Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)

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Analysis of the Applicability of the CVS Business Model in the Medical Retail Industry in China

Authors
Qingying Gao1, *
1The University of Michigan, 48104, Ann Arbor, US
*Corresponding author.
Corresponding Author
Qingying Gao
Available Online 27 December 2022.
DOI
10.2991/978-94-6463-098-5_132How to use a DOI?
Keywords
oligopolies; operating models; healthcare; retail; US and China
Abstract

CVS is the United States of America's medical retail industry oligarchy distributed in large and small cities in the United States. The rapid development of CVS over the decades since its inception has brought convenience to Americans and has led us to consider whether the Chinese medical retail industry can follow such a model. This paper analyzes the Chinese and American healthcare systems and business models through case studies and comparative analysis and finds that the oligopoly model of CVS does not apply to the complex healthcare market in China. Patients will have access to more precise treatment options when they repurchase because of CVS's extensive national medical records, which also include the diagnostic findings and prescription medicine information from MinuteClinic. Patients would be able to promptly inform their doctors about their particular health conditions when they repurchase prescriptions if there were such a national medical record. Such a method and model could increase the effectiveness of doctors in a nation like China, which has a large patient population. Patients will be able to access more swiftly because of the large national chain and the dense concentration of pharmacies in the city. Oligopolies like CVS are unable to expand in China due to the disparate healthcare systems and healthcare retail profiles between the U.S. and China, but people can also learn from the advantages and disadvantages of the CVS operating model to better create a distinct healthcare retail sector for China.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
27 December 2022
ISBN
10.2991/978-94-6463-098-5_132
ISSN
2352-5428
DOI
10.2991/978-94-6463-098-5_132How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Qingying Gao
PY  - 2022
DA  - 2022/12/27
TI  - Analysis of the Applicability of the CVS Business Model in the Medical Retail Industry in China
BT  - Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
PB  - Atlantis Press
SP  - 1170
EP  - 1177
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-098-5_132
DO  - 10.2991/978-94-6463-098-5_132
ID  - Gao2022
ER  -