Among the emerging trends that were discussed both in speakers’ presentations and among attendees at G2 Intelligence’s 31st annual Lab Institute “It’s Make or Break Time: A Path Forward for Labs” (Arlington, Va.; Oct. 16-18), none were so prominent as the trend of increasing consumerism in health care. The facet of this consumerization trend that is likely to most affect the laboratory and diagnostic industries is the rising cost-consciousness among both providers and patients. “Consumerism is here, like it or not,” explained Francisco R. Velàzquez, M.D., CEO of PAML (Spokane, Wash.) in a breakout session at the conference. “It is coming because we are shifting the cost to consumers. As they are being asked to pay more, they are more interested in what they are paying for. Cost will drive where they go and what we do.” Aside from the health care system reforms driving consumerization, Velàzquez says that the push toward consumer health has been accelerated in recent years because of technology, the poor economy, and, even more broadly, a shift in the consumer base. By the year 2040, Generation Xers will make up the majority of consumers, and their thought process in addressing health care is markedly different […]