Survey reveals treatment pricier than expected
Clients need to be made aware of the costs of private medical treatment, industry figures have said. While two in three people would pay for medical treatment rather than wait for the NHS, most are wrong in their estimates of cost, according to Standard Life Healthcare.
Its eighth Standard Life Attitudes to Healthcare survey shows 15% of adults would pay as much as £10,000; 40% would pay £1,000, 26% £2,500 and 20% £5,000 from their own funds.
However, only one in three people knew a coronary artery bypass would cost about £14,500. One in three thought it would be £10,000, one in four said £8,500 and 8% guessed £5,000. Similarly, only 23% knew a knee replacement could cost £9,500.
Peter Staddon, head of technical services at the British Insurance Brokers' Association highlighted the research as a sales tool. He said: "Quality bona fide information is always useful. Consumers are generally ignorant of the facts and don't understand the market's dynamics. Information of this nature can be invaluable when speaking to clients."
Liam Kennedy, national development manager at Standard Life Healthcare, added: "Medical costs are dearer than most people imagine and if they don't want to wait for NHS care, or can't, they might get a nasty shock."
Eight in 10 people chose being treated quickly as an important benefit of private medical insurance, while three in four chose recuperation in clean and comfortable surroundings.
