(PRWEB) March 11, 2014
Phoenix Marketing International, one of the top research companies in the U.S., today released findings from a tracking study among those currently uninsured and those recently enrolled in the Affordable Care Act (ACA, aka ObamaCare) marketplace. The tracking study measures the ongoing impact of the ACA on healthcare product and service demands throughout 2014. Additional details and customization options for the study can be found here.
As the open enrollment deadline looms on March 31st, the pilot wave of this research study reveals many consumers still lack basic knowledge on insurance costs, services offered (including prescription coverage), and penalties for remaining uninsured. Researchers believe this lack of awareness signals opportunities for insurers, pharma companies, and other stakeholders to provide uninsured consumers with critical, easy to understand information that empowers their decision-making.
Key findings include:
- 50% of the uninsured have not yet looked into what it would cost to obtain health insurance.
- Most of the uninsured are not aware of the free services they would receive with new insurance – only half are aware that some prescription medications are free under the ACA.
- When informed about coverage options and the tax penalty, 67% of the uninsured say they are more likely to purchase health insurance this year than pay the penalty, illustrating the potential power of proper education.
- Insurance coverage leads to more diagnosis and prescription treatments. The study clearly shows a large opportunity gap for prescription treatments for the uninsured across a large range of conditions. For example, while about 35% of the U.S. population suffers from diabetes or pre-diabetes, only 7% of the uninsured surveyed are currently treated for this potentially life-threatening condition.
“Consumers’ lack of awareness is presenting pharmaceutical companies and insurers with a chance to effectively market and educate the uninsured and newly insured into informed and healthier consumers,” said Steve Wakefield, President of Phoenix Healthcare. “This tracking study is important because it continues to uncover the gaps in awareness and opportunities for education. The study also provides stakeholders with ongoing and deep insight into consumer behavior and attitudes around the ACA, which is crucial considering how difficult it has been to predict what will happen in 2014. One thing is clear: the organization that properly educates the consumer has the best chance at winning their business going forward.”
The ACA tracking study provides quarterly metrics that include demographic data, disease state treated and untreated in household, intended disease state treatment plans once insured, intended health insurance plan action (pre and post ACA explanation), information sources, and barriers to insurance adoption. The study is conducted quarterly with 1,000 consumers. Sampling incorporates online, phone and in-person recruitment, and is offered in both English and Spanish. Two key groups of consumers are surveyed: those who are currently uninsured but are eligible for the ACA and those who recently enrolled in an ACA plan.
About Phoenix
Phoenix Marketing International is a premier global marketing services firm providing its clients with tailored, unique insight into their customers and markets via a wealth of existing proprietary data. Coupled with custom research products and the latest qualitative and quantitative techniques, Phoenix has extensive research experience across the Automotive, Financial Services, Healthcare, Converged Technology and Media, Restaurant, and Travel/Leisure sectors. From the strategic definition of consumer needs to effective marketing program implementation, PMI provides profit-driven market solutions and is committed to maximizing a client’s Return on Marketing Investment (ROMI) by leveraging the ability to attract and retain new business through cost efficient data acquisition and statistical modeling techniques. Founded in 1999 by Chairman and CEO, Allen R. DeCotiis and President, Martha Rea, Phoenix Marketing International has established its global presence with offices in major locations such as New York, New Jersey, Boston, Philadelphia, Raleigh/Durham, Detroit, and London.