CVS wants 65B healthcare interactions by 2030—hybrid digital, in-person care could help it reach its goal

CVS plans to facilitate 65 billion healthcare interactions by 2030—here are a few ways it’ll reach its target:

• It’s expanding its in-person clinic locations. CVS grew its HealthHUB stores to 650 locations in 2020 alone.
• And it will lean into its new E-clinic telehealth solution. The E-clinics are available in 33 states and let patients link up with a provider that can evaluate, diagnose, and treat common illnesses and help manage chronic conditions. E-clinic visits are covered under most insurance plans, but there’s also “an affordable cash-pay option” of $59 per virtual visit in collaboration with Teladoc.

Patients are delaying care thanks to a lack of affordability and convenience—so low-priced, accessible retail clinics like CVS are in a prime position to draw in consumer traffic.

• 1 in 5 US adults are delaying care amid the pandemic due to financial and access barriers. 40% said an inability to afford care prevented them from seeking it, while 69% said difficulties finding a physician or accessing a doctor's office prevented them from getting care.
• Beyond cost and access, consumers want transparent prices and convenient booking options—areas where retail clinics like CVS, Walgreens, and Walmart are particularly strong. For example, Walmart Health acts like a one-stop shop for care, offering both scheduled and walk-in appointments—and its primary care checkups cost $30 per visit without insurance. For comparison, a traditional doctor's office visit could run up to $200 without insurance.
• We expect these strategies to pay off: Insider Intelligence predicts the number of retail clinic patients at places like CVS and Walmart will rise from 63 million in 2020 to 69.5 million in 2022.

Already struggling providers could thwart off the threat of retail clinics by enhancing their payments strategy—a top patient pain point.

• Over 56% of consumers said they’d consider switching providers for a better payment experience, per a March 2021 survey by J.P. Morgan’s healthcare company, InstaMed.
• And 86% of consumers want to know their payment responsibility prior to beginning a doctors’ visit. Some traditional practices are already taking note of this consumer demand by teaming up with companies like Cedar and Waystar, which offer digital pre-visit patient platforms detailing personalized pre-visit costs and digital payment options.