As inflation cuts into every aspect of affordability, consumers are not just cutting back on nonessentials, they’re also canceling medical appointments due to cost concerns.
For The Healthcare Conundrum: The Impact of Unexpected Patient Costs on Care, a PYMNTS and Experian Health collaboration, we surveyed nearly 2,500 consumers and found an alarming percentage of consumers backing out of scheduled medical visits over costs.
The group most likely to be canceling doctor appointments for financial reasons are those living paycheck to paycheck and struggling to meet monthly household expenses, which puts an added squeeze on necessities like medical appointments and tests.
Per the study, “in the past 12 months, 32% of U.S. patients have scheduled a doctor’s appointment and then canceled it and that those living paycheck to paycheck with issues paying their bills were the most likely to do so, at 56%. Just 29% of consumers not living paycheck to paycheck have scheduled an appointment and later canceled it in the past 12 months.”
Get the Study: The Healthcare Conundrum: The Impact of Unexpected Patient Costs on Care
We found that inaccurate or high estimates are a major reason that consumers cancel scheduled doctor visits, as inflation eats larger chunks of their paychecks and savings too.
The study states that “Financial health impacted these decisions: 60% of those living paycheck to paycheck with issues paying their bills had canceled an appointment because of high cost estimates, whereas 25% of those not living paycheck to paycheck did the same.”
See It Now: The Healthcare Conundrum: The Impact of Unexpected Patient Costs on Care
