Consumers Are So Over Their Paper Chase in Health Care Payments
As we start the month of April 2024 in the U.S., it’s tax season in America with Federal (and other) income taxes due on the 15th of the month. This is also the time my research clock alarm goes off for an important annual report that describes the latest profile of the patient-as-payer in the U.S. ‘Tis the season for J.P. Morgan’s InstaMed team to analyze health care payments data, describing the experiences of consumers, providers and payers in the Trends in Healthcare Payments Fourteenth Annual Report. The overall takeaway for
Peering Into the Hidden Lives of Patients: a Manifesto from Paytient and Nonfiction
Having health insurance in America is no guarantee of actually receiving health care. It’s a case of having health insurance as “necessary but not sufficient,” as the cost of deductibles, out-of-pocket coinsurance sharing, and delaying care paint the picture of The Hidden Lives of Workplace-Insured Americans. That’s the title of a new report that captures the results of a survey conducted in January 2024 among 1,516 employed Americans who received employer-sponsored health insurance. The study was commissioned by Paytient, a health care financial services company, engaging the research firm Nonfiction to conduct the study
The Women’s Health Gap Is Especially Wide During Her Working Years – Learning from McKinsey, the World Economic Forum, and AARP in Women’s History Month
There’s a gender-health gap that hits women particularly hard when she is of working age — negatively impacting her own physical and financial health, along with that of the community and nation in which she lives. March being Women’s History Month, we’ve got a treasure-trove of reports to review — including several focusing on health. I’ll dive into two for this post, to focus in on the women’s health gap that’s especially wide during her working years. The reports cover research from the McKinsey Health Institute collaborating with the World Economic Forum on
A Health Consumer Bill of Rights: Assuring Affordability, Access, Autonomy, and Equity
Let’s put “health” back into the U.S. health care system. That’s the mantra coming out of this week’s annual Capitol Conference convened by the National Association of Benefits and Insurance Professionals (NABIP). (FYI you might know of NABIP by its former acronym, NAHU, the National Association of Health Underwriters). NABIP, whose members represent professionals in the health insurance benefits industry, drafted and adopted a new American Healthcare Consumer Bill of Rights launched at the meeting. While the digital health stakeholder community is convening this week at VIVE in Los Angeles to share innovations in health tech, NABIP
Americans Come Together in Worries About Medical Bills, the Cost of Health Care, and Prescription Drug Costs
In the U.S., national news media, Federal statistics, dozens of business leaders and the Federal Reserve Bank have been talking about an historically positive American economy on a macro level. But among individual residents of the U.S., there is still a negative feeling about the economy in a personal context, revealed in the Kaiser Family Foundation Health Tracking Poll for February 2024. I’ve selected three figures of data from the KFF’s Poll which make the point that in peoples’ negative feelings about the national economy, their personal feelings about medical costs rank high
People With Medical Debt Are Much More Likely to Be in Financial Distress in America
How financially vulnerable are people with medical debt in the U.S.? Significantly more, statistically speaking, we learn from the latest survey data revealed by the National Financial Capabilities Study (NFCS) from the FINRA Foundation. The Kaiser Family Foundation and Peterson Center on Healthcare analyzed the NFCS data through a consumer health care financial lens with a focus on medical debt. Financial distress takes many forms, the first chart inventories. People with medical debt were most likely lack saving for a “rainy day” fund, feel they’re “just getting by” financially, feel their finances control their life, and
The Wellness Market Shaped by Health at Home, Wearable Tech, and Clinical Evidence – Thinking McKinsey and Target
Target announced that the retail chain would grow its aisles of wellness-oriented products by at least 1,000 SKUs. The products will span the store’s large footprint, going beyond health and beauty reaching into fashion, food, home hygiene and fitness. The title of the company’s press release about the program also included the fact that many of the products would be priced as low as $1.99. So financial wellness is also baked into the Target strategy. Globally, the wellness market is valued at a whopping $1.8 trillion according to a report published last week by McKinsey. McKinsey points to five trends
In 2024 U.S. Consumers Will Mash Financial Resolutions With Those For Physical Health and Mental Health, Fidelity Finds
One-third of U.S. consumers feel in worse financial shape now than in 2022, with inflation a top concern, discovered in the 2024 New Year’s Financial Resolutions Study from Fidelity Investments. In this 15th annual update of Fidelity’s research into Americans’ New Year’s resolutions for financial health, we learn the mantra that 2024 will be the year of living practically, opening new chapters for saving and paying down debt. Fidelity conducted an online poll among 3,002 U.S. adults 18 and over in October 2023 to gauge peoples’ perspectives on personal finances, and well-being currently and into 2024. This
I'm in amazing company here with other #digitalhealth innovators, thinkers and doers. Thank you to Cristian Cortez Fernandez and Zallud for this recognition; I'm grateful.
Jane was named as a member of the AHIP 2024 Advisory Board, joining some valued colleagues to prepare for the challenges and opportunities facing health plans, systems, and other industry stakeholders. Looking forward to AHIP 2024 in Las Vegas come June 11-13, 2024.
Join Jane at AHIP's annual meeting in Las Vegas: I'll be speaking, moderating a panel, and providing thought leadership on health consumers and bolstering equity, empowerment, and self-care.