Competition is heating up among healthcare retailers to provide services for the rapidly swelling senior population. According to the US Census Bureau, roughly 1 in 5 people in the US will be age 65 or older by 2030. As the population ages, healthcare providers see the potential cost-saving benefits of changing care delivery for seniors who are living longer but managing chronic conditions. Retail providers are stepping in where traditional healthcare has failed, working to develop holistic care plans in lower-cost settings to prevent acute illnesses. Big retail players such as CVS, Walgreens, Walmart and Kroger want in. They are paying billions of dollars to scoop up senior-focused primary care operations or forming their own to attract a population with whom they see the biggest returns. The strategy, supported by retail brand recognition, involves aggressive plans for clinical expansion and increased investment in value-based health plans. [Modern Healthcare, December 2023]
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