Consumer Impact Survey Blog Part 3 – Generational Differences in the Financial Experience

Within the population, there are certainly some interesting generational differences at work. Young consumers view their business office interactions as more important in the overall value equation. Business office interactions will influence their willingness to recommend, a key signal to underlying patient satisfaction.

Younger respondents much prefer to pay their bill through portals or by credit cards over the phone. This isn’t surprising based on the digital world within which they grew up and currently live. Only older respondents have some affection for mail. However, even among the older generation they would rather pay online via a portal than with a credit card over the phone.

A significantly larger portion of young respondents will ask a friend or healthcare expert to review their bill.

Younger patients are also more likely to be more nomadic, with 45% using multiple facilities in the past year. Older patients are more committed, with almost 80% being exclusive to a single hospital. This is an increasingly important issue given new payment models closely tied to in-network utilization.

In Part 4 of the Consumer Impact Survey, we will focus on the relationship between health outcomes and satisfaction.