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Is subscription care a modern solution to traditional health hurdles?

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The policy could lead to better access to medications and treatments

Thanks to the global Covid pandemic, the last 12 months has changed the direction of health care.

Patients across the world sought wider, more accessible access to health care while at the same time staying away from traditional GP and hospital settings.

This fundamental change has seen a spike in subscription healthcare, which operates much like a streaming service like Netflix or a gym membership. Members pay a monhtly fee and receive ‘concierge’ healthcare, such as unlimited visits to the doctor, unrestricted access to healthcare professionals, laboratory services, immunisations and prescriptions.

Zuora, a subscription management platform provider, released its bi-annual Subscription Economy Index (SEI) which shows that subscription businesses have grown hugely, driven by an increase in consumer demand for the use of services, according to a new survey.

The Harris Poll conducted online on behalf of Zuora across 12 countries, revealed the growing consumer preferences for use of subscription services over the ownership of physical products.

The End of Ownership Report showed 78 per cent of international adults currently have subscription services – higher than the 71 per cent in 2018, and 75 per cent believe that in the future, people will subscribe to more services and own less physical ‘stuff’.

The survey suggests subscriptions increase brand connection among consumers. Nearly two-thirds of subscribers – 64 per cent – said they felt more connected to companies with whom they have a direct subscription experience versus companies whose products they simply purchase as one-off transactions.

Consumers surveyed also said they want to pay for what they use. Nearly three-quarters of international adults 72 per cent would prefer the ability to pay for what they use, rather than just a flat fee.

The report stated that convenience tops the list of benefits for subscribing to a product or service instead of owning it, followed by cost savings and variety.

“The time is now for companies to embrace the subscription business model,” said Amy Konary, founder and chair of the Subscribed Institute at Zuora.

“Our bi-annual Subscription Economy Index suggests that brands can increase value to their customers through the on-going delivery of services when and where they’re needed.”

“Global organizations are propelling their businesses forward by embracing technology, broadening access to services, and placing the power in the hands of their subscribers,” she continued.

“We recommend that businesses design their offerings for ultimate consumer flexibility and freedom, so that customers can tap into them anytime, anywhere, to whatever extent that they choose.”

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