Becker's Hospital Review

12 CEO / STRATEGY How Gen Z sees healthcare: 10 stats By Alexis Kayser G eneration Z is known among their predecessors for demanding difference: different workplace norms, different social initiatives, different technological approaches. ey'll want a different healthcare industry, too, as many literally wear their health metrics on their sleeve. Members of Gen Z are tracking their health with apps and wrist watches, seeking out supplements and prioritizing physical exercise. But they are also prone to social media misinformation and struggle with mental illness at higher rates, according to a recent report from management consulting firm Oliver Wyman. e report was written aer two years of focus groups and an online survey of 10,000 people in the U.S. and U.K. All participants were between the ages of 18 to 25. Ten key takeaways from Oliver Wyman: ey're serious about supporting health with technology • Generation Z is twice as likely to go to social media for medical information. • Twenty-five percent of Gen Z wears a fitness or sleep tracker, like a Fitbit or Apple Watch. • Nearly 20 percent track their food and water intake with an app. ey are more concerned with physical fitness than previous generations • Fiy percent of Gen Z reports regularly working out, compared to 45 percent of people from other generations. • Twenty percent of Gen Z meditates and uses a wellness app. For comparison, 14 percent of people from other generations report meditating, and nine percent regularly use a wellness app. • Seventeen percent of Gen Z takes personalized supplements, compared to 8 percent of people in other generations. ey are more open to conversations about health, mental and physical • Gen Z is twice as likely to share personal health information for guidance on navigating the healthcare sphere. • ey struggle with mental health issues 1.9 times more than other generations — but 24 percent attend therapy online or in person, compared to 11 percent of people from other generations. • Gen Z is 63 percent more willing to discuss menstrual cycles, 41 percent more willing to discuss addiction and 20 percent more willing to discuss mental health than their predecessors. ey care about price more than privacy • More than half of Gen Z would share their health information — such as measurements tracked by a wearable device — with their insurer, an app, or a retail clinic in exchange for lower healthcare prices. n 'CEO pessimism' at a decade high: report By Erica Carbajal A bout 73 percent of CEOs believe economic growth will decline through 2023, the most pessimistic outlook since PwC began asking the question as part of its annual CEO survey 12 years ago. When this question was asked in the 2021 and 2022 surveys, more than three-quarters of CEOs had an optimistic outlook that economic growth would improve. "A volatile economy, decades-high inflation, and geopolitical conflict have contributed to a level of CEO pessimism not seen in over a decade," Bob Moritz, global chairman at PwC, said in a news release. "CEOs globally are consequently re-evaluating their operating models and cutting costs, yet despite these pressures, they are continuing to put their people front and center as they look to retain talent in the wake of the Great Resignation." The consulting firm published its "26th Annual Global CEO Survey" on Jan. 16. More than 4,400 CEOs from 105 countries and territories were surveyed between October and November. Here are four more findings from the report: 1. Nearly 40 percent of CEOs do not believe their organizations will be economically viable in a decade if they continue on their current course. This was consistent among respondents in a range of sectors, including healthcare (42 percent). 2. CEOs are cutting costs without reducing head count or pay. Half of CEOs indicated they are reducing operating costs. About the same reported raising prices. Meanwhile, 60 percent of CEOs said they do not plan on reducing head count over the next 12 months. Eighty percent said they do not plan to reduce compensation. 3. CEOs rank inflation (40 percent,) macroeconomic volatility (31 percent) and geopolitical conflict (25 percent) as top global threats. A year ago, cyber and health risks were the top concerns. 4. Managing climate risk is a growing priority for CEOs, with 58 percent indicating they are developing a strategy to reduce emissions and mitigate risks. About 50 percent of respondents believe climate risk affects their cost profiles, and 42 percent believe it affects their supply chains from a "moderate to very large extent." n

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