A call to action
To meet the demands of millennials and other young adults, healthcare providers should start by asking a vital question: Why will consumers choose you, and why will they come back to you?
This requires healthcare leaders to make a fundamental shift in mindset. Healthcare organizations need to transition from an internal, provider-centric business model, to an external focus on capturing consumer “demand” to drive new patient growth and increase patient loyalty.
As a first step, healthcare leaders should assess their organizations’ current capabilities and resources, and compare those to what is needed to transform their services, culture, and care delivery models. Serving Millennials and other young adults requires intense focus on four core elements:
Access– It’s all about the digital front door and providing the 24/7 on-demand access millennials are accustomed to in other areas of their lives. The key focus should be on redefining an organization’s primary/routine care business model
Experience– Providers need to offer a contemporary experience, including high levels of service and real-time consumer feedback opportunities
Pricing– Organizations must recognize that Millennials are highly price-sensitive and expect to find reliable and accurate pricing information online easily
Infrastructure– Organizations should build a solid foundation of insights and analytics to fuel decisions about access, experience, and pricing
Millennials no longer are “the future”. They are here and driving real healthcare change today.
Ultimately, the battle for healthcare’s future will center on routine, outpatient care for millennials and other young adults. To stay relevant, healthcare organizations need to understand and refocus on these younger generations. They must break away from traditional delivery models that emphasize the needs of consumers past, and push forward in the race to meet the demands of consumers now and into the future.
About the authors: Paul Crnkovich is a managing director and head of the consumerism practice at Kaufman Hall, and Dan Clarin is a senior vice president with the firm’s strategic and financial planning practice.
Access the full report,
How Millennials Are Reshaping Healthcare’s Future
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