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

May 9, 2019

DUBLIN--(BUSINESS WIRE)--May 9, 2019--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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ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Related Topics:Managed Care

KEYWORD: UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: HEALTH GENERAL HEALTH

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 05/09/2019 01:51 PM/DISC: 05/09/2019 01:51 PM

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