According to a survey conducted by McKinsey related to the behavior of the consumers in the United States, it is being noticed that there is a marked difference in consumer behavior pre and post COVID-19 or ongoing COVID-19.
More and more people are trying to adjust and adapt to the new normal that is in-home shift activities as compared to out-of-home activities. This also includes their approach to healthcare systems.
Remember, as the approach towards availing healthcare changes, how business related to healthcare is conducted will change as well.
Consumer behavior approach towards healthcare during the pandemic as cited by Dennis Begos
Increasingly, consumers are working out or rather reconsidering how they will avail healthcare and overcome both mental and physical health challenges. In this regard, McKinsey has conducted extensive research based on representative surveys that it has conducted on multiple instances.
Let us find out more about the same in the listed points below-
- Studies have found out that people are ready to compromise or delay availing healthcare if it is found that traveling to the place physically may not be safe during the pandemic. Instead, they are ready to wait for a while till the impact of COVID-19 settles down a little.
- More and more companies dealing with the healthcare business are ready to offer effective virtual telecare for such people. It is a common trend that more and more people affected with Coronavirus are contacting doctors and medical practitioners over the telephone for consultation.
- As compared to just 4% that availed virtual appointment of physicians before COVID-19 struck, as of February 2021, 47% said that the most recent appointment that they had taken for medical consultation was over virtual and 25% of the people reported that their recent appointment was over the telephone.
- As far as healthcare insurance is considered, people are rethinking what plans they must buy to address their virtual needs. Owing to the disruption in the economy across the globe, many people have lost their healthcare coverage. The pandemic is also influencing consumers about affordability and coverage.
- As an extension of the above point, it may be noted here and one that is also highlighted by Dennis Begos that people are in a “tug-o-war” situation, where you realize that you must have adequate coverage but at the same time, you have to shell out more, which you may not be able to afford at the moment due to the pandemic that has taken away jobs and led to pay cuts.
In a nutshell, it can be safely said that the healthcare landscape is changing and companies are addressing the “whole person”, and at the same time take into account so-called “healthcare equity”.
Also, there is an increasing requirement during the pandemic to highlight and focus on “the whole person”.
It is also equally crucial to consider the socio-economic and behavioral vulnerabilities of consumers and also of the healthcare ecosystem. This sector is slated to change in the near future as well.