Increasing numbers of people are paying for their own healthcare rather than rely on the NHS or PMI, according to a new report.
The Private Healthcare UK Self-Pay Market Study 2015 showed providers and commentators are reporting double-digit growth year-on-year in the self-pay surgery sector.
The London market is estimated to be growing at 20 per cent a year, largely driven by inbound international medical business.
Keith Pollard, chief executive of Intuition Communication, said: “If this report tells us one thing, it’s that the traditional models of private medical insurance are simply not going to be sustainable in the future – either for corporate or personally paid policies.
“Insurers have yet to demonstrate innovation in a way that delivers better value for consumers.
“What is very encouraging, however, is the positivity among healthcare providers about the current state and future potential of the self-pay market, with most expecting to see double-digit growth in the next three years.”
Adviser view
Jason Witcombe, director of London-based Evolve Financial Planning, said: “This increase might be down to the perceived cost of taking out private medical insurance.”
Email: damian.fantato@ft.com
