1 in 5 Medicare beneficiaries spend 1/2 or more than 1/2 of their monthly incomes on healthcare expenses

Statistic Info

Those healthcare expenses include premiums, prescription drugs, and other costs not covered through fee-for-service Medicare. However, for over a quarter of Medicare recipients, Medicare premiums were their highest healthcare costs.

Author: HealthPayerIntelligence

More Related Stats

Physician Practices

High rates of burnout is driving an expected shortage of up to 124,000 physicians in the U.S. by 2034

94% of patients would switch providers to access online scheduling options

Between 1990-2022, the number of osteopathic physicians has more than quadrupled from fewer than 25,000 to over 110,000

94% of patients noted a delay associated with Prior Authorization (PA), with 79% reporting that PA delays can lead to treatment abandonment

95% of patients said it is important for a physician to be involved in their diagnosis and treatment decisions

88.2% of medical groups are offering referral bonuses, up from 82.8% in 2023

In 2022, 31.2% of physicians reported they had been sued at some point in their careers. An average of 61 claims had been filed per 100 physicians

Physicians spend nearly 2 hours daily dealing with EHRs outside of working hours

20% of patients can get same- or next-day appointments when self-scheduling is available, and more than 50% can see their physician within a week

Corporate-owned practices have grown by 25% as independent private practices are bought out or abandoned in favor of hospital or corporately owned practices

Revenue Management

74% of Hospitals Use Some Revenue Cycle Automation

Affordable Care Act Marketplace Enrollment Up By 33%

Fewer Than 1 in 3 Consumers Pay Medical Bills Immediately

Medicare Advantage Denials Jump 56%, Commercial Denials 20%, from Jan. 2022 to July 2023

Adults in the U.S. are most likely to have medical bill problems, regardless of income

More than 1 in 6 Americans now 65 or older

Healthcare organizations will increase their cybersecurity budgets, in some cases by more than 15% compared to 2022

Demand for contract labor costs this year should normalize at about 60% higher than 2019 levels

Medicare Advantage enrollment is expected to reach a milestone this year, exceeding 50% of the total Medicare population in 2023

An estimated 5 million to 14 million are expected to lose coverage as states resume eligibility checks

More 2022 Stats

Medical groups and healthcare organizations reported a 6.1% increase in primary care compensation in 2022 compared to 2021

In 2022, more than 2.34 billion prescriptions were filled using one e-prescribing company

Between 1990-2022, the number of osteopathic physicians has more than quadrupled from fewer than 25,000 to over 110,000

94% of patients noted a delay associated with Prior Authorization (PA), with 79% reporting that PA delays can lead to treatment abandonment

In 2022, 31.2% of physicians reported they had been sued at some point in their careers. An average of 61 claims had been filed per 100 physicians

Physicians spend nearly 2 hours daily dealing with EHRs outside of working hours

Telehealth utilization rose 5.5% in December, up slightly from November, according to Fair Health’s national monthly tracker

52% of U.S. patients said healthcare providers dismiss their described symptoms

Researchers found that 8.3 million Medicare beneficiaries participated in a telehealth visit, & of these, 5% had one or more out-of-state telehealth visits

Telehealth, physician payment, training more doctors & pandemic preparedness are among the health care provisions in the federal government’s $1.7 trillion budget for 2023