MinuteClinic has emerged as the U.S. leader in retail-based health clinics since its launch in 2000, and we purchased the company in 2006. With our pharmacy accounting for 70 percent of CVS store sales, the combination makes a lot of sense. For starters, MinuteClinic allows us to broaden the role CVS plays as a provider of healthcare services. Furthermore, our research shows that these clinics drive more traffic to our stores. Approximately 25 percent of MinuteClinic patients are new CVS/pharmacy customers.
Its clinicians - primarily nurse practitioners and physician's assistants - have handled more than 750,000 patient visits to date. By focusing on a limited number of ailments that can be addressed quickly, MinuteClinics provide an ideal solution for professionals and parents with busy schedules. They are open seven days a week and do not require appointments. Moreover, visitors can scan a list of services and prices prior to treatment. For illnesses MinuteClinic doesn't treat, the clinicians refer patients to their family doctor or provide a list of primary care physicians in the area for those who need them.
Competitive pricing also means that we at CVS are doing our part to lower the overall cost of healthcare for insurance plans and self-insured employers. In fact, some large U.S. companies now recognize the value of having MinuteClinics right on site, making it easier for employees to access care and helping employers boost productivity. We expect this trend to accelerate and contribute to the growth of MinuteClinic in the coming years.
