Millennials, the generation known for its tech-savviness, are changing the healthcare consumer space as they make their own care decisions. And many place more trust in big technology companies over health insurers and health systems, according to a recent survey from Kaufman Hall.
When it comes to who is most trusted to develop the best online tool to help find and select the right healthcare services, 42% of adults 18 to 44 say they trust Amazon, Apple or Google. That’s compared to just 20% of adults 45 and older. In fact, tech companies were more trusted by younger adults than any other answer, including their insurance company (34%) or their local hospital or health system (19%).
Another 76% of younger adults also said they would use a mobile app developed by those three tech giants to help find and select healthcare services, while just 48% of adults 45 and older said the same. Adults 45 and older were most likely to trust an insurance company (45%), followed by a local health system or hospital (23%) before one of the three big tech companies.
The millennial generation makes up just slightly more than one-third of the population when combined with other young adults, contributing about 21% of total healthcare spending. And while older adults are the biggest users of healthcare, millennials are making waves with their presence and changing expectations across the industry. In particular, millennials want improved healthcare access, value and consumer experience. As this huge population ages, their healthcare influence will also grow.
Millennials and other younger adults are also more likely to comparison shop for outpatient services than older adults, including outpatient surgery, urgent care and advanced imaging services. Additionally, younger generations don’t like to wait for care, demanding better accessibility to primary care services.
With millennials making new demands and approaching care decisions as a consumer, healthcare providers need to make a shift and focus on the “Big 3 +1.” That means including access, experience and pricing as their strategy, all supported by a solid infrastructure.
See the full survey here.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."