Survey results show 41% of consumers need help understanding medical bills, while one out of three want better financial communications.
CHARLOTTE, N.C. – Oct. 13, 2021 – When it comes to paying for healthcare costs, consumers want three things: affordable monthly payment options (60%), clear communication (58%) and transparency around out-of-pocket costs (55%), according to a recent survey commissioned by AccessOne, a leading provider of patient financing solutions designed to help consumers better manage their healthcare costs.
The survey results also reveal that, as COVID-19 impacts many Americans’ incomes, consumers need greater clarity and support from providers in managing their healthcare expenses:
- Forty-one percent are confused about the portion of the bill that their insurance will cover.
- Thirty-nine percent are only somewhat satisfied or not at all satisfied with the quality of communications around how to pay for healthcare costs.
- Forty percent are only somewhat satisfied or not at all satisfied with affordable options for payment—and one out of three say communication regarding available payment plans for their bill could be improved.
“Without clear communication around out-of-pocket costs and options for payment prior to service, patients are more likely to delay healthcare payment, or worse delay care altogether,” says Mark Spinner, CEO of AccessOne. “The pandemic has been hard on both patients and providers. Healthcare organizations need solutions that relieve overworked staff while streamlining financial communication workflows and providing greater flexibility for patient payments. These solutions will help enable patients to seek needed medical care while maintaining a strong bottom line.”
Key findings from the survey include the following:
- More than half (57%) of consumers are concerned about their ability to pay a medical bill of $1,000 or less.
- Sixty-two percent want to discuss payment plan or financing options prior to a procedure.
- More than half of consumers (58%) delayed medical care to avoid a healthcare bill—and one-in-three have done so in the past year.
- Consumers continue to shop around for care to get the most value for their healthcare dollar. Seventy-one percent of respondents would shop around for care, and 36% already have.
The report includes findings from two surveys commissioned by AccessOne and conducted by Engine Insights. Engine Insights surveyed 1,004 people from August 18-20, 2021, and 1,006 people from July 21-23, 2021. All responses were weighted by age, sex, geographic region, race and education to ensure accurate representation of the total U.S. adult population.
To see the full report, click here.