By Robin Stride
Independent practitioners are being exhorted to seize new opportunities in 2020 as the market enters a new decade of price transparency and consumer choice.
The advice comes as a new report reveals:
One in four private patients now self-fund their treatment;
Self-pay revenue grew an average of 7.4% a year in real terms between 2014 and 2018;
21% of independent acute medical hospital revenue in 2018 came from UK-based self-payers, equivalent to a market of £1,105m.
LaingBuisson’s Private Healthcare Self-Pay UK Market Report, second edition, says growth is driven by NHS waiting lists, a more consumer-focused private healthcare sector and demand management by NHS clinical commissioning groups.
It finds a ‘buoyant and growing market’ worth £1.1bn for independent hospitals and clinics in 2018 compared to £527m in 2013.
According to report author and LaingBuisson consultant Liz Heath, there is now a greater need than ever for consultants to engage proactively with providers to design and deliver self-pay pathways.
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