Publication: FACTORS INFLUENCING CONSUMER’S DECISION ON SELECTION OF HEALTHY RETIREMENT ENVIRONMENT
Date
2020
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Publisher
International Medical University
Abstract
Introduction: Malaysian population is predicted to increase to 41 million people by year 2040 and ageing population is expected to increase to 14.5%. WHO emphasised on healthy ageing frame work and the need to study multiple factors such as financial support, medical care, life-long learning and evolvement of technology in relation to the selection of healthy retirement environment in Malaysia.
Objective: To determine the factors influencing customer’s decision and relationship on selection of healthy retirement environment
Methodology: This was a cross sectional study conducted in Greater Kuala Lumpur and Sabah. Samples were stratified using probability purposive sampling. Two thousand seven hundred and fifty cover letters and questionnaires were mailed or using WhatsApp electronically to selected respondents. Mail survey respondents returned 369 usable questionnaires yielding a 14.5% response rate. Results were analysed using structural model and the hypothesis testing.
Result: It was found that the factors influencing consumer’s decision showed that the perception towards financial planning, receptiveness towards health insurance and lifelong learning programme are positively related to selection of healthy retirement environment. Technology advancement is however not significantly related to healthy retirement environment.
Conclusion: To achieve provision of care for successful healthy ageing, this study showed that multiple services components namely perception towards financial planning, receptiveness towards health insurance and lifelong learning program provided by care provider are favourable components of retirement environment for elderly health. Although the results showed that technology advancement was not significantly related to healthy retirement environment, it is shown in other studies that it is an important part of the infrastructure of an institutional care provider to facilitate the services as a basic element for environment support. However, the concern on data privacy and the data protection should made priority to the residents for security and safety purposes.
Keywords: healthy retirement, healthy retirement environment, healthy ageing, financial planning, health insurance, lifelong learning program, technology advancement
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Keywords
Healthy Aging, Insurance, Health, Learning, Cross-Sectional Studies, Pensions