CVS: Consumers seeking more connected healthcare

The CVS Health 2022 Health Care Insights Study reveals that US consumers, many of whom delayed care owing to the pandemic, are eager to restart their health & wellness journeys. They are looking for more meaningful and engaging relationships with healthcare providers and want them to know about and address their holistic health goals. Most consumers perceive “health” and “healthcare” as all-encompassing and say they now have a new awareness of how physical health connects to social, emotional and mental health. The survey of 1,000 consumers and 400 healthcare providers found that increasing engagement and communication improves health outcomes.

The study also showed that US consumers appreciate frequent healthcare touchpoints and support, and that 22% of consumers care even more about their health now compared to before the pandemic. “The pandemic changed nearly everything about our world including the way many consumers view the importance of their health,” says CVS Health President and CEO Karen S. Lynch. “As we look to the future, CVS Health is uniquely positioned to reimagine healthcare that is centred around people: simpler, more accessible and more affordable, with better health outcomes.”

Source: CVS 2022 Health Care Insights Study

Nicholas Hall’s Touchpoints: Recent consumer research studies published by Stada and CVS give important insights into consumer attitudes and the changing shopper journey during the pandemic. As my colleague Sarah Carter, CHC Insight Europe Editor, tells me: “Stada’s Health Report 2022 paints a rather gloomy – but not altogether surprising – picture of the health and attitude of Europeans as the pandemic enters its third year. With Covid-19 continuing to take its toll on health services and access to them, the survey reveals the significant and lasting impact on consumer stress, sleep and mental health. It also aims to provide scientifically-verified data to stimulate debates around healthcare trends and needed actions to support the invaluable work done for patients and consumers by physicians, hospitals and pharmacists.” On the other hand, US consumers seem much more persuaded about the benefits of self-care and are eager to start up their health & wellness journeys.

When I think about all these macro and micro factors influencing the consumer healthcare market, maybe it isn’t too far-fetched to think that the growth rates we achieved in 2021 and Q1 2022 may be sustainable after all. Ultimately, it’s down to you to invest in your famous brands and innovations. What we do know from tracking the 2008 financial crisis and earlier pandemics is that consumers continued to self-medicate, often at an increased rate, but we will have to fight very hard to retain the branded element of this growth market and avoid it going fully generic.

Looking to add to your team? Our executive recruitment service CHC TalentSelect can help. With over40 years’ experience in connecting people across the CHC industry, please get in touch with maricar.montero@NicholasHall.com to kickstart your search today.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s