Primary care, the foundation of healthcare, is undergoing a significant shift.
Big-name companies like Amazon and CVS are entering the space with a promise to revolutionize it. With their resources and innovative ideas, they can improve patient experiences and outcomes.
These corporations are transforming how we access primary care, both online and offline.
But the question is, will this benefit patients, or will it just be about making money?
Read on to find out.
What’s happening: Big businesses are entering primary care!
Amazon partners with Cleveland Clinic
Cleveland Clinic and Amazon One Medical are collaborating to set up a primary care clinic in Northeast Ohio. This will be Amazon’s first primary care office in the Cleveland area.
The new facility will provide patients with convenient access to same-day appointments, on-site lab services, and virtual care. It will be backed by Cleveland Clinic’s renowned medical expertise and Amazon One Medical’s strong virtual care service.
Both corporations will further decide where to open more in-person facilities.
CVS Health announces primary care for Aetna members
CVS Health is expanding access to primary care by offering in-network services at MinuteClinics for certain Aetna members in Houston, San Antonio, and Atlanta. It plans to introduce this service to other areas soon.
This move aims to address long wait times for primary care appointments and provide essential preventive care to millions of patients.
Why are they entering the primary care market?
Increasing demand for primary care
The primary care market is experiencing significant growth. The U.S. market alone is projected to reach $773.6 billion by 2030, growing at a CAGR of 4.5%. This highlights the increasing demand for essential primary care services.
This growth is fueled by several factors, including:
- An ageing population requiring more frequent care,
- The rising prevalence of chronic diseases,
- A growing emphasis on preventive care.
Build on existing virtual care offerings
By opening physical clinics, big corporations can offer a more complete healthcare experience. A mix of online and in-person care is the best way to meet patients’ needs.
By having physical clinics, they can:
- Provide personalized care: In-person visits allow for more detailed check-ups and discussions about health concerns.
- Offer a wider range of services: Physical clinics can provide services like lab tests and vaccinations that might not be available online.
- Build stronger patient relationships: Face-to-face interactions can help build trust and improve communication between patients and healthcare providers.
Fill the existing care gap
Patients often have to wait for months to see a primary care doctor. This lack of access can lead to more expensive visits to the emergency room or urgent care centre. It also limits access to critical preventive care services.
With big corporations entering the space, they can fill this care gap and offer affordable primary care services to the underserved.
It creates a significant opportunity to reach people who could benefit from primary care.
Potential impact of big businesses entering the primary care market
The increasing involvement of large corporations in primary care has significant implications for primary care providers and patients alike.
Impact on care providers
- Increased competition: As big businesses enter the market, traditional primary care practices may face increased competition. This could lead to price pressures and challenges in attracting and retaining patients.
- Opportunities for collaboration: By partnering with big corporations, providers can gain access to resources, technology, and expertise. This can help them improve the quality of care and efficiency of their practices.
Impact on patients
- Increased access to convenient care: Big corporations often have the resources to invest in technology and infrastructure. This can lead to increased access to convenient care options, such as telehealth and extended clinic hours.
- Data privacy concerns: As big businesses collect and analyse patient data, there are concerns about data privacy and security. Patients need to be assured that their personal information is protected.
The importance of quality primary care
Improve population health outcomes and reduce costs
- Preventive care: Primary care doctors can help in preventing diseases. They offer vaccines, screenings, and health advice, saving patients from expensive hospital stays.
- Chronic disease management: Primary care can help improve patient outcomes. It can reduce healthcare costs associated with complications by managing chronic conditions like diabetes, hypertension, and heart disease.
- Care coordination: Primary care providers can act as coordinators, ensuring patients receive timely and appropriate care across different healthcare settings. This reduces unnecessary tests and procedures.
Meet the growing demand for convenient and accessible care
- Ageing population: As the population ages, the demand for primary care services increases. Older adults often require more frequent check-ups and management of multiple chronic conditions.
- Consumer-driven healthcare: Telehealth services and extended clinic hours are becoming more popular with patients as they seek convenient and accessible care options.
- Value-based care: Many healthcare systems are shifting towards value-based care models, which incentivize providers to deliver high-quality care at lower costs. Primary care plays a crucial role in these models.
Leverage data to personalise care and improve efficiency
- Data-driven insights: By collecting and analyzing patient data, primary care providers can identify trends, predict risks, and tailor treatment plans to individual needs.
- Remote monitoring: Technology-enabled remote monitoring can help track patient health metrics and intervene early to prevent complications.
- Population health management: Analyzing large datasets can help identify high-risk populations and implement targeted interventions to improve overall health outcomes.
Looking forward
Through CMS’s new codes addressing advanced primary care services, the government is opening up the primary care market for innovative models.
Big businesses are exploring this opportunity to expand their care services. They’re opening more clinics and offering new services to meet the growing demand for primary care.
With this change, the market—already valued at a whopping $773.6 billion and projected to grow even more—is likely to see a surge in innovation and competition.
With the CMS supporting these changes and big businesses investing in the sector, the future of primary care looks bright.
