There has been a lot of talk lately about how rising expenses are changing the way consumers shop for healthcare. HIDA’s latest Horizon Report, Healthcare Consumerism: Quality and Cost Driving Patient Behavior, backs this idea. The research also shows that quality remains the most important factor in provider selection, leading both cost of care and a provider’s commitment to cleanliness and infection prevention.
Millennials focus more on costs than earlier generations, according to the report. More than one-third of Millennials choose their provider based on cost, compared to 24% of all patients, and approximately 21% of Millennials have changed providers to save money. Despite their focus on cost, half of Millennials are willing to pay more out of their own pockets to visit a provider that offers newer equipment and products.