8 Ways to Adapt to Healthcare Consumerism and Meet Shifting Demand

In today's healthcare environment, patients are making decisions at every point of the healthcare journey, from their choice of providers to payment methods.

So how can healthcare practices meet patients’ shifting needs and expectations?

This article will explore the rise of healthcare consumerism and practical ways businesses can adapt to help deliver the best patient experience and stay competitive in a new era.

What Is Healthcare Consumerism?

Healthcare consumerism refers to patients’ increasing expectations to be more active participants in decisions related to their healthcare — including the choice of providers and treatments.¹ Many patients now shop for health and wellness services the same way they shop for consumer products.² An individual shopping for electronics might be on the lookout for the newest technology at the best price. Similarly, someone considering their health and wellness options may have specific criteria in mind, such as which provider offers the highest level of convenience or which quality treatment best fits their wallet.

Consider this: According to the 2022 and 2023 McKinsey Consumer Health Insights Surveys, 44% of healthcare consumers research providers before making an appointment, looking at two to three providers before choosing one. And 40% of surveyed consumers say they prioritize out-of-pocket costs when searching for care.²

The rise of consumerism in healthcare

The concept of consumerism is based on the principle of choice and preferences. So, as healthcare consumers, patients are taking the reins on decisions that affect their health.¹

Several factors have contributed to the consumerization of healthcare, including:³

• Increases in out-of-pocket payments
• Mandated pricing transparency
• More apps for assessing potential providers

All of this can be good news, as addressing patients’ evolving expectations can lead to better patient health and increased provider loyalty. In recent McKinsey surveys, satisfied consumers say they get routine care 14 percentage points more and defer care 10 percentage points less than unsatisfied consumers.⁴ And more engaged consumers report staying with their current provider and paying their bills.⁵

By embracing the shift to healthcare consumerism, your practice can help boost patient satisfaction, engagement and outcomes.²

Adapting to Shifting Patient Demands

With the rise of patient consumerism, healthcare practices want to replicate the experiences people enjoy when engaging with other businesses. In a McKinsey survey, 90% of healthcare provider executives and 100% of chief marketing officers identified healthcare consumerism as a top priority for their companies.⁶

Here are eight practical ways to adapt to and support patient consumerism:

1. Commit to patient-centered care

Today’s consumers prioritize health and wellness and want holistic support for their overall well-being. They’re seeking meaningful, trusting relationships with their healthcare providers.⁷

That’s where patient-centered care comes in. This model prioritizes the patient in all decisions and tailors services to the individual’s needs, values and preferences — all of which can enhance patient satisfaction and engagement.⁸

Consider these strategies to place patients at the center of the healthcare experience:⁸

• Provide staff training in empathy and shared decision-making to help ensure effective communication.
• Develop personalized treatment plans that align with patient goals.⁹
• Administer patient satisfaction surveys and use the results to identify areas for improvement.

A patient-centered approach can improve care and build patient loyalty to help your business stay competitive.¹⁰

2. Facilitate value-based care

Value-based care prioritizes the quality of patient care rather than the quantity of services delivered. Healthcare consumerism can facilitate value-based care when both patients and providers have a shared goal of improving health outcomes. After all, value-based care is dependent on patient engagement. And modern patients want to play an active role in their health and well-being.¹

To become a practice that views patients as partners in care, providers can:⁹

• Provide evidence-based information about patients’ health issues and possible treatments.
• Involve patients in decision-making by encouraging them to ask questions and share opinions.
• Share information about follow-up appointments, progress monitoring and treatment assessment.
• Encourage self-care by demonstrating things like proper medication administration and wound care, suggesting lifestyle modifications to enhance their health and teaching self-monitoring techniques.

