The Edge - Volume One

Consumer preferences vary significantly depending on the age of the patient. The Advisory Board Company, a highly regarded healthcare consultancy and advisory firm, surveyed thousands of consumers across the U.S. and found the following key distinctions in consumer preferences by age and type of care required. The type and cost of care typically provided in urgent care centers, specifically a desire for free visits, topped the list for consumers in both the 18 to 29 and 30 to 49 age demographics. Patients in the 50 to 64 age group prioritized access and convenience over price for this type of service, and those over 65 generally seek provider continuity and quality over other features such as price or convenience. Patients in the 18 to 29 demographic are more likely to shop online to find a specialist of their choosing, while those in older age demographics were much more likely to adhere to referrals provided by their primary care provider or other trusted physician. ON-DEMAND PRIMARY CARE TELEHEALTH SERVICES Known in healthcare parlance as “virtual visits,” high numbers of each age group indicated that they’d consider a virtual visit if inpatient care was unavailable the day they seek an appointment. The 30 to 49 age group was most receptive to telehealth. SPECIALTY PHYSICIAN CARE

The pulse on healthcare consumerism

Even if you don’t track healthcare statistics, you’ve likely felt it. Beginning as a trickle, healthcare consumerism is now becoming a torrent that is reshaping the healthcare industry.

WHAT IS HEALTHCARE CONSUMERISM?

Healthcare consumerism is a movement advocating patients’ involvement in their health care

Presently, access to information regarding the quality of care or its costs is often not readily available to patients, which complicates their ability to make informed choices about their treatment, regardless of their preferences. Also, measuring consumers’ preferences and how they might affect healthcare buying patterns remains elusive. A 2016 study by McKinsey & Co. noted significant disconnections between what healthcare consumers say is most important to them in regards to healthcare choices and what correlates with their actual satisfaction levels. A one-size-fits-all consumer strategy is unlikely to meet the diverse needs of most existing healthcare providers’ patients. Instead, successful strategies for organizations require careful analysis of both their existing patient base and their preferences for receiving and paying for care, as well as the healthcare providers’ goals – clinical, operational and financial.

decisions – a transformation from the “doctor-says-patient-does” model to a two-way partnership. The movement encourages health information empowerment and knowledge transfer so patients can be informed and engaged in the decision-making process about the kind of doctor they visit, the treatment they receive and how much they pay. Healthcare consumerism is being shaped by several industry-specific features that impede and redirect its force. For starters, the presence of public or private payers between patients and medical providers distorts the price/value decision-making process typical in most consumer markets. Buying healthcare is not the same as buying groceries or a car, nor is it similar to seeking service expertise, such as financial planning advice.

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