How Consumers Pay For Elective Medical Procedures
Tens of millions of Americans each year either undergo elective medical procedures or fund them for others. This accounts for billions in annual spending and represented just under 10 percent of the nation’s $3.6 trillion in prepandemic healthcare spend. This report examines the market potential as well as available payment choice in elective medical procedures.
A collaboration with Paya
Key Findings Inside The Report Include
- 9 percent: Share of consumers who considered elective care but opted out because they could not afford it
- $18.4B: Potential revenue healthcare providers could gain by offering payment plans for cosmetic surgery
- 9 percent: Portion of consumers who paid for at least one elective procedure in the past six months whose cost significantly applied to their deductible