ANNUAL STUDY
Healthcare Affordability In America Report
PayZen surveyed over 1,000 consumers about healthcare affordability, and it’s clear they want to pay their medical debt. But the bills are simply unaffordable, affecting more than just their bank accounts in the present.
2024 HEALTHCARE AFFORDABILITY RESEARCH
The average American can afford $97 per month for out-of-pocket medical expenses.
KEY FINDING
For most consumers, paying for medical care is a priority
Though three-quarters of consumers are worried about affording unexpected medical expenses, when given some hypothetical situations, respondents demonstrated that they are willing to pay for care with an affordable payment solution.
91% say they’d cancel a planned vacation to cover a significant medical bill.
36% skipped or postponed needed medical care in the last 12 months because of the cost alone, and 49% of this group said that their health problems worsened as a result.
KEY FINDING
There is a need and desire to make patient payments over extended periods
There are myriad approaches to dealing with rising healthcare costs, but there is consensus that patients would have no problem paying off large bills if they had access to a solution that would help pay medical expenses over a longer period.
81% say the ability to spread payments over a term longer than a year would positively affect loyalty to their healthcare provider.
