By Megan Moyer, senior marketing communications specialist, for the Home Health Care Opportunity blog series
My last post provided ideas of how to add home health care (HHC) to your front-end regardless of space issues you may have. In this post I’ll clarify which categories and/or products I’m including when referring to home health care and detail the remaining topics in the series. But first, here is perhaps more reason to give careful consideration to adding HHC to your pharmacy.
I recently came across this statistic in a news release from Zion Research from a report they published in January 2017: “…the global demand for home healthcare market was valued at USD 228.90 billion in 2015 and is expected to generate revenue of USD 391.41 billion by 2021, growing at a CAGR of 9.40% between 2016 and 2021.” If my first post about the HHC opportunity didn’t move you to contemplate adding it to your store, that number might change your mind.
Now, that revenue number refers to both “the market and services.” As I talk about home health care in this blog series I’m referring to primarily products. Home health
care does span a wide range of products which is another reason it can seem overwhelming. My guide is our Fine Line classification system and I consider these four categories to encompass what a person recovering or treating a condition at home may use: Home Health Care, Incontinence, Patient Skin Care, and Home Diagnostics & Aids for Daily Living. Within the HHC category alone there are 22 subcategories that range from ostomy care to respiratory therapy to bathroom safety. It’s a broad grouping inclusive of a lot of different products. You can download a copy of our Fine Lines here on our website. The categories mentioned above start on page 39.
Okay, I think all the groundwork has been laid; are you ready to start determining what products make sense for you to carry and how to set yourself up for success in home health care? The series will resume in January, and the remaining blog posts will cover these points of consideration in this order:
- Who is my home health care competition?
- Do my current patients need home health care products?
- How much space do I need to display home health care products?
- Should I offer specialty services?
- Do I need to invest in staff development?
- How will I build my home health care business?
In the meantime, we’ll publish plenty of other blog posts to help you with other aspects of your business. Want them delivered straight to your inbox?