New entrants coming from a variety of industries “regard their global reach, customer insights, commitment to transparency and trusted brands as critical assets to capture and dominate the fragmented health sector,” Barnes wrote in her report. If even a fraction of consumers end up using at-home, online and retail options for those tests and treatments, traditional medical practices and health systems could lose billions of dollars in revenue – something nontraditional medical providers are betting on. About a quarter of those surveyed would also be open to receiving dialysis or MRIs in a retail clinic. More than a third said they’re open to digital, home-based electrocardiograms, pacemaker/defibrillator monitoring, urinalysis and chemotherapy treatment, along with online physician consultations.
health industries practice.Ī recent PwC survey of 1,000 adults found that nearly half are interested in paying for and receiving services outside of traditional venues for minor problems, such as using at-home kits for strep throat or online consultations for skin rash evaluations, and many are also interested in getting more complex services at home, online or in retail settings if it’s more affordable and convenient. Startups and companies from other industries “are nibbling at the edges of the traditional healthcare ecosystem” as consumers become “willing to abandon traditional care venues for more affordable and convenient alternatives,” wrote Kelly Barnes in a PwC report called “Who will be the industry’s ?” Barnes heads PwC’s U.S.
New entrants in the healthcare market could snatch billions of dollars of revenue from traditional healthcare companies if the traditional companies do not move faster to provide services in the setting consumers want.