Millennials, those ages 18 to 34 are changing the landscape of healthcare and are one of the driving forces for more healthcare technology, according to studies.
“40% of patients surveyed in the report said they currently receive no preventative care recommendations from their physicians and 71% of millennial patients responded they would like to engage with their provider via a mobile app. “ ~ Salesforce, 2015 State of the Connected Patient
This study found that while millennials are concerned with health, the relationship with their primary care physician was less important than the ability to acquire the necessary information digitally. Considering Millennials have the greatest interest in digital health and are the largest generation in the U.S., the healthcare tech industry has a lot to look forward to in a short amount of time.
In a recent Xerox Survey, 57 percent of respondents said they’d be more proactive in their personal health if they had access to an online patient portal. This is great news in the tech industry; however, security of these online communication channels is a main concern. In order to meet legal and industry requirements and be successful in the digital health space, health tech startups must have patient privacy and security as a primary focus.
The millennials are known for the “My time is anytime” mentality where they have mastered the art of combining work and play and relaxation all into a fluid timeline so when they need answers, they expect to get them. Historically patients accept sitting in a waiting room for their turn for routine care, but many Millennials are opting for virtual appointments by video chats. As an attest to this change, 62 percent of physicians now offer telehealth services.
Real Time Solutions:
In a recent survey, more than 20 percent of millennials have never written a check to pay a bill. This means they are looking for office visits to accept digital payment plans that go beyond even credit cards. Online payment services such as Pay Pal, Google Wallet and Authorize.net are seeing an increase in use and it’s now up to the healthcare tech industry to comply and make this a standard offering.
Millennials are driving the “I want to know now” mentality and that includes answers to their health questions. Healthcare innovators like Theranos are accepting the challenge by developing technology that can perform hundreds of tests in just a few hours using a single pinprick of blood. They aim to shorten the timeline, costs and hassle of traditional procedures. Health tech startups that are able to facilitate a faster turnaround and streamline processes will be more likely to attract Millennials.
This generation is shaking up the way we do business. They expect value of service and company loyalty and they will communicate out their opinions without pause. Millennials are shaping how businesses move forward. The technology in the healthcare industry will need to continuously monitor these opinions and move forward as this generation ages through they healthcare system. Those that don’t won’t have many patients!