ANNUAL STUDY
Healthcare Financial Experience Study
Cedar surveyed 1,200 consumers and it’s clear they want to pay their healthcare debts. But their bills are unaffordable and the whole process too complex and bad for their health.
CEDAR RESEARCH
47% of Consumers Say Their Healing or Well-Being Was Impacted by Difficulty Paying a Healthcare Bill
KEY FINDING
Consumers Demand More Financial Support and Certainty
A quarter of consumers are unable to afford an unexpected healthcare bill greater than $250, yet many are in the dark about the financial help they can get.
“We have to get providers and payers working together better. It’s not fair to the consumer to be in the middle of this—at their most vulnerable moment.”Chief Financial Officer at Allegheny Health Network
“With a lot of social programs in the US, people qualify but they’re either kicked out for administrative reasons […] or they’re just not told and they have no idea that the program exists, let alone that they qualify for it.”Senior Director at the Patient Advocate Foundation
“Clinically you had an amazing experience, but from a financial standpoint, it was a terrible experience. We’ve cured you of your ailment, but we’ve harmed you financially—that’s the patient’s perception of the provider.”Chief Financial Officer at the Ohio State University Wexner Medical Center
KEY FINDING
Consumers Struggle to Navigate a Fragmented Ecosystem
Payer-provider coordination on patient billing affects customer loyalty and three-quarters of consumers wish they could view real-time benefits when looking at bills.
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See More Insights
Get your free copy of the 2024 Healthcare Financial Experience Study to go deeper into the data on:
What specific information would encourage consumers to pay faster
Why consumers aren’t using tax-free dollars in their health savings accounts
How providers can put these insights into action with clear next steps