Insights on Today's Healthcare Consumer

Why Some Patients Don’t Pay Their Bills — and How Psychographic Segmentation Can Help

Posted by Brent Walker on Tue, Feb 19, 2019

Nearly 43 million Americans face medical debt­, but are they all uninsured? Not quite. One in five patients with health insurance admit that medical bills put a strain on their finances. This data is close to what c2b solutions’ market research study illustrates with 27 percent of the general population agreeing with the statement “I have a hard time paying my healthcare bills”.

These aren’t the sickest patients either. Nearly 70 percent of patients struggle to pay off hospital bills of $500 or less within a year and the challenge isn’t going away. The Centers for Medicare & Medicaid Services projects national health spending will grow by 5.5 percent annually for the foreseeable future, reaching a staggering $5.7 trillion by 2026. But by using psychographic segmentation to gain insights on healthcare consumers, hospitals can boost patient payment collections even as healthcare costs continue to grow.

 

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Tags: Psychographic Segmentation, Automated Payment Reminders, Revenue Cycle Management, patient payment collections, amplify engagement

3 Tips for Improving Health Outcomes of Millennials in 2019

Posted by Brent Walker on Tue, Jan 29, 2019

 

 

While the aging baby boomer population still dominates healthcare utilization, this cohort is shrinking, having peaked at 78.8 million in 1999. Meanwhile, millennials currently outnumber baby boomers by approximately 11 million—and their numbers won’t be on the decline anytime soon. No surprise, then, that millennials are a hot topic across the healthcare industry.

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Tags: Psychographic Segmentation, millennial health, health outcomes, amplify engagement

Why Psychographics are Key to Solving Open Enrollment Challenges

Posted by Brent Walker on Tue, Oct 30, 2018

The Centers for Medicare and Medicaid Services (CMS) announced steady enrollment through the Federal Health Insurance Exchange for 2019, with 8.4 million people selecting or automatically re-enrolling in plans by the close of the open enrollment period. Final numbers are expected to rise when the CMS releases additional data on enrollments through State-based exchanges. But if past years are any indication, approximately 10 percent of those consumers will lose coverage by failing to pay their premiums. How can insurance companies address this crucial revenue cycle management issue?

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Tags: Psychographic Segmentation, Automated Payment Reminders, Revenue Cycle Management, patient payment collections

How Market Research and Consumer Insights Are Being Used to Improve Health Outcomes

Posted by Brent Walker on Thu, Sep 27, 2018

Kaiser Family Foundation research on healthcare spending and health outcomes reveals that Americans have higher disease rates and shorter life expectancies than healthcare consumers in other wealthy nations. KFF says, “Unfortunately, ranked with other comparable countries, the U.S. has the highest rate of deaths that are preventable by good healthcare.”

Since the U.S. spends more on healthcare than comparable countries, throwing money at the problem won’t solve it—and neither will the status quo.

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Tags: Patient Engagement, Psychographic Segmentation, health outcomes

McKinsey’s Consumer Health Insights Survey: Key Takeaways That Could Help Improve Outcomes

Posted by Brent Walker on Thu, Sep 20, 2018

Healthcare is personal. Patients are sharing private details with relative strangers and engaging in myriad one-to-one interactions with physicians, pharmacists and insurers along their journey through the healthcare landscape.

Despite the intimacy of these situations, however, healthcare consumer experiences are often seen as depersonalized and disconnected—which certainly won’t drive the patient engagement needed to improve health outcomes.

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Tags: Patient Engagement, Healthcare Consumerism, Psychographic Segmentation, health outcomes

Data Uses that Dictate Health Outcomes for Your Patients

Posted by Brent Walker on Wed, Aug 29, 2018

Several years ago, population health expert David B. Nash, MD, said, “The most important five-digit number I need to predict your health status and well-being is your ZIP code, bar none.” Is it hyperbole to suggest that where a healthcare consumer lives is a determining factor in health outcomes?  

Not according to the expert panelists this year’s South by Southwest (SXSW) conference in Austin. During the hour-long session, “Your Zip Code: The Key to Health,” Jay Bhatt of the American Hospital Association, Eric Gertler of US News & World Report, Garth Graham of the Aetna Foundation and Kavita Patel of the Brookings Institution & Johns Hopkins Medicine Sibley Primary Care confirmed that a person’s zip code can be just as predictive of health as genetics.

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Tags: Patient Engagement, Psychographic Segmentation, health outcomes

Health Data Insights You Need to Improve Patient Outcomes

Posted by Brent Walker on Wed, Aug 15, 2018

The increasingly digital world allows for increasingly personalized tactics for engaging consumers—whether they are potential retail customers or healthcare patients. The mountains of data available offer transformative potential when organizations unearth meaningful insights into individual customers’ needs and expectations.

As your hospital or healthcare organization works to connect with modern healthcare consumers to drive better health outcomes, you can learn from leading customer-centric organizations—regardless of the industry and consumers that they serve—to  pinpoint the types of health data insights you should be collecting about your patients.

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Tags: Patient Engagement, Psychographic Segmentation, health outcomes

Inspired by HBR: How Psychographic Segmentation Boosts Patient Loyalty

Posted by Brent Walker on Wed, Jul 25, 2018

Have you noticed the latest Snickers advertising campaign? The brand is introducing new flavors aligned with personality traits. Indecisive? Choose Snickers Salty & Sweet. Irritable? Try Snickers Espresso for a quick boost. Wimpy? Spice up your attitude with a Snickers Fiery.

The campaign just started in June, so its effectiveness remains to be seen, but the behavioral science behind the marketing is sound. And for hospitals, specialist clinics, medical practices, and other healthcare-related organizations, the use of psychographic segmentation—classifying consumers based on how they think, feel, and act—can help strengthen patient loyalty in healthcare.

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Tags: Psychographic Segmentation, patient loyalty in healthcare

What Drives Patient Loyalty in Healthcare?

Posted by Brent Walker on Wed, Jul 18, 2018

Asked about Apple's interest in healthcare during an interview with Fortune, CEO Tim Cook was clear: “We're extremely interested in this area. And yes, it is a business opportunity. If you look at it, medical health activity is the largest or second-largest component of the economy, depending on which country in the world you're dealing with.” He concluded by saying, “I do think it's a big area for Apple's future.”

Does that make you nervous? With consumer loyalty leaders like Apple, Amazon and Google announcing forays into the healthcare space, organizations from hospital systems to primary care practices are under pressure to step up their game when it comes to patient loyalty in healthcare.

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Tags: Psychographic Segmentation, patient loyalty in healthcare

How Psychographic Segmentation Can Help You Acquire New Patients

Posted by Brent Walker on Wed, Jun 27, 2018

Have you noticed the latest Snickers advertising campaign? The brand is introducing new flavors aligned with personality traits. Indecisive? Choose Snickers Salty & Sweet. Irritable? Try Snickers Espresso for a quick boost. Wimpy? Spice up your attitude with a Snickers Fiery.

The campaign just started in June, so its effectiveness remains to be seen, but the behavioral science behind the marketing is sound. And for hospitals, specialist clinics, medical practices, and other healthcare-related organizations, the use of psychographic segmentation—classifying consumers based on how they think, feel, and act—can help strengthen patient loyalty in healthcare.

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Tags: Psychographic Segmentation, patient acquisition

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