safest and best options and even if the product is appropriate given the specific medical condition. There is no clinical connection or strong endorsement by a trusted healthcare advisor in order to make the best possible choices. As an example, it is estimated that nearly $300 on average is spent after a hospital encounter, but there often is no direct involvement or revenue sharing by the medical institution.

Now just imagine for a moment a different relationship with that patient-turned-consumer. The patient visits the hospital to see a diabetic educator. Prior to leaving the visit, a number of specific products are identified as important to managing health and lifestyle. In fact, the customer could now purchase those products on site at the hospital store, which is merchandised with the specific needs of these patients in mind. Perhaps the customer could be directed to a Web site which has an e-commerce store with select product offerings stocked for the diabetic patient. This store is private labeled as the local hospital system, group practice, or even a specific service line, i.e. a Diabetes Center of Excellence. Best of all, everything is shipped directly to the patient's home, eliminating trips around town and conversations with store employees who are not clinically trained.

This is the emerging market called "Retail Healthcare." The retail healthcare industry is currently estimated at $500 billion in revenues annually and projected to be $1 trillion within five years. As reimbursements in healthcare are challenged and continue to diminish for hospitals and healthcare providers alike, finding new sustainable revenue streams is vital. More importantly, participating in the full patient care continuum and ultimately enhancing the patient experience is going to be a significant market differentiator for savvy healthcare institutions and medical providers. It's a win-win for the patient and healthcare provider.

Clearly, healthcare consumerism is changing the demand, model, and even location of how many healthcare services are being delivered. Empowered healthcare consumers have access to more information and certainly command a bigger voice in shaping their overall healthcare experience. There is significant opportunity for enhanced branding, improved quality of care and enhanced revenue streams for medical providers that stay on top of the trends and tap into the burgeoning retail healthcare marketplace.


Gloria Caulfield is the Vice President of Marketing for Paquin Healthcare Companies, the national leader in developing Retail Healthcare solutions for hospitals and healthcare systems. She has served on the My Region BOD, bioOrlando Task Force, Hospice of the Comforter Philanthropy Board, and EDC Investor Relations team.

Tags:

Internet, Retail Healthcare

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