In 2017, CNBC projected that Medicare and Medicaid costs will more than double by 2020, thanks to baby boomers who are retiring at an impressive rate of 10,000 men and women a day. Is the healthcare system ready? Not quite. As an AARP report notes, “The U.S. stands out for the high cost of healthcare and its failure to generate better health outcomes.” Since healthcare costs tend to climb as people age, we’re facing a potential financial crisis—unless healthcare providers focus on improving baby boomer health outcomes.Read More
Insights on Today's Healthcare Consumer
“The current system is broken. We need to move towards an era of disease prevention and personalized medicine,” writes Dr. Emmanuel Fombu in his book The Future of Healthcare: Humans and Machines Partnering for Better Outcomes. He’s not alone in this assessment.Read More
The United States outspends other nations when it comes to healthcare—to the tune of $3.3 trillion or nearly 18 percent of GDP in 2016. The growing price tag for Americans’ healthcare isn’t down to demographics alone. Certainly, the aging baby boomer population is increasing utilization and consequently spending. But healthcare organizations recognize that improving health outcomes play an important role in bringing down costs.Read More
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?Read More
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.Read More
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.Read More
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.Read More
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.Read More
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.Read More
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.Read More