July 30, 2019

Self-Pay Services: The Next Big Thing In the Healthcare Field

With insurance policies becoming trickier to navigate, more people are opting to use self pay healthcare as a means of purchasing the services that they desperately need. In fact, numerous companies throughout the country -- Rethink My Healthcare being one of them -- are using pay-up-front services to engage a larger patient base with impressive success rates. If you are in need of a healthcare service or you simply want to save money every month, these are the facts that you need to know.

Revenue Generation for Healthcare Facilities

When most business owners and professionals discuss direct pay healthcare options, the conversation usually steers towards negative connotations about being paid for their time and effort. Although there are certain instances where this may be true, new statistics now show that many patients that choose to pay for their procedures and services out of pocket generate most of a practice's revenue.

A new study released by Healthcare Finance broke down the total revenue generated from patients within the healthcare sector. According to their findings, nearly 80% of their total annual revenue was derived from patients that did not have a health insurance policy. The statistics further go one to showcase that the eighty-percent margin was generated by a mere thirty percent of their active patients. This means, in a broad view, that uninsured patients are breathing life and much-needed profits back into the facilities in which they use. These profits allow healthcare facilities to thrive, hire more employees and service a broad range of patients within their respective areas.

Client Preference

These data points also illustrate that more of the general population, regardless of their age or gender, are opting to pay for procedures and services on a must-have basis. People are tired of paying expensive premiums for packages that they may never use in the future. Not only does this create a conflict of interest with would-be patients, it also creates a financial burden for lower income individuals. Instead, these patients are saving their hard-earned dollars for a time in the future in which a medical emergency arises.

Hearing facts like this may make readers feel as though this is all hearsay. However, new data from the United States Census Bureau reveals that more of the general population are steering away from traditional health insurance policies to cover their expenses. According to a study in 2017, nearly twenty-five-million citizens within the United States are uninsured. A large majority of these individuals were opting to use self pay healthcare as a means to fund their procedures and services as they matured in age.

Should You Self Pay?

If you or someone that you know is in a position where they need medical services in the upcoming future, direct pay healthcare may be your solution. Although each case in unique and each patient has their own set of circumstances, it seems that more of the general population are paying for their procedures on an as-needed basis.

If you would like to set up a consultation, we would love to help! At RethinkMyHealthcare.com we work with patients to form products and solutions for their medical needs. We provide an extensive array of medical treatments that range from dental, therapy, psychiatric, surgery and much more. We are also available to answer any and all of our client's question of a twenty-four hour basis should they need assistance. We also provide discounted medications, prescription costs and fixed-price procedures that are affordable regardless of the clients income level. Please reach out to us today for self pay services that cannot be matched!

Our plans provides discounts at certain providers for healthcare, wellness, and lifestyle services. Members must pay for all services at the time of service, but will receive a reduced price from those providers who have contracted with the program operator. Providers may not be available in all locations. Offers are subject to change without notice.