POC testing, vision and hearing centers are future of retail clinics

There is a potential white space opportunity for retail clinics in advancing point-of-care diagnostic offerings on site. In 2015, combined sales of POC tests, clinical chemistry and immunoassay laboratory tests and vaccines to retail clinics reached $240 million, with vaccines accounting for a greater share than POC tests or laboratory tests. This reflects total annual growth of more than 26% per year since 2010, when retail clinics accounted for about $75 million in purchases of these products.

Pharmacies have been exploring the potential behind POC testing for some time, and Drug Store News expects to see this offering continue to gain ground in retail. Last year, Quest Diagnostics partnered with Safeway and Albertsons on a pilot that places Quest’s lab testing services and diagnostic capabilities adjacent to the pharmacy. And the NACDS Foundation currently offers 20 hours of continuing education that explores how to establish a POC testing service.

In addition to POC testing, there are opportunities incorporating vision care and hearing aid centers into retail. CVS Pharmacy in April opened seven hearing and five optical centers stores-within-stores in the Baltimore-Washington, D.C., area, with plans to expand to 50 locations by the end of this year. Earlier this year, Walgreens piloted a retail vision care center within its flagship Magnificent Mile store in Chicago, taking what has been a successful page out of its U.K.-based Boots Pharmacy division and applying that strategy to the U.S. market. In the United Kingdom, Boots is one of the leaders in the optical market with 636 practices.

To read more about retail clinics, and what five top chains are doing in the space, click here.