More than a decade ago, The New England Journal of Medicine (NEJM) reported that “Health is influenced by factors in five domains—genetics, social circumstances, environmental exposures, behavioral patterns and healthcare.” In the ensuing years, the adoption of technology, shift from volume- to value-based care, and rise of healthcare consumerism have begun to transform healthcare in America.Read More
Insights on Today's Healthcare Consumer
Sometimes brand loyalty is easy to recognize. Check out the lines of Marvel film fanatics on opening night. Talk to an Apple aficionado or a Disney devotee. Of course, those brands have an instant advantage over healthcare organizations because—let’s face it—most people don’t have the same kind of positive associations with healthcare experiences as they do with a trip to the ‘Happiest Place on Earth.’ As a result, hospitals and other healthcare providers need to up their game when it comes to patient engagement and measuring patient loyalty.Read More
Positive patient experiences have been called the ‘Holy Grail’ of healthcare—and for a good reason. “Today, patients have more care options than ever before,” writes Holly Ragan in D CEO Healthcare. “And with non-traditional providers coming out of the woodwork, healthcare systems are in need of new approaches to create patient experiences that are second to none.”
So, why the focus on patient experiences? Because each interaction has the potential to build or bulldoze patient loyalty.Read More
All too often, hospitals and medical practices rely on sterile healthcare marketing campaigns. Some highlight cutting-edge technology or specialist expertise—which is good for potential patients to know, of course, but not terribly inspiring. Others take a one-size-fits-all approach—based on demographics or a shared diagnosis, for example—that fails to deliver the desired engagement.
These tactics may have worked in the past, but today’s healthcare consumers have different expectations. It’s time to get personal.Read More
Up to 77 percent of consumers are interested in telemedicine, yet fewer than 20 percent have actually done so. From the provider side, the main roadblock has been a lack of reimbursement for virtual care.Read More
What is the most costly health condition in America? According to the U.S. Centers for Disease Control and Prevention (CDC), it’s heart disease. The organization estimates that poor cardiovascular health outcomes cost the country more than $200 billion annually due to necessary medications, healthcare services and lost productivity. What’s even more troubling, reports the American Heart Association, is that heart disease rates are increasing in the United States, even as they decline globally.Read More
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.
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.Read More
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
“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