Here’s why higher consumer trust in physicians this year could boost CVS’ retail clinic strategy

The data: Most physicians believe the future of care delivery relies on better care coordination with patients’ other providers.

• 68% of physicians say coordinating with other providers had a high to moderate impact on their ability to achieve desired health outcomes for their patients, per CVS’ new 2022 Health Care Insights Study surveying 600 consumers and 400 healthcare providers.
• And 64% of physicians said offering patients access to other healthcare professionals to help coordinate care had a high to moderate impact on health outcomes.

Digging into the data: Beyond care coordination, higher consumer trust in physicians this year could be motivating people to access care more regularly.

• This year, 59% of consumers said their primary care physician was the most-trusted healthcare provider, per CVS’ report.
• That's up 10% since 2021—when only 49% of consumers said physicians were the most trusted provider.
• Heightened trust in physicians is linked to higher-quality care, according to 55% of consumers.

The bigger picture: Higher levels of trust in physicians is good news for CVS. Its new healthcare strategy relies on physicians to power full-scale clinics combining virtual/in-person primary care.

CVS announced plans to close nearly 10% of its US locations throughout the next few years as it converts remaining stores to primary care-like offices that include services like diagnostic testing, mental health care, and hearing exams.

More consumer trust in physicians could mean a boost in business for CVS since its clinics will be primarily physician-led, unlike competitors like Walmart (which are mainly staffed with nurse practitioners). Plus, CVS physicians are in a prime position to coordinate care with patients’ other providers to increase health outcomes. CVS could coordinate care with its pharmacists—or even tap its new virtual care offering (CVS Health Virtual Primary Care) to offer care with telehealth providers.