PRESS RELEASE: PatientBond Completes Update to National Psychographic Study
In a press release issued February 5, 2019, PatientBond announced the completion of its latest national market research study on the U.S. healthcare consumer and its proven psychographic segmentation model.
The study is PatientBond’s third national study focused on health, wellness and healthcare delivery. 4,105 respondents participated in the study, completing an extensive survey on attitudes, beliefs, needs, behaviors and preferences regarding:
- Physicians, nurses, pharmacists and other healthcare professionals
- Hospitals, health insurance companies, urgent care centers and other institutional providers
- Prescription and Over-The-Counter (OTC) medications (including where shopped)
- Information sources influencing choice of hospital or health insurance company
- Preferred channels for accessing or receiving information on health education, marketing, appointment reminders, bill paying and many other topics
- Health technology, including apps, wearables, telehealth and Artificial Intelligence (AI)
- Plus many other topics important to healthcare stakeholders
Psychographic Segmentation Model
PatientBond uses a proprietary and proven psychographic segmentation model to personalize patient/member engagement with messaging and channel selection based on the participant’s preferences and motivations. Psychographics pertain to people’s attitudes, values, personalities and lifestyles, and are core to their motivations and approaches to health and wellness.
PatientBond’s psychographic segmentation model was developed by healthcare consumer experts from Procter & Gamble, where they led psychographic model development for P&G’s Healthcare division before joining PatientBond in 2012. This model differentiates PatientBond from other patient engagement technologies in the marketplace, and has driven significant results influencing positive patient/member health behaviors.
Anurag Juneja, Chief Executive Officer of PatientBond, stated, “We consistently deliver unrivaled results for our clients using our unique capabilities. However, we strive to continuously enhance these efforts with new consumer insights to understand why consumers do what they do and to keep pace with the rapidly evolving healthcare environment.
Not only can the data from this study be analyzed according to an extensive set of demographic, socioeconomic and geographic variables, differences among each of five psychographic segments are readily apparent. The five psychographic segments include (percentages represent each segment’s share of the U.S. population ages 18+):
- Self Achievers (19%): The most health proactive and wellness-oriented. Self Achievers invest in their health and appearance and among the least price sensitive when it comes to healthy products and healthcare services.
- Balance Seekers (17%): Also proactive with health, nutrition and exercise, Balance Seekers are open to many approaches to wellness. They like to explore options and are more likely than other segments to use alternative or holistic medicine. While health-proactive, Balance Seekers are independent and place less emphasis on physicians and other healthcare professionals.
- Priority Jugglers (18%): Reactive in healthcare for themselves, but proactive in getting care for their loved ones. Priority Jugglers tend to sacrifice their own wellbeing out of duty and dedication to family and friends, and always seem to be managing many responsibilities.
- Direction Takers (15%): Reactive but relatively high utilizers of healthcare. Direction Takers seek directive guidance from healthcare professionals and respect credentials. However, they're not passive Direction Followers – if a doctor or nurse cannot frame a recommendation in a way that makes sense to them, Direction Takers may not be adherent.
- Willful Endurers (31%): The largest segment, Willful Endurers are the least engaged in healthcare. They live for the moment, and unless a healthcare provider can help Willful Endurers understand how they can immediately benefit from a recommendation or request, they are less likely to follow through.
Each psychographic segment requires a different engagement strategy, whether interpersonally between provider and patient, or through digital communications such as email or text messages via the PatientBond platform.
Visitors to PatientBond’s website can discover their own psychographic segment by quickly answering twelve short questions.
The extensive study yielded millions of data points on health consumers that are being operationalized by PatientBond. Some provocative insights include:
- 67 percent of frequent visitors to urgent care clinics are the Willful Endurer segment. One of PatientBond’s clients with dozens of urgent care centers conducted an analysis and found that much of the success of a clinic location was driven by a high population of Willful Endurers within a five-mile radius.
- The optimal mix of communications channels (e.g., email, print, text message, phone call, etc.) and frequency of communications to activate behavior change differs significantly among the segments.
- Self Achievers are the most likely to regularly use health apps and wearables.
- Two segments – Self Achievers and Willful Endurers - represent 70 percent of all telehealth use
- The psychographic segments place different priorities on HCAHPS and HEDIS measures.
Operationalizing the Insights
PatientBond has been able to practically apply these healthcare consumer and psychographic insights to activate desired patient/member behaviors.
Juneja stated, “PatientBond regularly drives response rates from 25 to 70 percent across efforts involving marketing & acquisition, patient loyalty, health outcomes and even patient payments and collections. We have seen a 90 percent reduction in 30-day readmissions for Congestive Heart Failure, a four-times increase in collections on patient accounts due, and a 57 percent increase in cancer screenings and completed Health Risk Assessments.”
PatientBond will be attending HIMSS19 in Orlando, Florida during February 12-14, 2019 in Booth #4591.