It’s not like a global pandemic with mandated lockdowns and a leaky economy haven’t triggered enough panic attacks among beleaguered citizens.
Now America has a new crisis that combines medical care and money – fear of going to the doctor over financial concerns.
A new study by MyVision.org notes the emergence of a “procrastination nation”, where four out of 10 U.S. adults won’t go to their local medical care center because of cost concerns.
“The trend varies from specialty to specialty, but one thing is clear, the majority of Americans (61%) admit to procrastinating when it comes to their health,” the MyVision report stated.
More from the study:
- The top three procrastination justifications include expense, failure to “get around to it” and general dislike of doctor appointments
- 53% delayed medical care due to the pandemic
- 44% are overdue for their annual checkup while 13% are overdue for their shots
Personal Savings an Issue
While health care consumers can hardly be blamed for rising medical costs, patients aren’t doing themselves any favors by not preparing financially for doctor visits. That’s especially the case with annual check-ups, where major illnesses can be diagnosed before they can do any significant health damage.
Yet many Americans don’t save enough money for preventive care.
In fact, according to HSA Bank’s 2022 Health & Wealth Index Survey, 52% of respondents indicated they rarely or never save for future medical expenses.
Additionally, only 16% of US adults have addressed healthcare-related costs in savings in the past year, leaving them in the lurch when actual medical costs – like doctor visits – show up in the monthly budget as an expenditure.
One big issue that’s leading to fewer doctor visits is the rising cost of actually becoming a physician. That scenario is causing doctors to raise practice prices to cover their business and medical training development costs and pass those expenses along to patients.
“It's very expensive to become a physician,” said Transitions Care chief executive officer Jim Palazzo. “When you factor in malpractice insurance and the cost to build out and operate a physical office, it all becomes very expensive.”
There’s more. Physicians are also often asked to give significant discounts for insurance, Medicaid, and the lack of copays.
“Consequently, doctors either have to see an increased number of patients a day or they increase your rates,” Palazzo said. “This is especially true in primary care.”
Gaining Financial Ground for Doctor Visits
If you want to visit your doctor, but can’t pay, you can still get the care you need, healthcare experts say.
“Going to a physician extender, a nurse practitioner can be a cheaper option,” Palazzo said. “Separately, you can try to negotiate a rate with a primary care physician, and ask for a rate that will be palatable for you.”
Going digital for physician visits can also save money.
“There has been a big push for people to do telehealth in the home setting,” Palazzo noted. “Over the next three to five years there’ll be major growth in this area, especially with primary care and mental health. Visits on demand will help to unburden the system and the truth is, most illnesses can be diagnosed via Telehealth.”
At Transitions Care, patients have embraced Transitions Care TV where they can get comprehensive care by visiting with a physician remotely through their television.
“For us, it allows remote patient monitoring where we can monitor our senior patients' health without them needing to go out of their way,” Palazzo said. “It's a game-changer for seniors with chronic conditions. It allows our physicians to monitor and prevent exacerbations which in turn prevents unnecessary hospitalizations.”
Medicare recipients are especially prone to missing doctor appointments over financial cost issues – but there’s a remedy for that, too.
“Many Medicare beneficiaries end up finding it too expensive to go to the doctor because they've chosen a plan with insufficient coverage for their needs,” said Chapter licensed Medicare expert Ari Parker. “After enrolling in a new Medicare option, they may find visiting their usual doctor costs much more than it used to, so they stop going to the doctor at all.”
“They may also find that their plan doesn't cover the drugs their doctor may prescribe them, causing them to feel a lack of control over their own health,” Parker noted.
Parker said he talks to people every week who fear going to the doctor because of the cost.
“Luckily, there are steps they can take, like talking to an independent advisor about switching to a different Medicare plan,” he added.
