Legacy health brands are dwindling as healthcare consumers place more value on convenience than reputation. That’s the idea behind July 1st tweet by Sachin Jain, MD, the CEO of Scan Group and Scan Health Plan.
“We are at a time when the importance of major health brands is declining,” he said.
For Dr. Jain are major health brands generally known for being the best in a particular field or region. While many major health brands have high quality KPIs to influence, Dr. Jain, that relying on the name alone is problematic.
“Many health organizations have experienced an arrogance selling on brands. There will be a reckoning for some of these organizations. My personal view is that the next generation of health consumers will be less focused on thinking.” about brands in the same way, “said Dr. Jain Beckers.
Today’s patients are more concerned with convenience, digital access, and price than their reputation. Nursing costs, easy scheduling, and accessibility surpass recognition, said Dr. Jain.
At Scan, Dr. Jain said that Long Beach, Calif.-Based Medicare Advantage insurer that serves more than 220,000 members has a strong focus on staying as human as possible and meeting unmet needs for its community.
“Elite healthcare brands are entering this fun phase of becoming underdogs. They must have a chip on their shoulders to be successful and perform in this next phase,” said Dr. Jain. “Because I’m not sure if the payers will continue to pay the same premiums per brand.”