Xerox survey: Millennials most cost-conscious about healthcare
According to a new survey financed by Xerox, Millennials, or individuals between the ages of 18 and 34, are the most cost-conscious generation when it comes to healthcare. Fifty percent have even delayed treatment due to the healthcare costs.
More than 750 U.S. adults who purchase health insurance for their household participated in the survey, which was conducted by BAV Consulting.
Gen Xers, or individuals ages 35 to 49, are the second most cost-conscious, according to the survey. Forty-five percent have delayed treatment due to cost in their lifetime.
“The move to consumerism in healthcare is upon us,” Connie Harvey, Xerox’s chief operating officer, Healthcare Business Group, said in a prepared statement. “This data gives a glimpse at how consumers weigh cost in the healthcare decision making process—insight critical to guiding payers and providers as they look to transition to value-based care models.”
The survey also found that having access to their own electronic health records is most important to Millennials, with Gen Xers not far behind. And respondents from all generations said they want their pharmacists, healthcare providers, and health insurance companies to “be more connected regarding their health.”
“In order for the value-based care paradigm to work, payers and providers need consumers, especially Millennials, to take control of their own care, but clearly they need help getting there,” Harvey said.
Xerox released this research at the 2016 HIMSS Annual Meeting & Exhibition in Las Vegas and can be found there at booth #8005.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.