DENVER – November 14, 2019 – As Millennials become the largest living generation, it is crucial for hospitals and health systems to develop growth and retention strategies that resonate with this distinctive population. In the new report Millennials Matter: How to Engage and Build Loyalty by Welltok, formerly Tea Leaves Health, these younger adults spoke loud and clear. More than 85% feel that providers should be supporting their total wellbeing, yet about half feel like their provider only cares about them when they are sick.
“Millennials are an important population that providers cannot afford to ignore when growing their patient base and business,” said Michelle Snyder, chief marketing officer at Welltok. “To attract and retain Millennials, providers must not only understand what’s important to them, but also be able to support and engage with them in order to build a longitudinal relationship.”
To give providers actionable insights about what this high-value population wants, Welltok conducted an online survey of Millennials with independent research firm Ipsos and identified key findings including:
- Supporting Holistic Health is a Necessity: While Millennials want support for traditional things like physical activity and nutrition, they also want support across all aspects of health. The majority (over 90%) also want support for emotional/mental health, adequate sleep and positive family relationships.
- Millennials Want to be Loyal: 88% said they would be more loyal to providers if they supported total wellbeing. Furthermore, Millennials ranked providers as the first place they would turn for support, and contrary to common assumptions, 93% are in fact interested in creating an ongoing provider relationship.
- Personalization is an Expectation: Millennials are immersed in the on-demand culture and these expectations extend into healthcare. Serving up relevant, personalized experiences is a must for providers, who often miss the mark. More than 80% of Millennials feel if their provider knew more about their health interests, goals and motivations, they would be able to serve them better.
“These findings confirm that like other generations, Millennials want more holistic, personalized support from their providers and will reward those that provide it,” Snyder continued. “We’re excited to help the innovative hospitals and health systems we work with to not only attract this important population, but also keep them more loyal by communicating with them through their preferred channel and delivering health and wellbeing resources year-round.”
Get the full report here, which includes the “5 Essential Components of an Effective Growth Strategy” in time for 2020 planning.