The researchers found that, overall, medical deductibles were higher in 2023 than in 2022

Statistic Info

High deductibles can pose a financial risk to individuals who may not have the means to cover them; this could lead to people compromising on necessary treatments because of affordability issues. Furthermore, higher deductibles would also affect businesses that provide health insurance as part of their benefits package by increasing their costs.

Author: HealthPayer Intelligence

More Related Stats

Revenue Management

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

63% of CEOs identified inadequate Medicaid reimbursement as a concern

Over the last year, medical care prices grew by 3.1%

The researchers found that, overall, medical deductibles were higher in 2023 than in 2022

The healthcare industry could save almost $25 billion, or 41%, by fully automating administrative transactions

Smaller party annual revenues exceeded $1 billion in more than 15% of last year’s transactions, coming in just below the previous year’s historic high of 16.3%

The federal budget will extend incentive payments for alternative payment models for an additional year, through 2025. However, the incentive payments will be at 3.5% instead of 5%

More 2023 Stats

In 2023 there was a 13% revenue growth in Q2 due to rising enrollment

Only a little more than a third of the insured respondents agreed that insurance facilitates affordable access to care for all

the average cost of a healthcare data breach is $10.1 million

Up to 37% of prescriptions are never filled due to cost

The average cost of medication non-adherence in the U.S. ranges from $5,271-$52,341 per person

Nearly 42M children in the US get their health care through Medicaid or the Children’s Health Insurance Program (CHIP)

25% of patients have attended a telehealth visit to address a new mental health concern

The average star rating across Medicare Advantage contracts increased from 3.86 in 2014 to 4.37 in 2022, when 68.4 percent of contracts had a rating of 4.0 or higher

More than 60,000 of U.S. COVID-19 deaths in the pandemic’s first year were attributable to inadequate health insurance

Every eight hours that office-based physicians have scheduled with patients, they spend more than five hours in the EHR