Retail chains expand their appeal to millennial patients by offering insurance
The nimble startups that have had their sights on earning the loyalty of millennial patients are expanding into the insurance business, offering potential for a new model of integrated retail health. according to an article in Kaiser Health News.
Larger hospital systems have been providing healthcare insurance for some time now, but the recent move into the space by Portland, Oregon, retail provider Zoom has turned some heads, according to the report. Zoom targets millennial patients via a branded chain of clinics which offer mobile app-based appointments and stripped-down, fast, affordable service. Convenience and easy access have made the retail healthcare model more popular, and that popularity has in turn spawned further expansion into franchises and specialty clinics looking to benefit from millennials’ propensity for brand loyalty, according to the article.
Zoom’s refusal to see Medicaid or Medicare patients has helped it to limit its costs in a way that “may be cherry-picking the least costly patients,” John McConnel, director of Oregon Health & Science University’s Center for Health Systems Effectiveness told Kaiser Health News. Zoom cofounder Dave Sanders argues that the industry largely ignored millennials before the Affordable Care Act because they spend less on healthcare overall, an attribute that also makes insuring them attractive.
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