The New Health Consumer in the Post-Trump Health Economy

The “new health economy” has arrived, driven by consumer-directed health plans and value-based financing. Today’s healthcare consumers face higher deductibles, higher copays, and more cost and quality information than ever before. As a result, they have higher expectations of every healthcare encounter akin to their retail experiences. The new health economy is fueled by rapidly advancing digital technology, growing consumer empowerment due to technology adoption and trust, the rise of healthcare companies from the retail sector, and novel, non-traditional partnerships in care delivery and financing. Learn how your health plan or health system can “reimagine” itself to meet the challenges of the future.

Transcript

1. Jane Sarasohn-Kahn, MA, MHSA THINK-Health and Health Populi blog The New Health Consumer in the Post-Trump Health Economy
2. 2 Thanks for inviting me to…
3. 3 • Intro: our personal health ecologies • Personal health economics drives health consumerism and DIY health • DIY health enabled via social, mobile, digital tech • New Players in the New Health Economy – collaboration, coopetition, competition? • Implications for stakeholders The New Health Consumer in the Post-Trump Health Economy
4. 4 JSK’s Personal Health Ecology* *Note: we all have one!
5. 5 Health Is Local The Gallup-Healthways Well-Being Index Source: Gallup-Healthways Well-Being Index, 2015 Rankings, January 2016
6. 6 “Zip code more important than genetic code.” Robert Wood Johnson Foundation, 2009 Commission to Build a Healthier America
7. 7 Source: Emily Flake, The New Yorker, 5 January 2017
8. 8 Defining Health Care “Consumers” 3 Personae Patient Person Payor
9. 9 Life After October 2008
10. 10 How People Define Health and Wellness Physical health 94% Mental/ emotional Health 91% Personal appearance 87% Financial health 82% Source: Edelman Health Engagement Barometer, October 2008
11. Best Sellers for 2015 Top 10 Included 4 Adult Coloring Books for Stress Source: Adult coloring books promise stress relief, USA Today, December 13, 2015. Amazon’s best sellers for 2015, accessed online on 9/7/16 11
13. Stress Is A Social Determinant of (Ill) Health The Stress In America Survey, American Psychological Association 13
14. 14 Most Americans ID 4 Mental Health Issues In Top 12 in 2016
16. 16 Financial Stress A Risk Factor for Ill Health Source: Associated Press and AOL Health Poll on stress and health, 2008
17. 17 Table 2: Ranking Of Pocketbook Costs Percent who say it is very or somewhat difficult to afford each of the following Total By Insurance Status (Ages 18-64) By Annual Household Income Insured Uninsured Less than $40,000 $40,000- $89,999 $90,000 or more Health care 42% 38% 81% 56% 41% 16% Monthly utilities, like electricity, heat, and phone 38 36 63 54 35 9 Rent or mortgage 35 34 63 50 32 12 Food 31 29 52 48 25 7 Gas or other transportation costs 30 29 46 44 24 7 Health Care is #1 Line Item Of “Pocketbook Costs” Vs Energy, Housing, or Food Source: Kaiser Family Foundation Health Tracking Poll, October 2015
20. 20 $1 in $5 of consumer spending
21. People Magazine September 12, 2016 Passages column “HEALTH EpiPen manufacturer Mylan raised the price of the allergy injector to more than $500 – a 400 percent increase since they started selling the product in 2007. Public outrage ensued. The company then announced that it will soon start selling a generic version of the product for half the price.” 22
22. 22 Source: Carlton Cards, Speed Bump, ©Dave Coverly
23. 23 Source: Kaiser Family Foundation. The Burden of Medical Debt – Results from the Kaiser Family Foundation/New York Times Medical Bills Survey, January 2016
24. 24 The Growing Embrace of the Triple Aim in Health Care Public and private payors driving toward the Triple Aim in health plan designs. Source: Institute for healthcare Improvement, Why the Triple Aim?
25. 25 The More Activated a Patient Is, the Lower Their Health Costs Health Affairs, March 2015 Predicted Average Per Capita Costs In Follow-Up Year, By Change In Patient Activation Measure Levels During Two Time Periods. Source: When Patient Activation Levels Change, Health Outcomes And Costs Change, Too. Greene et al. Health Affairs 2015;34:431-437 (March 2015)
