Consumerism in Healthcare: Why Control and Transparency Are Now Non-Negotiable

Americans are spending nearly $1 trillion USD annually on health and wellness1—yet satisfaction with the healthcare system is at its lowest point in 24 years2, according to Gallup. The disconnect is clear: spending more doesn't mean getting better care. McKinsey puts it simply, "As the shift to consumerism continues, organizations that embrace it most successfully will emerge as leaders of the healthcare ecosystem.”1

The Shift Behind Healthcare Consumerism

1. Patients are now financial stakeholders. As deductibles, co-pays, and out-of-pocket expenses grow, consumers have become more engaged. Each test, prescription, and appointment carries a personal financial consequence, making patients far more motivated to compare prices, research options, and ask questions.

2. Expectations are shaped by every other industry. Consumers now expect their healthcare experience to match the convenience of banking, shopping, or booking travel. Long wait times, redundant paperwork, and disconnected systems feel increasingly out of place.

3. Comfort with digital health solutions continues to rise. McKinsey’s Consumer Health Insights Surveys (2019–2023) show “healthcare consumers of all ages have become accustomed to using digital products and services and are eager to see them incorporated into their healthcare”1. In fact, in a recent Health Bank One survey, nearly 80% of respondents said it’s Important or Extremely Important to have an app that organizes all of their medical records and health info in one place.3

Healthcare organizations that embrace consumers will emerge as leaders.

 The Common Demand: Control

Across all these drivers, one theme stands out: consumers want control over their health information. Today’s patients are frustrated by fragmented records, multiple portals, and limited visibility into their own care.

They’re no longer satisfied with simply accessing information—they want ownership, portability, and tools that make their data useful. Similarly, patients want to feel confident that they are in control—that includes trust that their information won’t be shared without their consent and trust that it is secure.

Where Health Bank™ One Fits

At Health Bank One, we’re focused on solving this very problem by giving patients real control over their healthcare data:

• Complete medical record access: Patients can retrieve records from any provider, using their legal data rights—guaranteed.

• Organized, usable data: Records aren’t just collected—they’re digitized, normalized, and made actionable for the patient and their providers.

• AI-powered assistance: Our Care Guide™ helps patients interpret their medical information, prepare for doctor visits, and make better-informed decisions.

• Banking-grade security: Patients’ records are protected by high-level identity verification and privacy safeguards and the patient control their records so nothing is shared without their explicit consent.

  
  

We believe this kind of patient-centered infrastructure is foundational to where healthcare consumerism is heading.

The Road Ahead

Healthcare consumerism isn’t a passing phase—it’s the new operating model. Organizations that empower patients with transparency, convenience, and control will not only improve care but also strengthen trust and engagement.

We’re working with partners who recognize this shift and want to build healthcare systems designed to leverage empowered consumers and form direct connections with them. If you’re exploring these same challenges, we’d welcome the conversation.

Footnotes:

1 – Capturing growth with a consumer centric healthcare experience | McKinsey

2 - View of U.S. Healthcare Quality Declines to 24-Year Low

3 – Health Bank One directional survey conducted via an agile research platform powered by DISQO (n=324, March 2025)