Out-of-Pocket (OOP) Healthcare Expenditures in the United States 2019 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Out-of-Pocket
Healthcare Expenditures in the United States”
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 2014 – 2024, in $ Billion
  • How Consumer Out-of-Pocket Expenses Are Financed in 2019 (%) (Credit
    Cards, Cash or Check, FSAs, Loans or Lines of Credit, Healthcare
    Financing, HSAs)
  • Consumer Out-of-Pocket Expenditures Paid with Specialized Healthcare
    Financing 2014 – 2024, in $ Billion

Types and Amounts of Expenses Financed

In 2019, 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. The report
provides the following data:

Methods of Financing Elective Procedures, 2018 (Credit Cards,
Cash or Check, Healthcare Financing Programs, Loans or Lines of Credit)

  • Average Share of Non-Elective Healthcare Expenses Paid Out-of-Pocket
    by Percentile of Total Health Spending, 2018 (Top 1st, 1st to 5th, 5th
    to 10th, 10th to 20th, Lowest 80th)
  • Average Share of Non-Elective Healthcare Expenses Paid Out-of-Pocket
    by Type of Service, 2018 (Hospital, Outpatient, Office Based Visit,
    Prescription Drugs, Emergency Room, Dental, Home Health, Vision, Other
    Health Care)
  • Average Share Paid Out-of-Pocket by U.S. Residents by Percentile of
    Total Health Spending and Type of Service, 2018 (in top 5%: Hospital,
    Outpatient, Office Based Visit, Prescription Drugs, Emergency Room,
    Dental, Home Health, Vision, Other Health Care; in top 10% to 5%:
    Hospital, Outpatient, Office Based Visit, Prescription Drugs,
    Emergency Room, Dental, Home Health, Vision, Other Health Care; in top
    20% to 10%: Hospital, Outpatient, Office Based Visit, Prescription
    Drugs, Emergency Room, Dental, Home Health, Vision, Other Health Care;
    in bottom 80%: Hospital, Outpatient, Office Based Visit, Prescription
    Drugs, Emergency Room, Dental, Home Health, Vision, Other Health Care)
  • Distribution of Out-of-Pocket Healthcare Spending for the Average
    Person, 2018 (Hospital, Outpatient, Office Based Visit, Prescription
    Drugs, Emergency Room, Dental, Vision, Other Health Care)
  • Drug Cost Coverage by Payor Type (Public, Private, Cash) 1965, 1985,
    2000, 2005, 2010, 2018

Company Profiles

A large number of companies help consumers pay their out-of-pocket
medical expenses and/or significantly influence those expenses. Most
companies that provide patient financing focus on funding elective
procedures, with a smaller number offering financing for non-elective
therapies and providing other financial services. While companies
participating in the credit card, and lines/lines of credit segment are
numerous and do not specialize in healthcare products, the companies
operating in the specialized healthcare financing are highly focused on
financing medical and dental expenses. In general, the market is very
dynamic, with many players entering and exiting. The report provides
profiles of players in the market, noting history and lines of business,
financial information, and relevant business operations.

Companies Mentioned

  • 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
  • U.S. HealthWorks
  • Wells Fargo

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

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