Why Tailoring Healthcare to Women is Not Just Good Medical Practice, but Good Business Practice
By Rachel Bauch, Kellogg School of Management ‘21
Research shows sex matters when it comes to medical care.
Over the past few years, an increasing amount of literature has been released indicating that a lack of attention to sex differences in the etiology of certain diseases has resulted in inadequate methodologies and strategies to prevent, diagnose, and treat diseases in women, as compared with men. This research places a spotlight on the need for providers to reconsider standard services and treatment options for women.
Progressive healthcare providers have found tailoring products and services to women is not just good medical practice; it’s also good business practice.
Sex sells
As providers continue to merge, health care incentives change, and new competitors emerge, there is now a greater emphasis on patient loyalty than ever before. Women’s health programs (beyond OB/GYN) grant providers the opportunity to build patient loyalty and grow volumes by engaging patients across their lifetimes. Historically, providers have leveraged their maternity programs to build loyalty among female patients by creating a first-class birthing experience. However, given the transient nature of the U.S. population many women will not remain in the geographic region in which they gave birth. Thus, providers must invest in tailoring clinical services to women across their lifespan to build patient loyalty later in life. By creating customized, comprehensive women’s health programs, providers can create a platform for continuous engagement across all life stages and needs.
Imperatives to target female patients include:
Female consumers make 80% of healthcare buying decisions
Women maintain a higher consistent hospital presence across their lifetimes than men, even extending beyond childbearing age (childbirth and longer lifespan lead women to have a higher proportion of inpatient stays)
Women are higher health care utilizers, as women are known for taking a greater interest in health and wellness
Recognizing this opportunity in women’s health, more and more providers are tailoring existing services (e.g., heart, GI, urology, health and wellness, etc.) and products to the unique health needs of women.
Join Kellogg on Saturday, February 27th at this year’s 2021 Kellogg Business of Healthcare conference: “What Now? The Next Normal for Healthcare” to hear our panel on "Women's Health & FemTech - Increasing Access to Care Through De-Stigmatization and Dialogue"!
ABOUT THE AUTHOR
Rachel Bauch: A Chicago native, Rachel is extremely passionate about healthcare ever since she interned at an obstetrics clinic when she was twelve. Rachel graduated Magna Cum Laude from The University of Pennsylvania with a bachelor’s degree in Health and Societies with a concentration in Healthcare Markets and Finance. Most recently, Rachel was awarded the Ambrose Reiter Merit Scholarship to attend Northwestern University’s Kellogg School of Management where she is currently pursuing her Master of Business Administration (MBA).
Rachel began her career as a consultant at The Advisory Board Company. As the company’s women’s health expert, Rachel was known for her slogan “Girl Power is World Power.” Rachel then joined the start-up world at CipherHealth where she successfully implemented patient experience software solutions in large hospital systems. Rachel then transitioned to VirtualHealth, where she designed care management software solutions for Medicaid health plans and served as Director of Client Strategy. After graduation, Rachel will be joining UnitedHealthcare’s Medicare Strategy group as the Director of Strategic Initiatives – Stars.