United States Out-of-Pocket Healthcare Expenditures 2021 and Efforts to Contain Out-of-Pocket Spending - ResearchAndMarkets.com

The "Out-of-Pocket Healthcare Expenditures in the United States, 5th Edition" report has been added to ResearchAndMarkets.com's offering.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, July 26, 2021
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Tags: 
Professional services, Public policy, Government, Healthcare reform, Health, Other Health, Finance, Health Economics, OOP, Out-of-pocket expense, Articles, Health care prices in the United States, Health, Microeconomics
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United States
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Summary
Key Points: 
  • The "Out-of-Pocket Healthcare Expenditures in the United States, 5th Edition" report has been added to ResearchAndMarkets.com's offering.
  • A variety of demographic, business, and government trends are contributing to rising out-of-pocket (OOP) healthcare expenses in the United States.
  • This report examines these trends in detail, focusing on the financial aspects of OOP spending growth and quantifying the growth of OOP spending with forecasts of total expenditures and specialized healthcare financing.
  • The report examines past, current, and future levels of U.S. out-of-pocket healthcare expenditures both in total and as specific sub-groups (by type, by payment method, by elective vs. non-elective).


The "Out-of-Pocket Healthcare Expenditures in the United States, 5th Edition" report has been added to ResearchAndMarkets.com's offering.

A variety of demographic, business, and government trends are contributing to rising out-of-pocket (OOP) healthcare expenses in the United States. This report examines these trends in detail, focusing on the financial aspects of OOP spending growth and quantifying the growth of OOP spending with forecasts of total expenditures and specialized healthcare financing.

The report examines past, current, and future levels of U.S. out-of-pocket healthcare expenditures both in total and as specific sub-groups (by type, by payment method, by elective vs. non-elective). Through the next five years, total consumer out-of-pocket expenditures for healthcare are expected to continue rising, with trends established over the past several years continuing through the foreseeable future. The report presents the following data points:

  • Growth of Consumer Out-of-Pocket Expenditures 2015 - 2025, in $ Billion
  • How Consumer Out-of-Pocket Expenses Are Financed in 2020 (%) (Credit Cards, Cash or Check, FSAs, Loans or Lines of Credit, Healthcare Financing, HSAs)
  • Consumer Out-of-Pocket Expenditures Paid with Specialized Healthcare Financing 2015 - 2025, in $ Billion

In 2020, U.S. consumers financed many different types of healthcare expenses; these can broadly be grouped into two categories: elective procedures including over-the-counter (OTC) medications and non-elective procedures including prescription drugs. These types of procedures are distinct, and discussed separately within the report.

Elective procedures are those that are not strictly necessary to address a medical condition. They are thus not covered by medical insurance and their utilization is discretionary on the part of the consumer. The amount of non-elective healthcare and prescription drug expenses financed by individual consumers varies widely, although a very large proportion of consumers must finance some expenditures.

Consumers from all socioeconomic groups are facing high out-of-pocket expenditures for healthcare. Certain groups are more vulnerable than others to having trouble paying their medical bills and represent a larger proportion of this spending. These include the uninsured and underinsured, Medicaid recipients, disabled persons, senior citizens, the mentally ill, obese persons, people suffering from drug or alcohol addiction, persons with chronic medical conditions.

The strong growth in U.S. out-of-pocket spending is the result of a preponderance of market drivers, which are mitigated by relatively few market restraints. The report shows leading drivers and restraints of consumer out-of-pocket healthcare spending, in order of strength, across the market:

  • Drivers & Restraints of the Consumer Out-of-Pocket Spending Market
  • Drivers & Restraints of Direct Pay and Co-Pay Expenditures
  • Drivers & Restraints of Credit Cards, Cash/Check, FSA, Loan/Line of Credit, Healthcare Financing Program and HSA Expenditures
  • Drivers & Restraints of Elective Procedure Out-of-Pocket Expenditures
  • Drivers & Restraints of Non-Elective Procedure Out-of-Pocket Expenditures
  • Drivers & Restraints of Specialized Healthcare Financing
  • Drivers & Restraints of Specialized Healthcare Financing for Elective Procedures
  • Drivers & Restraints of Specialized Healthcare Financing for Non-Elective Procedures

     

Key Topics Covered:

Chapter 1: Executive Summary

Chapter 2: The U.S. Healthcare System in 2021

Chapter 3: U.S. Out-of-pocket Expenditures

Chapter 4: Consumer Out-of-Pocket Spending Forecasts in the U.S.

Chapter 5: Specialized Healthcare Financing

Chapter 6: Specialized Healthcare Financing Forecasts

Chapter 7: Efforts to Contain Out-of-Pocket Spending

Chapter 8: Company Profiles

  • Ajeva
  • Aurora Quick Care
  • CareCredit
  • CareSpot
  • ClearBalance
  • ClearGage
  • Concentra
  • Denefits
  • E-Financing Solutions
  • FastMed
  • Lending Club Patient Solutions
  • LendingUSA
  • MinuteClinic
  • NextCare
  • PatientFi
  • Prosper Healthcare Lending
  • RediClinic
  • Reliance Medical Financial
  • SimpleSelect Patient Finance
  • S. HealthWorks
  • Wells Fargo

For more information about this report visit https://www.researchandmarkets.com/r/u68ih0

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