NHS delays drive demand for private healthcare to record
The private healthcare market has broken yet another record, with private hospital admissions hitting their highest rate in the third quarter of any year.
In the third quarter of 2024, there were 223,000 admissions to private hospitals in the UK (including self-pay and insured), up one per cent from the same quarter last year (220,000).
There was a slight decrease in admissions (five per cent) from Q2 2024, but this follows the seasonal pattern of 2023.
PHIN’s new data shows that private medical insurance was up nine per cent compared to last year’s quarter. However, self-pay is experiencing a slow decline, down by six per cent in the same quarter in 2023.
When comparing Q3 2024 to Q3 2023, the number of admissions funded by private medical insurance rose in every English region.
London again had the most insured admissions, rising from 55,000 to 58,000, followed by the South East at 28,000.
Brett Hill, head of health and protection at Broadstone, explained that businesses are behind this surge in the private healthcare sector.
“With NHS delays threatening to push millions out of work due to untreated conditions, businesses are increasingly turning to PMI as a proactive solution to safeguard both employee health and productivity,” he explained.
He noted the “value of preventative healthcare benefits, such as health screenings and early interventions, is clearer than ever.”
“With 80 per cent of private medical insurance policies funded by employers, businesses are not just ensuring their employees receive timely care – they are investing in long-term workforce resilience, avoiding the costly consequences of delayed treatment, and boosting overall productivity,” he added.
Additionally, the private medical insurance is set to benefit from the government’s plans to reform the NHS in the UK.
Two weeks ago, the government revealed it had hit its target of two million extra NHS appointments seven months early.
Health secretary Wes Streeting, in his media rounds, told the press that he thinks private investment has a role to play. “I’m open to serious proposals from the NHS, or indeed anyone else,” he added.