What is the impact of consumerization and the consumerized patient? You know a lot of people think that it’s just the bossy patient asking for more stuff in health care.
But the truth of the matter is that consumerism in health care is one of the most powerful motive forces in how we create the future of healthcare.
We will see that health care is going to move from a high degree of friction to a low degree of friction in some cases friction freedom.
Let me just pause and give you some examples.
You know it used to be that if you wanted to get braces for your kids you would go to your local orthodontist, they would do a workup, they would provide you a quote for five to seven thousand dollars, and then you would write a check for that, and then you would come in every couple weeks take an hour off work, while they dialed in the braces on your kids.
I mean that I experienced that with three of my kids.
But today in a time of hyper-consumerism, now you can go on to programs like Smile Direct Club.
You sign up in a beautiful website, that takes seconds to use, they send you an impression kit, they take the impression, once you get the impression back they give you a quote to be able to give you all of your invisible liners, and then they ship them to your kid, and your kid uses them without any visits to the doctor for a small fraction of the price.
Two things happened.
Significant drops in cost, significant improvements in the consumer experience, the net clinical result by most experts is the same.
Now think about eargo.
Eargo technology is a hearing aid technology.
One of the problems in audiology is oftentimes men, who need hearing aids, are reluctant to go in because they think hearing loss is the ultimate sign of old age, so they’re reluctant to go see an audiologist and typically that experience is also friction laden.
So ergo allows you to go online, you talk to an expert audiologist, they send you an in-ear fitting device, they verify that it fits perfectly, then you send that information back to them, and they send you a state-of-the-art FDA-approved hearing aid for a fraction of what it would cost to go through a traditional audiologist, and you save the embarrassment.
Look, I could go on and on and on about examples of how we’re leveraging technology, and consumerism to reduce cost and improve the patient experience with no net decrease in patient efficacy and safety.
Right, so we’re not impacting efficacy and safety but we’re reducing cost and increasing the beauty of the experience.
This will continue to scale in a very very big way.
In Fixing Healthcare in my upcoming documentary, I talk about this in great detail and show you examples of how we’re transitioning from something that was painful and friction laden to something that was beautiful.
I hope that you join me on this incredible movement as we transition with the goal of Fixing Healthcare.
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