Over the past 15 years, studies have indicated how different America will look in the future — in 2020, 2040, 2050 and beyond. However, the United States isn’t on the brink of change. It has indeed already changed well beyond demographics, and the cultural shift that we are now witnessing will continue as a defining part of the landscape and future of the nation.
A new wave of consumers is quickly becoming the most powerful economic force in retail, and it is causing every company — retailer and supplier alike — to think differently about how they engage, market and build relationships with this new generation.
E-cards may be grabbing share from traditional cards, but consumers who purchase paper cards are gravitating toward higher-priced products. Greeting cards that feature such technological elements as recording features and LED lights, cards from recycled materials and specialty cards, such as those featuring decorative elements, will continue to buoy profit margins in the category.
While the first retail clinics began to enter chronic disease management going back as early as 2010, these efforts have been ramped up considerably in recent years as payers look more aggressively to lower costs and health systems look to drive improved patient outcomes.
“Average telehealth costs are $40 to $50 compared to $136 to $176 for a related in-person visit, while the most common diagnoses made during telehealth visits are sinusitis, cold, flu, pertussis and urinary tract infections,” according to the Robert Wood Johnson Foundation April 2015 report, “Building a culture of health: The value proposition.”
According to research conducted by Rand Corp., retail clinic traffic doubled each year between 2007 and 2009, to 6 million patient visits a year. Since then, the number has risen to more than 10.5 million in 2014 and rising, according to various estimates.
With the expansion of coverage to millions of more Americans in the years since the Affordable Care Act was fully implemented, access to care is becoming more strained than ever before, seemingly creating more interest among payers, insurers, health systems and patients in the use of retail clinics.
TruTag Technologies is looking to impact the food and drug industry with its edible security platform. “TruTags,” the company's microtags, can help to authenticate products without packaging or labels. DSN recently spoke with Kent Mansfield, president of TruTag Technologies.