U.S. Health Care Price Index Shows Cash Pay Medical Care Prices Continuing to Decrease
NEW YORK, March 9, 2023 /PRNewswire-PRWeb/ -- Released today, the latest U.S. Health Care Price Index, the first national resource to publicly document the price of cash-pay medical care in America and is powered by Sesame, shows that prices in February 2023 for cash pay health services were lower or flat to prices in January 2023, with the exception of COVID-19 screenings, which saw a 2% increase in price.
In February 2023, prices for all manners of care, except COVID-19 screenings, remained steady or decreased MoM; macro-level data shows similar affordable trend
NEW YORK, March 9, 2023 /PRNewswire-PRWeb/ -- Released today, the latest U.S. Health Care Price Index, the first national resource to publicly document the price of cash-pay medical care in America and is powered by Sesame, shows that prices in February 2023 for cash pay health services were lower or flat to prices in January 2023, with the exception of COVID-19 screenings, which saw a 2% increase in price.
Over the past six months (September 2022-February 2023), USHPI pricing data demonstrates a similar trend – with health services including primary care telehealth, mental health, dermatology, women's health and more becoming increasingly affordable, despite some minor fluctuations on a monthly basis. During the same period, COVID-screening prices saw more variation, likely mapping to the virus' ebbs and flows.
Looking closer at the past six months, mental health consult prices in February 2023 were 7.5% lower than their September 2022 high, with a national average price of $44.59. These price fluctuations could be a function of increased demand for behavioral health services, given the country's current mental health crisis. Primary care telehealth visits and prescription refill visits have held steady over the past six months, with prices hovering around $40-41. Conversely, COVID-19 screening prices in February 2023 were 9.1% higher than their low in November 2022, landing at a national average of $44.97 in February.
The USHPI features pricing data for routine medical services in all 50 states – from primary care and mental health to women's health and more – with additional prices and specialties to be added over time. In addition to regional and state comparisons, the USHPI tracks price variance and market trends on a monthly basis.
The entire USHPI database of monthly cash prices from May 2022-February 2023 can be found here: http://www.sesamecare.com/compare/ushpi.
WHAT IS THE CASH PRICE OF MEDICAL CARE?
Simply put, the cash price is what a doctor or health care provider charges a consumer when a third-party payer - like insurance or a government entity - is not involved in the transaction. This could be because a patient does not have insurance, has a high-deductible health plan or chooses to pay their provider directly, without involving a middleman.
WHAT ARE EXAMPLES OF RECENT CASH PRICES?
In February, the average cash price of a primary care telehealth appointment in the United States, with a doctor or nurse practitioner, was $40.85. Alaska was the most affordable state in which to book a visit ($34.00), and Mississippi was the most expensive at $70.52. Regionally, Western, Mid-Atlantic and Southern states paid below average for primary care appointments, whereas patients in the Northeast and Midwest saw higher than average prices.
Mental health visits in February averaged $44.59 across the country. Most affordable mental health consults that month were found in Nebraska and Arizona at $37.00 and $37.31, respectively; states paying the highest were Minnesota ($69.00) and Massachusetts ($99.00).
Americans who paid cash for a prescription refill appointment paid an average of $40.78 in February. Patients in Florida and Texas paid the least for an appointment, just $36.23 and $36.35, respectively. Highest prices were found in Mississippi ($64.70) and Arkansas ($60.75).
WHAT IS THE METHODOLOGY USED TO COLLECT THE DATA?
The data comes from Sesame, one of the largest cash-pay health services marketplaces in the United States. It covers the thousands of health care providers resident in the marketplace that charge cash prices for their services. Sesame analyzed thousands of primary care and specialty care appointments made on its platform, leveraging pricing data for patient appointments that occurred during February 2023.
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ABOUT SESAME
Sesame is building a radically new healthcare system for uninsured Americans and those with high-deductible plans. The company's marketplace replaces historically inefficient, expensive healthcare with a direct connection – either virtually or in-person – between patients and physicians. This direct connection enables Sesame to offer doctor visits, labs, imaging and prescription drugs at half the price. Founders include a Harvard PhD in health policy and economics; a former Goldman Sachs analyst; and entertainment executive and healthcare reformer David Goldhill, author of the legendary cover story in The Atlantic, "How American Health Care Killed My Father." Sesame has raised $75 million so far from investors that include GV, Virgin Group and General Catalyst. The company was ranked #1 by Healthline for overall care in 2021 and 2022. For more information, please visit http://www.sesamecare.com.
Media Contact
Liz Murphy, Sesame, 1 5086542007, [email protected]
SOURCE Sesame
