For the findings, the institute surveyed more than 2,500 Americans between April 2 and 8. What the institute found is 32 percent of respondents have already adjusted or were planning on adjusting their healthcare spending for visits because of COVID-19. Twenty-two percent of respondents said the same about medication spending.
Consumers who were more likely to say they would adjust their healthcare spending were those with complex chronic illnesses and those in healthy families.
The institute outlined what the implications of adjustments in healthcare spending could mean: “Delaying procedures, reducing spending on preventive care and chronic care, and decreasing adherence to medications may have negative long-term impacts on health status, although the extent is unknown.”
Read the full survey findings here.
More articles on healthcare finance:
25 hospitals getting biggest slice of $12B federal bailout fund
14 health systems receiving biggest CARES Act payments
CMS’ proposed inpatient payment rule for 2021: 8 things to know
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.