This type of open communication can help patients stay engaged in their care and follow through with future treatments, and it can enhance the overall patient experience.⁹

3. Use predictive analytics

Modern patients want personalized care, and technology can help you deliver it. Artificial intelligence can analyze patient data to help providers predict potential health issues, which can enable earlier intervention and personalized treatment plans. This type of proactive approach can also reduce wait times, boost patient confidence and enhance the overall consumer experience in healthcare.¹⁰

4. Incorporate digital wellness tools

To help patients manage their healthcare needs, give them the tools to do so. Health and wellness practices can adopt technologies to empower patients to actively engage in their care.¹¹

For example, many healthcare organizations send alerts to personal health devices and trackers to engage patients between visits.¹¹ And according to a recent report, three-quarters of patients are making use of the personal health tracker in their mobile health app.¹¹ These types of apps and consumer wearables can be a great way to add value to the patient experience and even attract new patients to your practice.³

Healthcare practices can also offer personalized, at-home care plans via digital tools to connect people with care where it’s most convenient. Making wellness programs easily accessible can help keep consumers engaged in managing their health and provide the support they need to stay on track with care.⁷

5. Simplify administrative processes

Two-thirds of patient touchpoints are not clinical.³ This means that most of the interaction your practice has with a patient may not be the care itself but rather aspects such as scheduling, billing and ongoing communication. And it’s imperative to delight healthcare consumers with a seamless experience throughout the patient journey.³

Here’s why: A recent study revealed that nearly 1 in 4 insured patients delayed or skipped care because of administrative obstacles such as scheduling and billing issues.¹⁰

To ease the administrative burden on patients — as well as providers — consider consolidating scheduling, billing and health records into a single system. An enhanced scheduling and self-service portal can create a seamless digital front door, allowing patients to schedule appointments, access health records and manage billing information online. This can help reduce care delays and make it easier for patients to focus on their health rather than on phone calls and paperwork.¹⁰

6. Embrace price transparency

According to a recent Gallup survey, only 17% of adults said they were aware of healthcare costs before receiving care. But that’s not the way they think it should be: 95% said healthcare organizations should make costs more transparent before providing care.¹²

Providing patients with clear and accurate information about projected costs before the visit can simplify the patient decision-making process, ensure transparency, reduce frustration and increase the likelihood that patients will commit to care. It can also boost satisfaction, especially as more and more patients expect their healthcare experiences to be as satisfying as the other activities in their lives.²

7. Leverage technology for financial education

Most consumers struggle to understand their health insurance benefits.⁷ And patients are increasingly using healthcare websites and patient portals to learn about the financial aspects of care and make informed decisions.¹¹ According to a recent report:¹¹

• More patients are accessing education regarding services listed, price estimates, patient estimates, copays, etc. (87% in 2024 vs. 69% in 2023)
• More patients are seeking definitions of key terms related to pricing, insurance and/or service type. (84% in 2024 vs. 71% in 2023)
• More patients are comparing prices based on region. (82% in 2024 vs. 40% in 2023)

By providing easy access to this type of information through your practice's website or patient portal, you can improve the patient financial experience and empower people with the information they need to move forward with recommended care.

8. Offer flexible financing options

Patients may be dissatisfied with health and wellness payment options, and a perceived lack of options could impact the speed and rate at which patients commit to care.¹³

According to a 2023 patient journey study by Synchrony, 59% of patients said available options from their healthcare providers are limited when it comes to paying for out-of-pocket expenses, and 3 out of 4 patients would seek more health and wellness services if they had ways to pay.¹³

By offering flexible financing like the CareCredit credit card, you can help patients move forward with the care they want and need.* Cardholders are able to split the costs of their care into convenient monthly payments, and healthcare providers can receive payment within two days of the transaction, which can help reduce time spent on accounts receivable.

The Bottom Line

Today’s patients are seeking high-quality healthcare that aligns with their goals and expectations. By taking steps noted above — like simplifying administrative processes, embracing price transparency and offering digital payment options — you can help enhance the patient experience, improve outcomes and stay competitive in a changing healthcare landscape.

A Patient Financing Solution for Health and Wellness Providers

If you are looking for a way to connect your patients with flexible financing that empowers them to pay for the care they want and need, consider offering CareCredit as a financing solution. CareCredit allows cardholders to pay for out-of-pocket health and wellness expenses over time while helping enhance the payments process for your practice or business.

When you accept CareCredit, patients can see if they prequalify with no impact to their score, and those who apply, if approved, can take advantage of special financing on qualifying purchases.* Additionally, your practice or business will be paid directly within two business days.

Learn more about the CareCredit credit card as a patient financing solution or start the provider enrollment process by filling out this form.

Author Bio

Robyn Tellefsen is a freelance writer and editor with more than 20 years of experience covering health and wellness, finance and more. Her work has appeared on sites such as LoopNet, Beachside Rehab, First Horizon Bank, SoFi, A Place for Mom, American Express, Chase and more.

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