Medinnovationblog, authored by Dr. Reece, has an interesting post on how Wal-Mart can teach the physicians a few lessons in business and service. All the factors important to improving health care are discussed:
- Price matters. Wal-Mart’s slogan of “We sell for less” has been a smashing success. Some physician groups have taken the clue by opening and owning their own clinics and by lowering overhead in “cash-only” practices.
- Access matters. Longer hours, no waiting and quick patient processing appeals to health consumers. Some physicians have responded with open-scheduling, see patients on the day they call.
- Transparency matters. Patients like to know in advance or at the site of care what things will cost. Some physicians, particularly in cash-only practices, are posting prices in their offices.
- Predictability matters. Consumers like to know what they are in for. Predictability is what successful corporate franchises, and other in-store clinics, like CVS and Minute Clinics, strive for.
- Location and convenience matters. Walmart got its start by placing its stores in rural and suburbs where competitors had not gone and where parking was ample and free.
I agree with Dr. Reece that these new clinics are or are going to be one of the biggest innovations in the world of health care. But one potential road block for this innovation is that “in-store clinics take two to three years to show a profit, and at least seven clinic operators – short on capital – have closed up shop.” If anyone can make this innovation work, it is probably Wal-Mart.
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