“Traditional healthcare providers are facing unprecedented competitive challenges, but by adapting to millennials’ expectations for transparency and convenience, health systems and hospitals have the opportunity to retain patient relationships and attract new business from the growing segment of the population who are avoiding care because of the cost.”
Millennials are turning the traditional healthcare delivery model on its head. Soon to be America’s largest generation, this powerfully influential group has grown up in a technology-powered consumer environment where transparency, rapid delivery and convenience are the norm. They’re now transferring these expectations to the healthcare industry with profound implications for healthcare providers and care outcomes.
But that’s not all. Millennial behavior also reflects consumers’ growing tendency to avoid or delay care because of concerns about cost. According to a West Health survey whose results were published earlier this year, 44 percent of patients skipped necessary medical care because of costs. Other studies like this CarePayment 20-20 study reported by Becker’s Healthcare show care avoidance as much higher – a staggering 64 percent. A potential outcome of these converging trends are higher healthcare costs for all and poorer healthcare outcomes for the Millennials.
Born between 1981 and 1996, this tech savvy generation of 75 million is about to overtake boomers as America’s largest generation. In a recent Becker’s Healthcare article, highlighting a report from Kaiser Health News, on the results of a recent patient survey, Kaiser noted that “there was a pronounced difference among age groups: 45 percent of 18- to 29-year olds had no primary-care provider, compared with 28 percent of those 30 to 49. 18 percent of those 50-64 and 12 percent for people aged 65 and older”.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
