Impact of Out-of-Pocket Costs on Patients

Impact of Out-of-Pocket Costs on Health Outcomes and Utilization. This video contains key highlights of a SimplePay Health Webinar: 1. Average Individual Deductible on an Employer-Sponsored Health Insurance Plan is $1,763... Up 61% in 10 Years. 2. 1/3 of Workers have a Individual Deductible of Greater than $2,000. 3. 40% of Adults Delayed or Went without Care in the Previous Year Due to Out-of-Pocket Costs. 4. 1/4 of Cancer Patients Go without Care, Delay Care or Change Treatment Because of Out-of-Pocket Costs. 5. 40% of Cancer Patients Spend their Entire Life Savings within Two Years of a Cancer Diagnosis. 6. 32% of Households are Unable to Pay for a $500 Unexpected Expense with their Savings. High Out-of-Pocket Healthcare Costs Limit Access to Care that Reduces Suffering and Prolongs Life. An Alternative is to Eliminate the Deductible and Spread Out the Copays Over 12-month Payment Periods. Those Copays can then be set at different dollar amounts to steer patients to higher-quality, lower-priced doctors and hospitals. Sources: https://www.kff.org/report-section/eh... https://www.kff.org/health-costs/issu... https://www.statnews.com/2023/05/23/f... https://www.jacc.org/doi/10.1016/j.ja... https://www.washingtonpost.com/busine... AHealthcareZ is 200+ Healthcare Finance Educational Videos. 💥 BOOK: Check out Dr. Bricker’s Book 16 Lessons in the Business of Healing here: https://www.ahealthcarez.com/healthca... AHealthcareZ Viewers Include: Employee Benefits Professionals, HR, CFOs, Insurance Brokers, Benefits Consultants, Doctors and Nurses in Leadership Roles, Hospital and Health System Administrators, Health Insurance Carrier and PBM Professionals, Pharma and Med Device Professionals, Academic Professors and Students in Healthcare Administration and Public Health. 90,000+ Views Per Month Across All Platforms. Visit AHealthcareZ.com to Subscribe to the Healthcare Finance Video Newsletter.