Primary Care has Been Evolving for Years; Expect M&A and Partnerships as the Market Heats Up

primary care

The pandemic may have taught Americans more about the potential of primary care than anything they’d experienced in an exam room in the past, MarketWatch reports.

Think about it: We learned how to take COVID-19 tests in the privacy of our own homes and sought out care in nontraditional settings like retail chains. We’ve become comfortable enough with telehealth that it made up about 13% of all primary care at the end of 2021. (Virtual primary care constituted 1% of visits in 2018.) All of this showed the public ⁠— and investors ⁠— that making primary care easier to access is widely beneficial.

“The pandemic was a forcing function for innovative care-delivery models out of necessity,” said Dr. Erin Ney, an internist and an expert associate partner at Bain & Co.

Corporations have for years been pouring billions of dollars into primary care. CVS Health is now the largest provider of retail health services in the country. Humana and the private-equity firm Welsh, Carson, Anderson & Stowe this year put an additional $1.2 billion into a venture that plans to develop 100 primary-care clinics for seniors. Read more.

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