I recently read an article in the July/August issue of “Fast Company” regarding the new concepts and direction that a division of Walgreen’s is taking in health care. Hal Rosenbluth and Peter Miller head up a newer division of Walgreen’s called Walgreens Health And Wellness. They are on a mission to put full scale health clinics in nearly every Walgreen’s around the country. These clinics will offer health-care at affordable prices (even for cash customers, no insurance!). How can they do this you ask? They have developed a business model that takes care of an obvious marketplace need, as the definition of entrepreneurship tells them to!
With all the hubbub around health care, it appears they have little, if any, competition for the time being. Besides being economical, it is also convenient as Walgreen’s works towards its “corner store” appeal and locale. Many Americans have a Walgreen’s within a few miles and now a health clinic, pharmacy, and more all in one place. The clinics goals are not only to be profitable as a stand alone business unit but will also bring in additional revenue on prescriptions as patients will conveniently fill their prescriptions as they are received. Prescriptions already makeup a huge percentage of Walgreen’s revenue and this appears to only enhance that even further.
And the beauty of all this? I don’t have to pay for it by being robbed through taxes!! No government bureaucracy to waste money and likely run a second-class establishment with ridiculous wait times and mis-diagnosese.
If the government would chill on the health care gig and give it a few years of development, likely we would see competition crop up for Walgreen’s (say Walmart or others?) and begin seeing improved facilities and services with even lower prices as they compete for our business. Again, Entrepreneurship is the answer!
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