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21 Executive Briefing Sponsored by: 1 CareCredit Generational Health Research Study, Q3 2018. A s more people turn to ASCs and outpatient facilities for orthopedic, ocular, GI, women's health, or other procedures, ASC patient populations could become more varied. Given that many of these patients will be directly responsible for a substantial portion of the costs of their care, they may be more inclined to approach decisions about that care from a consumer mindset, playing a more informed and proactive role in navigating their healthcare experiences. For these reasons, it is important for providers to understand their patients' generational mix and consider how generational differences may affect consumers' expectations, needs and preferences related to healthcare. ASC leaders who do so may be able to gain a competitive advantage, positioning themselves for sustained growth and helping more patients get the care they need without delay. Breaking down the generational mix Different demographers may define the generations in distinct ways, but for the purposes of recent CareCredit research studies, the following groupings were applied: Baby Boomers, born from 1946 to 1964; Generation X, born between 1965 and 1982; Millennials, born from 1983 to 1994; and Generation Z, the youngest generation, born from 1995 on. Based on their current age, members of different generations have varied life experiences, having witnessed unique world events, historic milestones and technological advances. To take just one example, major technology advances like the advent of personal computers (Boomers), the Internet (Gen X), smartphones (Millennials), and mobile apps and social media (Gen Z) likely made a strong impression on individuals experiencing them for the first time (or seeing them become widespread). Impact on healthcare decisions and purchases Not surprisingly, CareCredit research confirmed that technology can be a major point of difference among the generations. While many Baby Boomers are extremely tech-savvy, and though not every Gen Z individual is constantly connected, the younger generations tend to be more comfortable with technology, allowing it to play a more integral role in many aspects of their everyday lives. Healthcare providers should consider these preferences when building out patient experiences, especially those involving online channels, which can be strongly appealing to some patients but may leave others eager for alternatives. For example, Millennials are very inclined to go online for healthcare information, using Google searches and sites like WebMD and Wikipedia at significantly higher rates than older consumers. 1 Millennials are also more likely to use online payment portals than non-Millennials (61 percent vs. 39 percent), and they are more open to using telehealth services. If your patient mix includes a high concentration of Millennials, you may want to look to these types of channels to engage with your patients. Generational Trends in ASC Care By Tim Donovan, CMO, CareCredit "... it is important for providers to understand their patients' generational mix and consider how generational differences may affect consumers' expectations, needs and preferences related to healthcare. " - Tim Donovan, CMO, CareCredit