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It makes sense for healthcare systems to start behaving like retailers when patients are increasingly behaving like consumers. Recent research conducted by The Health Management Academy (HMA) found that “consumers recognize differences in provider cost and quality and are seeing an average increase in out-of-pocket spending that far outpaces inflation.” Factors such as these are contributing directly to the rise of the “healthcare shopper.”

Leaders in the healthcare industry and CEO’s need to be asking themselves these five questions to determine how best to engage with your customers, or patients.

• What acuity level does by health system serve?
• Which medical modalities drive the revenue my system is seeking?
• What are the ten key characteristics of my desired patient population?
• How and where can my system best engage my consumer?
• Should my system seek strategic partnerships with traditional retailers?

Think through these questions and write down your answers. Reflect on the changes that are taking place in the healthcare industry today to help you look forward to the changes to occur over the next ten years.