Pharmacies and Retail Clinics have Billion Dollar Opportunity - North Highland has the Solution
February 25, 2014
North Highland, a global consulting firm, along with its marketing services division, Sparks Grove, has capabilities to help pharmacies and retail clinics realize new revenue growth with the passage of the Patient Protection and Affordable Care Act (ACA).
"With prescriptions and clinic visits in mind, capturing just 10 percent of the newly insured could earn organizations $825 million in revenues in year one alone," said Fletcher Lance, National Healthcare Leader for North Highland and vice president. "The challenge for these retailers is to move quickly - strategizing now and implementing those strategies as soon as possible. The most nimble organizations will be those who see the greatest benefit."
The ACA is estimated to bring 30 million Americans into the healthcare sector through the individual mandate requiring most people to have health insurance.
"To serve this unique opportunity, we will bridge many of our capabilities from North Highland's healthcare, life sciences and retail practices," said Elizabeth Ebert, North Highland's Retail Solutions Experts. "Our solution is holistic, and encompasses business intelligence, information technology, operations, marketing and customer experience to provide end-to-end success."
For more information about North Highland's capabilities, read our latest perspective or contact one of the team members.
Dr. Ricardo Martinez
Sparks Grove, the marketing strategy and creative division of North Highland, delivers clients fresh ideas that invigorate their brands and resolve pressing business challenges. Sparks Grove provides marketing, visioning and visualization, emerging interactions, and communication services to many of the world’s leading brands. For more information, visit sparksgrove.com or follow @sparksgrove and facebook.com/sparksgrove.
About North Highland
North Highland is a global management consulting firm known for helping clients solve their most complex challenges related to customer experience, transformation, performance improvement, and technology and digital. We add value and support our clients across the full spectrum of consulting, from strategy through delivery. We bring the big ideas, then we make them real. North Highland is an employee-owned firm, headquartered in Atlanta, Ga., with more than 3,000 consultants worldwide and 60+ offices around the globe, and has been named as a “Best Firm to Work For” every year since 2007 by Consulting Magazine. The firm is a member of Cordence Worldwide (www.cordenceworldwide.com), a global management consulting alliance. For more information, visit northhighland.com and connect with us on LinkedIn, Twitter and Facebook.
Building Personal Retail Experiences for an Audience of One
Throughout this report are results from a North Highland-sponsored survey of more than 200 director-level and higher employees with leadership responsibilities in customer experience at global companies with revenues more than $1/£1 billion conducted in October 2017. The results define three foundational steps toward creating a personal connection in mass retail and an assessment to guide leaders toward personal connection approaches likely to generate the greatest impact and ROI.Perspective