Survey reveals nearly all consumers view loan programs as important in healthcare provider choice

Healthcare organizations may attract more patients by offering and promoting long-term loan programs to cover medical expenses, according to a ClearBalance Healthcare Consumerism study.

The study, administered by healthcare market research firm Porter Research, involved more than 4,000 consumers.

Here are four findings from the study.

1. Telephone is the preferred method of communication with a healthcare provider about cost of care for nearly half of consumers (47 percent). Telephone was chosen over email, text and online chat.

2. Consumers view cost of care as a key factor in healthcare decisions, the study found. A majority of respondents (73 percent) will ask their healthcare provider for estimated out-of-pocket costs prior to care, and nearly all respondents (92 percent) said medical expenses require financing of more than 12 months.

 

3. Nearly all consumers (90 percent) also said they are likely to return to a healthcare provider that offers a loan program, according to the study. Furthermore, 88 percent will recommend the healthcare provider to friends and family.

4. Similarly, 95 percent of consumers reported it's important they be able to access a loan program through their healthcare provider.

Access the full study results here.

 

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