Alphaeon survey reports that patients delay or skip medical care due to cost
Respondents also reported difficulty paying medical bills and expressed interest in easier payment options, including financing offered through care providers.
Alphaeon released results from a recent survey indicating that a majority of respondents have delayed or skipped medical care because of cost. In the same survey, a similar share reported having difficulty paying a medical bill in full or on time.
According to Alphaeon, 58.6% of respondents said they had delayed or skipped medical care due to cost, and 59.6% said they had difficulty paying a medical bill in full or on time.
“Too often, cost stands between patients, their dependents and pets and the care they need,” said Thomas Ervesun, chief executive officer of Alphaeon. “While healthcare providers might not be able to lower prices, they can do more to make paying for care easier.”
The survey also found that 89% of respondents said they wanted an easier way to pay medical bills. More than half of respondents (59.4%) reported paying for a medical bill using a credit card.
Alphaeon said awareness and understanding of patient financing varied among respondents. While 62.2% said they were aware some care providers offer patient financing, 17.8% said they understood it, and about half said they had only a general idea of how it works.
When asked about potential use of financing offered through a care provider, 53.8% of respondents said they would be extremely or somewhat likely to use it. In addition, 57.4% said they strongly or somewhat agreed with the statement that patient financing makes healthcare more affordable and accessible.
Respondents also identified the types of care they would be most likely to finance:
- Dental: 69.8%
- Veterinary: 32.6%
- Cosmetic: 17.6%
- Audiology: 9.4%
- Other: 21.2%
Alphaeon said it provides a multi-lender platform intended to help practices offer patients a range of financing options. The company said it works with providers in dental, cosmetic, vision, veterinary, and audiology care.
Survey details
Alphaeon said the survey included 500 respondents and was conducted in mid-December.
About Alphaeon
Alphaeon is a third-party healthcare financing company that provides a multi-lender platform for practices in areas including dental, cosmetic, vision, veterinary, and audiology care.
