Rising affordability issues shift Aussies to digital health payments

New research by CommBank Health has shed light on the increasing role of digital solutions in the realm of healthcare payments. As affordability concerns continue to hold the spotlight among Australian patients, medical providers are presented with opportunities to align their services with evolving patient preferences.

The newly released CommBank Patient Experience Insights report reveals that affordability concerns have led to 71% of Australian patients delaying or cancelling healthcare appointments over the last year. Routine medical check-ups and specialist consultations following a GP referral have also been put on hold by almost a third (28%) of the patients. This trend appears to be highest among Generation X patients, a group found to be most cost-conscious, with 40% of them avoiding healthcare appointments due to affordability constraints.

Albert Naffah, CEO of CommBank Health, reflected on these findings, admitting that while these trends were concerning, they also revealed a silver lining. He said, "Australians are reverting to the saying 'prevention is the best cure', with 39% of them adopting healthier lifestyles to reduce consultations. This move towards a healthier lifestyle is most prevalent among Generation X at 43%."

While affordability in the current cost of living environment remains a major factor in patients skipping or delaying healthcare appointments, the report suggests other forces at play as well. Two-thirds (65%) of patients have faced issues with payments and claims over the past year, further pushing them to avoid the doctor or dentist.

The findings of the CommBank Patient Experience Insights report indicate a discernible shift towards affordability and accessibility of healthcare services, increasingly influencing the decisions and preferences of Australian patients. As technology continues to grow, the integration of digital solutions for healthcare payments finds itself at the forefront, offering potential solutions for providers to sync their services with patient preferences more effectively.

This presents an opportunity for healthcare providers and related businesses to explore innovative, patient-focused solutions. By recognising the evolving expectations of patients around the cost-efficient delivery of services and improving the payment and claim process, they might be able to bridge the gap in affordability and accessibility, ensuring necessary healthcare services are within the reach of all Australians.

The researcher, CommBank Health, refers to the health division of the Commonwealth Bank of Australia (CommBank). Commonwealth Bank is one of Australia's largest financial institutions, offering a wide range of banking and financial services to individuals, businesses, and institutions. CommBank Health focuses specifically on providing financial solutions and insights tailored to the healthcare sector, including healthcare payments, claims processing, and other related services. They may conduct research, release reports, and develop products aimed at addressing the unique needs and challenges within the healthcare industry.