The news: One-third of US adults have cut back on everyday expenses in the past year to afford healthcare, according to survey data from the West Health-Gallup Center on Healthcare.
Among the trade-offs: 15% stretched prescriptions by skipping or splitting doses or delaying refills, 15% borrowed money, and 11% skipped meals or drove less. 26% also postponed surgical or medical treatment because of healthcare costs, delays that can worsen health conditions and drive higher long-term healthcare spending.
Why it matters: Healthcare affordability pressures are influencing consumer decisions beyond medical care. Rising costs are forcing consumers to cut everyday spending and delay major life decisions.
29% of US adults postponed taking a vacation, while 18% put off changing jobs because of healthcare costs over the past four years, according to West Health-Gallup.
While lower-income households are often more affected by healthcare costs, the impact extends well beyond them. About half of households earning $90,000-$180,000 postponed life events due to healthcare costs, as did 25% of households earning $240,000 or more.
Implications for healthcare and pharma: As patients weigh healthcare costs against other financial priorities, affordability is becoming a critical factor in treatment adherence.
Healthcare providers and pharma companies that reduce out-of-pocket costs and clearly communicate available financial support may have an advantage keeping patients in treatment. Copay assistance, transparent pricing, and lower-cost care options can help reduce medication rationing and delayed care.
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