26. 26 Source: Advertising Age, April 22, 2013
27. 27 Source: Lynn J, McKethan A, Jha AK. JAMA, October 13, 2015
28. 28 Patients Can Feel Like Rodney Dangerfield – No Respect Source: Trevail C, et al. The Brands That Make Customers Feel Respected, Harvard Business Review, November 2016 • Among companies consumers feel most respect are REI, Publix, Wegmans, Dove, Olay and St. Jude • Health care, pharma, and health insurance rank lower on consumers’ respect “quotient” • Listen up, healthcare: “technology gives [people] increasing control over brand relationships.”
29. 29 Respect As SDOH – Feeling Disrespected Lowers Adherence Know the difference between: “What’s important for patients” vs “What’s important to patients.” Source: Right Place, Right Time. Altarum, Oliver Wyman, Robert Wood Johnson Foundation, January 2017
31. 31 Evolution of Homo Informaticus Source: Consumers on board: how to copilot the multichannel journey, EY, June 2014
33. 33 Broadband Connectivity Is A Social Determinant of Health Note Space Throughout US Source: Annual Broadband Report, FCC, January 2015 Without Access Rural
34. 34 DIY Life
36. 36 The New Retail Health
37. 37 CVS - Growing Force in Health, Wellness and Telehealth Telehealth Alliances
38. 38 A Growing Force in Health
39. 39 for Health
40. 40 Expanding Definition of Retail Health
42. 42 The Supermarket As Health Destination eg.,
44. 44 Source: Healthcare Consumers Are Ready To Go Virtual, Accenture, February 2017
45. 45 Growing Telehealth Options – On-Demand Medicine Source: Curated List By @HealthyThinker, 2 April 2017
46. 46 Growing Tele-Mental Health Options – On-Demand Behavioral Health Care
48. 48 CES 2017 - Key Categories in Consumer-Facing Health Devices Growth of Internet of Things in Health/Care Track sleep Track food Track weight Track heart function Track stress and mood Track meds Track “home” Track activity Connected car PERS
49. 49 Implications for Stakeholders The New Health Consumer in the Post-Trump Health Economy
50. 50 90% 90% 89% 88% 86% 83% 82% 82% 82% 77% Bio/pharma & Medical Products Healthcare Providers Food/ Beverage OTC/ Personal Care Media/ Entertainment Insurance Consumer Technology Brewing/ Spirits Retail Banking/ Finance Health Is The New Green Consumers Expect All Industries To Engage In Health Source: Edelman Health Barometer, 2010
51. 51 A Major Message for Large Retail, Healthcare Providers, & Digital Companies Equally Trusted to Manage Health
52. Health Plans Rank Lowest in Customer Experience 52
53. 53 Source: Aflac 2016 Workforces Report and Survey, October 2016
54. Nurses, Pharmacists and Doctors Rank Highest on Honest and Ethics in US Professions, 2016 8% 9% 11% 11% 12% 12% 12% 17% 18% 18% 23% 24% 38% 38% 44% 47% 58% 59% 65% 65% 67% 84% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Members of Congress Car salespeople Insurance salepeople Advertising practitioners Stockbrokers Senators HMO managers Business execs State governors Lawyers Journalists Bankers Psychiatrists Chiropractors Clergy College teachers Police officers Dentists Engineers Medical doctors Pharmacists Nurses Source: Americans Rate Healthcare Providers High on Honest, Ethics. Gallup, December 2016 Nurses by far most trusted followed by pharmacists and doctors Least trusted: Members of Congress, car sales, insurance sales, “Mad Men” 55
55. 55 • Know Thy Patients • Consider patients’ life-flows and personal health ecosystems • Share health data • Enable transparency and financial wellness • Ally/partner with other trusted ecosystem partners THINK-Aways for
56. 56 DIY Life  DIY Health New entrant + Health/care stakeholder Health/care solution Meal-kit delivery partnership aimed at Americans living with/at-risk for diabetes. Collaboration to give patients new option for getting to/from healthcare appointments Partnership evolving voice- powered appliance KidsMD, health advice to parents
58. 58 can do health
59. 59 Jane Sarasohn-Kahn, MA (Econ.), MHSA Health Economist, Advisor, Trend Weaver jane@think-health.com www.healthpopuli.com Blog @healthythinker Twitter