The Simple Law of Demand: What Baby Boomers Want From Heathcare

Posted on September 27, 2012. Filed under: Patient Experience, Post By Christy Whipple |

Christy Whipple

The Simple Law of Demand

  • The 72 million baby boomers, that are now becoming the most active consumers of health care, value “the experience” as much as they value any product or service itself.
  • Baby boomers are willing to pay the price for quality healthcare, but they want it delivered their way
  • 63% of patients believe quality is defined by how well they are treated in a hospital vs. the success of their treatment
  • Patients are about 10% more likely to switch hospitals after hearing negative comments about patient care than after hearing about a treatment mishap
  • Baby boomers in particular define quality as the process vs. the outcome-the experience is as vital as the result
  • Hospitals with the most loyal patients had 82% higher earnings per adjusted patient day than those with the least loyal patients
  • Studies show that it costs 7 times more to acquire new business than it does to create the same amount of revenue through simply improving loyalty

To learn more about the challenges facing hospitals today and how Introcomm can help, contact us!

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