Ryan FowlerAnalysis of the latest quarterly PHIN data demonstrates a surge in private health admissions funded through corporate insurance solutions, which could help reduce pressure on the NHS.
Research from Broadstone reveals that treatments funded through Private Medical Insurance (PMI) are now at 109% of pre-pandemic levels. A record quarter in Q4 2023 saw 161,000 PMI-funded admissions to private hospitals, bringing the annual total to an all-time high of 620,000.
Separate analysis of Broadstone’s corporate clients’ healthcare claims shows a significant increase in the incidence and severity of claims over the past year. The volume of mental health claims rose by 33%, with the value of these claims increasing by 68%. The number of cancer claims grew by 20%, while the value of claims paid surged by 131% in the same period.
Brett Hill, head of health & protection at Broadstone, commented: “It is important that the private sector is able to increasingly step in to support the health of the UK workforce and the economic growth that depends upon it – without it we would have seen significantly higher economic inactivity and staff shortages.
“The additional benefit of this growth in corporate healthcare provision is its contribution to reducing pressure in the public health system. If these treatments were not being funded and provided by the private sector then there would be yet more people on the NHS waiting list and, inevitably, yet more people out of work due to ill health.
“Promoting greater provision of employer-funded healthcare benefits could make a significant contribution towards reducing not just NHS waiting lists, but also the record levels of economic inactivity currently being caused by ill health.”
