Your success or lack thereof will rest upon patient loyalty.
This is an article about the future battle between telehealth and telewealth. Telehealth - the version of telemedicine most of you practiced during the pandemic - will be pitted against telewealth, the Amazonization of healthcare in which patient care becomes a commodity. Your success or lack thereof will rest upon patient loyalty. That bears repeating: your success or lack thereof will rest upon patient loyalty.Please permit me to explain.
Amazon, CVS, United Healthcare, and other conglomerates are investing serious resources (aka telewealth) into taking away your core business: patient care. I imagine artificial intelligence and treatment algorithms will be part of their strategy, yet the main strategy will be convenience: healthcare when a patient wants it, where a patient wants it.
Think about it: so many of us want to support local business, but time after time we succumb to Amazon’s advances. In the absence of a personal relationship with a retailer, convenience trumps loyalty time and time again.You cannot compete with the convenience of 24/7/365, but you can compete – and win - on loyalty. I believe it is the key.
Here are six steps I urge you to take.
The Role of Third-Party Financing in the Health and Wellness Payment Landscape
April 17th 2025"How patients access and seek out health and wellness care continues to evolve amid growing costs and a changing healthcare landscape – and communication around payment options continues to impact how patients select their provider. In this whitepaper, Synchrony shares new data on the vital role alternative payment options have on patient decisions, and how providers can strengthen their financial offerings. Learning Objectives: • Learn the current trends impacting the ability of in-house financing plans to meet patient demands. • Understand patients’ financing preferences and how it directly impacts behaviors when pursuing care and choosing a provider. • Discover how third-party financing can support practices to meet patients’ needs, help relieve administrative burdens, and stay competitive within an ever-evolving healthcare industry. "