What Is Healthcare Financing, and Why Do We Need It?

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Written by Jordan | Last Updated October 1st, 2019
Jordan Grimmer is the head content manager, editor, and writer at bestcompany.com. He oversees all on-site content production, the bestcompany.com Medium page, as well as his own personal blog. You can follow Jordan on Twitter.

As healthcare costs continue to go up, sustainable options for financing healthcare go down.  However, a new industry is emerging that can assist those in need with their healthcare financing options. Check out the infographic below, then visit our best healthcare finance companies to learn more!

what is healthcare finance and why do we need it? total annual healthcare spending for 2014 was $3.8 trillion and that number has been increasing steadily every year. over half of that money goes directly to hospitals, providers, and clinical services. other 12% hospital care 31% providers/clinical services 27% drugs 10% nursing homes/home health care 13% administration of insurance/benefits 7% healthcare currently has 3 sources of funding . . . private insurance governemtn programs you private insurance employee benefits affordabel care act government programs medicare medicaid out of pocket health savings acct. spending acct.increased costs of . . . goods adn services new equipment admin. costs all contribute to this growing number. but, increased spending does not necessarily mean better care. the us ranks: #30 infant mortality rate #23 male life expectancy #25 femail life expectancy #24 chances of healthy life when . . . the government spends more on healthcare . . . . . . national debt will increase. people spend more on healthcare . . . . . . they have less disposable income. employers spend more on healthcare . . . . . . job cuts may follow. without additional healthcare funding, people may not seek medical treatment - because they can't afford it. healthcare finance companies can help in 3 ways: pay for procedures not covered by insurance help ease the burden of high deductibles work with hospitals to close the affordability gap

The Top Healthcare Financing Companies

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Denefits chevron_right
3.3
starstarstarstar_halfstar_border
(32)
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Compassionate Finance chevron_right
3.7
starstarstarstar_halfstar_border
(33)
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AccessOne MedCard chevron_right
1.6
starstar_halfstar_borderstar_borderstar_border
(13)

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