The Hispanic Healthcare Opportunity
By Roberto Orci
MediaPost.com reported that according to the CDC, we are currently experiencing the worst flu season in over a decade. A new report from advertising intelligence company MediaRadar found that various over-the-counter (OTC) drug brands had increased their ad spend for cold and cough medicine in September and October by over 1000% to connect with consumers.
With that as a backdrop we shine the spotlight on a large consumer and underserved segment of consumers, Hispanics. To better understand the current situation I interviewed Dr. Mario Molina, the founder of Molina Healthcare and Board Chair of United States of Care, an organization dedicated to improving our country’s healthcare system by supporting innovative solutions that are affordable, dependable, personalized and understandable.
The Covid pandemic revealed health disparities that still exist. For example, according to the Centers for Disease Control and Prevention, Hispanics are 50% more likely to contract Covid and twice as likely to die from it compared to other Americans.
In the Hispanic community, family is the top concern with health not far behind, but research shows Hispanics feel overwhelmed when it comes to their own health. Most believe their health could be better and they hunger for information. However, it should come as no surprise that Hispanic families have distinctly different health care needs. Chronic diseases plague Hispanics. Again, from the CDC, we learn that 40% of Hispanics suffer from chronic diseases. They are more likely to be obese and nearly twice as likely to suffer from diabetes or chronic hepatitis C.
Complicating this is that many Hispanics still lack insurance. Despite gains from the Affordable Care Act, nearly one in five have no insurance. Lack of insurance means difficulty accessing care requiring Hispanics to rely more on emergency rooms and pharmacists for medical care and advice instead of having a regular family doctor.
Health care issues ripple through the whole family. Consider this, having a sick family member often means that the “bread winner” must take a day off to transport someone to the doctor. That means loss of income and even threatens job security as many do not have paid sick leave.
The unique combination of needs, cultural beliefs and family values among Hispanics means that marketers must consider them differently to address this growing market opportunity. According to the IHS Global Insights Report for 2021, spending on healthcare in general is expected to grow 119% from 2015 to 2025 (compared to 79% for Non-Hispanics), and spending on prescription drugs is forecast to grow even more (157% compared to 102% for Non-Hispanics).
I also interviewed Sandra Auren, an experienced strategist and consumer insights specialist to get a better handle on Hispanic attitudes towards healthcare. Here are 4 cultural behaviors she recommends marketers consider as you plot the Hispanic consumers’ path to purchase.
Healthcare Literacy is Low: Information is presented in language that is hard for Hispanics to understand. This stress means they are more likely to rely on familiar remedies that may not be as effective. They use the internet and social media to close the information gap and feel more comfortable before visiting a provider.
Hispanics Value Personal Interaction: They gravitate towards more personal healthcare relationships to reduce intimidation. This makes them more comfortable asking questions. Doctors are authority figures who can be intimidating. Compounding this, there is often a language barrier leading to embarrassment and misunderstandings.
Hispanics Rely on Walk-In Clinics and Pharmacies: They are more likely to visit a retail based clinic or pharmacy that does not require an appointment since time off from work would be a deterrent, and a local provider is not only nearby but familiar.
Pharmacists Play A Key Role: Local pharmacists are a reliable source of information for prescription medication as well as advice on medication available over-the-counter compared to non-Hispanics.
These four cultural behaviors generally apply to Latinos. However, Dr. Molina warns that Hispanics are not one mass target. There may be differences based on home country, geography and income that must be taken into consideration in order to be effective when marketing to this audience. While this flu season is an appropriate time to explore Hispanic marketing opportunities, the issues raised here reflect a year round growth opportunity when done right. Be well.
About Roberto Orci
Roberto is a marketing and advertising executive who provides leadership and guidance to take companies to the next level. He is a recognized leader and founding member of the ANA’s Alliance for Inclusive and Multicultural Marketing (“AIMM”) and he is Managing Partner at The Ant Society, a multicultural agency headquartered in Los Angeles. Roberto can be reached at roberto@theantsociety.com.
