What a Generation Ruled by Mobile Means for Healthcare
In our last blog, we mentioned how mobile continues to grow across the majority of industries today’s consumers interact with. We mentioned how companies need new ways to appeal to consumers. But, what does this mean for specifically for Healthcare? Like many of today’s industries, more and more emphasis is being placed on mobile. For Healthcare, this trend is no different. Traditionally the older generations have always been a staple when it comes to the targets for Healthcare, but what about the generation of today?
What do millennials think? Why should this matter for Healthcare?
Millennials have surpassed the baby boomers when it comes to who the biggest cohort is (Fortune). Thus, we will see Millennials play an integral role within Healthcare for years to come. It is essential for Healthcare companies to understand this giant new target market because they will only continue to provide more opportunities for Healthcare in the future. Healthcare companies can’t wait any longer. Mobile rules this new generation and the future of Healthcare must adapt and react with the changes of today.
Millennials and Mobile
Our phones have become omnipresent in our lives. Anytime, anywhere, with the function to do just about everything. They have even become a feature in young children's lives. Many actually have their own smartphone and service plan before they even become teens. In fact, according to Nielsen 45% of children between 10-12 already have a mobile service plan. But the real value comes through millennials. Millennials are discerning. They are surrounded in a tech-heavy world. They have countless options when it comes to engaging content. And they have countless methods of engaging with this content. So it is vital for Healthcare companies to remain relevant, and to reach them in the places where we can maximize engagement.
How can healthcare companies reach millennials?
Millennials and Healthcare
A common trend we are seeing of today’s millennials is first consulting online articles, journals, and websites when faced with health related issues. 80% of Internet users have searched for a health-related topic online (NBCNews). Here lies an opportunity for Healthcare companies. An opportunity to provide genuine and valuable information to these consumers, and leverage Millennials current behaviors to boost engagement with their brands. They should look to take advantage of this great movement toward online digital and mobile health. It is critical for healthcare companies to make sure that they have quality websites. Websites that align with the needs of prospective consumers. Providing great user experiences across all platforms is paramount. This is a generation that constantly looks to find new ways to absorb content. We are in a new digital age where mobile is king, and we must react accordingly.
Mobile and the future of healthcare
mHealth (mobile health) industry market size projection from 2012 to 2020 (in billion U.S. dollars)
The graph above shows the exponential growth and potential that the mobile health industry has. Mobile healthcare is projected to more than double in less than 3 years. Mobile healthcare, also known as mHealth is becoming one of the fastest growing fields in correlation to the boom of mobile devices. Mobile has ignited several opportunities for healthcare programs such as remote monitoring, fitness, digital e-records, prescriptions, and much more.
Many healthcare companies are seeing massive profits and success when it comes to making moves toward this mobile future. Several healthcare companies have already been innovating in order to keep up with the future of healthcare.
Where can we see this mobile success?
One healthcare example we can look to for having great mobile success is none other than our local San Diego medical device company Dexcom. Dexcom specializes in making high-quality medical devices for diabetes care and has recently seen massive growth. Dexcom’s stock has quintupled in the past 5 years, and they have been making innovative moves that have ranked them #2 on Forbes 2017 most innovative growth companies. They have been able to achieve this by making strong moves toward a mobile future.
Some of the mobile moves Dexcom has made include the following:
- Recently Dexcom has gotten FDA approval for their G5 Mobile app.
- Partnership with Apple Watches - We know that being responsive on all channels is extremely important and that companies must always be ready for new technological advancements. Dexcom even takes it a step higher with this new successful Apple partnership.
- Created a new eCommerce system on a single CMS - by making this move Dexcom has witnessed continued growth that has even expanded internationally. This system has also smoothly included API integrations and managed to incorporate Dexcom’s Oracle system for continued security. Learn more and see the case study here.
As you can see all of these innovative moves Dexcom has made, has kept them competitive, ready for the future, and has led them to see massive growth.
In order to save the future, we need to understand the future. The future is mobile, and it will continue to be mobile. Millennials are now the biggest generation. They are the market Healthcare needs to target. Healthcare companies can’t afford to wait. They must follow the likes of Dexcom and look to the future by innovating ways to incorporate this world now ruled by mobile.
Want to learn more about other successful local San Diego medical device companies like Dexcom?
Make sure to check out our list of Top 4 medical device companies in San Diego
Co-written and researched by: John Crisostomo