... "Seventy-fourpercent of millennials prefer booking appointments and paying their medical bills online"...
Born between 1981 and 1996, the tech-savvy millennial generation of 75 million people is about to overtake baby boomers as America's largest age demographic (Evans, 2018). It is important to know what they think when it comes to making healthcare decisions. Are we encouraging them to choose chiropractic, or are we inadvertently pushing them away?
It's also important to remember that 54% of millennials typically check online ratings before seeing a new provider (PNC Healthcare, 2015). Asking patients to post reviews on sites such as Google, Facebook, and Yelp is necessary to attract millennial patients. If you don't have a social strategy in place, you're missing an opportunity to help shape your online reputation.
Once they've decided to visit your office, millennials expect prompt service and want to see that you use modern technology to avoid delays. Seventy-four percent of millennials prefer booking appointments and paying their medical bills online (Salesforce Research, 2017). Millennials show a preference for interactive online portals similar to the consumer-grade interfaces they utilize in other areas of their lives. However, they are less likely to engage with mobile health unless it's easy, personal, and secure. They want reminder text messages, personalized healthcare offers, and notifications customized to their wants and needs. Millennials are also big fans of telehealth. They constitute a driving force in the growing number of new users each year because of a combination of time and cost savings.
Shorter wait times and WiFi are additional ways to keep them happy. Ninety-two percent of millennials will switch healthcare providers if they're not completely satisfied, and more than 60% will share their experience with friends and family when you have failed to meet their expectations. It should come as no surprise that one of their biggest complaints about health care is wait times (West, 2017).
Naturally, their biggest concern about health care is cost. Millennials are very cost-conscious and believe what they spend their money on matters. According to Northwestern Mutual, millennials carry an average of $42,000 worth of debt, mainly from credit cards and high-interest student loans (Northwestern Mutual, 2018). A study from Manpower Group found that millennials are working harder than other generations, putting in more than 45 hours per week, with 21% taking on another job to make ends meet (Manpower Group, 2016). The combination of rising debt and more hours at work means that more millennials are skipping or delaying their own care due to the cost.
A survey published in early 2018 stated that 44% of patients skipped care because of costs, while another study showed that number was as high as 64% (West Health Institute, 2018). Of those who do seek care, 41% are willing to ask for cost estimates before agreeing to treatment, and 57% check their health plans to verify coverage. Affordable payment options are necessary for this generation. Using a Discount Medical Plan Organization (DMPO) is one of the simplest ways to keep care affordable for your patients, remain compliant with state and federal guidelines, and be a profitable business owner.
Patients will continue to drive trends in health care. To stay competitive, we need to be aware of all resources available to provide convenient and affordable care options for our patients. So, stop waiting for the perfect time (hint: it's now!) and jump on social media to let your patients know what you're doing to make care easier and more budget-friendly in your community!
Kristi Hudson is a certified professional compliance officer (CPCO). She serves as the Director of Business Relationships for ChiroHealthUSA where she has helped to educate DCs and CAs on establishing simple and compliant financial policies. You can contact Kristi at 888-719-9990 or Kristi @ch i rohealth usa .com, or you can visit the ChiroHealthUSA website at www.chirohealthusa.com.
References
1. Evans, M. (2018, 11 27). Millennial Expectations Are Fundamentally Changing The Healthcare Landscape. Retrieved from Forbes: https://www.forbes.com/ sites/a 11 business/2018/11/27/m illennial-expectations-fundamental! y-changing-healthca re-landscape/#6147011d7fe5
2. Manpower Group. (2016). Millennial Careers: 2020 Vision. Manpower Group.
3. Northwestern Mutual. (2018). Planning & Progress Study: Millennials. Northwestern Mutual.
4. PNC Healthcare. (2015, 03 23). Five Ways Tech-Savvy Millennials Alter Health Care Landscape. Retrieved from PR Newswire: https:// www.prnewswire.com/news-releas... Ilennials-alter-health-care-landsea pe-300054028.htm I
5. Salesforce Research. (2017). Connected Patient Report. San Francisco: Salesforce.com.
6. West. (2017). Prioritizing the Patient Experience. Televox.
7. West Health Institute. (2018, March 26). New Survey Finds Large Number of People Skipping Necessary Medical Care Because of Cost. Retrieved from West Health: https://www. westhealth.org/press-release/survey2018/
Do you know an Amazing Chiropractic Assitant that you'd like us to highlight?
Contact our editorial office at [email protected] We want your inspiring story!
