Serving Millennials Requires Setting a New Standard for Healthcare Fahad Tahir
In Nashville, we’re especially impacted by millennial consumer patterns. Since 2010, the Nashville area grew by more than 32,000 people a year – a pace of about 89 people per day. Millennials – generally considered those born between the early 1980s and early 2000s – account for nearly 30 percent of Nashville’s total population.
The confluence of technology and social media is unique to this generation and has set cultural expectations for on-demand service across industries. Millennials have a reputation for being social media-crazed and conditioned to demand immediate response and actions. Radical disruptions to traditional services by companies such as Uber, Venmo and Postmates are meeting consumers where they are and as soon as they’re needed. The relationship this generation expects from their healthcare providers is no exception. Millennials seek healthcare experiences based on their personal needs, trust, and congruence with how they operate as consumers in other parts of life.
Healthcare providers must be innovative, responsive and reliable in ways better than in decades past. Building trust with millennials requires consistency, availability, and delivery of a modern standard of service. As we rethink the relationship between caregivers and millennials, we must recognize the factors influencing their decision-making process:
Digital word of mouth – Millennials have access to reviews of specific physicians and hospitals. In fact, 84 percent of patients check physician reviews before choosing their doctor. Digital word-of- mouth tools can make or break a patient relationship. Healthcare providers must be consumer-minded, present, and engaged on physician-review sites and social media channels as an agile approach to engaging with patients.
Insurance preferences and modern pricing – Studies have shown millennials prefer high- deductible insurance plans or savings accounts. Millennials came of age during economic collapse and the Great Recession, which left an imprint on purchasing habits. With less financial stability than past generations, millennials are more likely to shop around and seek deals on medical care. As 56 percent of Americans now actively look for pricing information before getting care, healthcare providers must begin to offer packaged services and appeal to prudent patients by providing a menu of affordable options not dependent on insurance.
Access and efficiency – Millennials demand care that is close to home – or even in the home – and available at their convenience. Options such as neighborhood care centers with extended and weekend hours or virtual care visits are more attractive to them due to the flexibility and less rigid process to obtain care.
We also must consider that technological progress, which is second nature to millennials, crosses generations. Consumers of all ages now use smartphones to take advantage of more convenient ways to access consumer services. In addition, members of younger generations, who increasingly are inherently tech-savvy, will before too long move into middle age and beyond. The innovative solutions we offer as healthcare providers are expected by millennials today, will be enhanced by their successors tomorrow, and will be appreciated by members of all generations.
As the healthcare service experience standard is shaped by millennials and a society entranced by technology and connectivity, healthcare, too, must rise to this new and higher bar and seek bold rather than incremental change in our connections with those we serve.
