Competing with the national health service that is available to everyone, can be a challenge for private healthcare providers, although there are many reasons that indicate a ‘superior’ service from private healthcare services, the price is usually the main concern from potential patients.
Paying for healthcare when it’s readily available at no cost across the country is a huge reason why the public still rely heavily on the NHS. There are a lot of misconceptions that healthcare is hugely expensive and only suitable for the middle to upper class, as oppose to the working class. It is important to understand the requirements and the affordability of your target market to thrive in the private healthcare industry.
UNDERSTAND YOUR DEMOGRAPHICS
People are living longer which is a huge change in demographics compared to 50 years ago, which means more people are taking advantage of their private healthcare insurance and premiums. However, those over 50 are usually put off private healthcare as their premiums become more expensive, due to higher risk of needing to utilise the private care, as a result, the amount of people over the age of 50 using private healthcare is declining. It’s worth considering how we can change this so that private healthcare becomes more affordable and a justified expense to over 50s.
HEALTHCARE COST INFLATIONS
Every industry is trying to make more money, from pharmaceutical companies advancing the medication and treatments that they can offer to medical technology companies creating innovative and reliable equipment that can enable medical professionals to do their jobs even better than ever before. All of these things come at a price, and an ever inflating one at that, so understandable, there has to be inflation in every link of the chain, including patients right?
Private healthcare’s infrastructure is very much an older and less nurtured infrastructure than the NHS. Private healthcare took off in the 1980s which is when most hospitals and healthcare centres were built for the private sector, however the growth and development of these establishment has been poorly funded and in most cases, ignored. When you are paying for private healthcare you expect a better set up than the one provided on the NHS, but in some cases, this is not achievable due to the lack of funding. This is something that can put people off continuing with their private healthcare and gives the idea of a less than desired level of care in regards to their settings. How can the private sector improve their quality in their infrastructure to reflect the difference and superiority of the service that private healthcare providers offer?
Overall there are many reasons why private healthcare is the right choice for many people, and there is definitely still a huge market that take advantage of the superiority that private healthcare provides, however broadening that target market to make it more desirable and more affordable seems like it will need a little more development and a little more work.