Today’s healthcare consumer demands facilites and
services offering a retail-like experience.
Across the healthcare industry, changes in payment models, technology and patient preferences are requiring swift and disruptive action by provider, payer, and life science organizations alike. Perhaps nowhere is this more profound than the need to capture the mindset of patients who are adopting consumer-like behavior.
With the vast increase in the number of high deductible plans in both the individual and group markets, greater out-of-pocket costs, a higher percentage of government-sponsored plans with an emphasis on value-based care, an aging and sicker population, and industry consolidation leading to intense local competition, the healthcare industry is struggling to keep up.
In times of disruption, new business models emerge, blurring the lines between payers and providers and as new entrants establish themselves in the market. Despite these changes, there is an opportunity to take lessons from those who have been there and have set the bar for where the healthcare industry is headed.
Ultimately, healthcare patients covet a retail experience.
PATIENT ACCESS POINTS
SATISFACTION SCORES BY CARE TYPE
Much attention has been given by retailers to the millennials and digital natives, especially in the areas of digital marketing and online shopping. Technology adoption is not limited to only the younger generations. Pew Research shows that 59% of adults 65 or older go online and 47% have high-speed internet connections. Additionally, 77% of adults over 65 also have mobile phones. This shows that the aging population is also adopting internet and mobile technology.
Regarding patient experience and evolving preferences for care, more than four in five respondents younger than 35 said they embraced care provided via virtual marketplaces. All respondents under the age of 45 identify digital as their preferred means of engagement to manage their health, outranking traditional facility visits or phone calls.
For successful implementation, innovative healthcare organizations ensure sufficient resources are allocated to change management, EMR interoperability, and workflow integration, and evaluate the scope of services provided based on their own merits.
The path of many retail brands has been bumpy over the last 15 years, adapting to a significantly different consumer and marketplace. The companies that have succeeded understand opportunities for brand engagement with their customers and have invested in new processes and technologies to deliver personalized experiences and maximize the profitability of the physical space by optimizing their operations and integrating physical and virtual marketplaces. Healthcare is facing similar expectations for their patients and can utilize these retail lessons to deliver a better consumer experience.