Most millennials like myself grew up playing video games, whether it was online or through consoles like Wii and Xbox. What intrigued me the most about playing video games was the challenge of conquering each consecutive level as quickly as I could. My gaming experience fuels my eagerness to see instant results in the work that I do -- a trait that I have carried along through the years, and I'm sure I'm not the only one. Traits like this are cultivated from the fast-paced, technology-fueled society in which millennials have grown into adulthood. These generation-defining traits will have a deep impact on the evolution of the modern workplace, forcing unconventional changes to take place.Read More
Millennials, millennials, millennials. Am I right?
It’s pretty much impossible to live in the U.S. today and not hear about how the generation known as “millennials” are changing everything from the way we eat and drink, to real estate markets, to the very shape of the U.S. economy itself. As you may know, millennials are expected to overtake Baby Boomers in population by 2019, and Generation Xers are expected to surpass Boomers in population by 2028.
Let’s say for a moment that your medical practice doesn’t suffer from slow and ineffective patient revenue cycle management (RCM). Your patient net collection rates are a-ok, and you laugh in the face of insurance claim denials. Why should you care about updating your RCM to an innovative, user-friendly technological platform?
One important reason is that millennials are coming, and this generation is slated to drive a massive sweep of change through the healthcare industry.
Millennials make up the largest portion of the American workforce, outnumbering even Baby Boomers since 2016. This huge group possesses an unsurpassed level of spending power for any generation in 2018-- $3.39 trillion dollars and rising. Even more important for your practice to consider is that millennials have been raised in a digitized world. They have come to expect and even demand the convenience and ease of handling most bill payment and purchasing online or through smartphone apps. Here are a few startling statistics regarding millennials and their approach to healthcare: