Practice Management
Apparently, patients don’t see a need to pay Cadillac prices for the “Cadillac” of healthcare services (wherever they may exist). Most participants in a new report published in Health Affairs don’t associate higher cost with higher quality when it comes to making healthcare decisions—a departure from the expected consumer mindset when it comes to buying other goods and services. Among the questions included in the survey: “Would you say higher prices are typically a sign …
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Healthcare costs are proving to be the ruin of too many people in the U.S., highlighting the need for urgent care to present itself as a viable, high-quality alternative to budget-breaking trips to the emergency room. Facts: Medical bankruptcy, which affects 2 million people, has become the leading cause of personal bankruptcy in the U.S., and roughly 20% of adults have trouble affording medical care, according to NerdWallet.com. With as many as eight out of …
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A breakdown of consumer spending from the Bureau of Labor Statistics supports the notion that the high cost of healthcare encourages patients to seek care in less traditional settings like urgent care. Data for 2012–2014, the most current available, show that 19 percent of total healthcare spending is out of pocket—and that figures is still on the rise. With an increase of 20.6%, increases in total spending for healthcare far outpaced income before taxes (up …
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Families in the U.S. could be spending up to 45% of their household income on healthcare costs within the next two decades, according to a new study from the Pioneer Institute of Boston. The best-case scenario, according to the report, would be that health-insurance premiums rise by 4% annually, along with the same rate of increase for out-of-pocket costs. By 2035, those expenses would consume nearly a quarter of the family’s budget, up from 16% in …
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