The 5 Advantages of eCommerce in Healthcare

As eCommerce drives sweeping, fundamental changes in retail, one sector remains relatively untapped. According to Forbes, the online healthcare sector is eCommerce’s final frontier, replete with a growth opportunity that’s driven by convenience, lower costs, and access to products. But it won’t stay that way for much longer. Already, we’re seeing savvy companies adopting the latest solutions and strategies to get a head start on the competition.

In this piece, we share the advantages of establishing eCommerce for your healthcare business:

More products at lower prices

More vendors mean more stock, which gives the customer a greater range of products to compare costs against. Not only does this deeper catalog result in lower prices due to competition between online suppliers, but it also places the purchasing power in the hands of the buyer. This means online stores are more likely to offer specials and promotions such as free delivery or bulk order discounts. Moreover, online retailers are able to charge less because managing an eCommerce store is far cheaper than running a traditional brick and mortar shop.

More help for patients, less strain on professionals

Understaffing and low stock continue to place strain on medical facilities and professionals. But the ‘e’ in eCommerce could arguably stand for ‘efficiency’, as we’re starting to see how it is somewhat alleviating that strain. Non-critical patients who don’t require the immediate attention of doctors or hospital staff can now be diverted to online healthcare portals so that those who require immediate intervention can be assisted more quickly.

Better security for patient privacy and information

As with any online transfer of private information, processes need to be in place to ensure sensitive data are safe. This has galvanized both eCommerce vendors and healthcare professionals to collaborate more closely and better safeguard sensitive data from potential bad actors. While there is still much work to be done, it’s a giant step in the right direction.

Ease of access

Healthcare eCommerce is revolutionizing the way people purchase products. With it, the internet is fast becoming an always-on pharmacy with a depth of stock that would have been considered impossible just a few years ago. Because clients have the power to purchase these days, we’re seeing a significant improvement in customer service: 

• Certain vendors have taken the initiative and now deliver direct to patients’ doors, fast and hassle-free 
• With Live Chat, healthcare professionals guide and educate patients online, in real-time
• Mobile apps connect customers with the power of eCommerce at all times.

eCommerce is bringing the industry closer together

Digital transformation is creating a stronger, more collaborative healthcare sector. Events such as the eCommerce & Digital Strategies Conference connect healthcare professionals from across the country in order to improve our industry and deliver better care to patients. Learn more about the event, its itinerary, and the host of specialists that will be imparting their knowledge here.

Jan Beery of KBK Communications and Daryn Smith from MPULL were in attendance and presented about Managing Channel Conflict Through A Strong eCommerce Strategy, which will touch on the following points:

• How the rise of eCommerce has transformed channel relationships and increased conflict between manufacturers, distributors, and other trading partners
• Why it’s critical to develop your eCommerce strategy and your channel strategy in tandem, identifying and addressing potential conflict areas
• What specific steps you can take to build a strong digital strategy that allows you to collaborate effectively with your partners and grow your business

The day was filled meeting and collaborating with the industry’s thought-leaders and decision-makers and sharing our marketing insight with our peers.

If you’d like to connect or have any questions, please get in touch.