A recent survey conducted by Patient Rights Advocate reveals that medical debt is seen as a significant issue by an overwhelming majority of Americans heading into the presidential election campaign. The survey, which polled 2,024 likely voters, found that 77% believe medical debt is a major problem, compared with student loans, which was cited as a major problem by 57% of the participants.
Overwhelming support for transparency: 92% of likely voters support requiring hospitals and health insurance companies to provide real prices before care, with 71% expressing strong support
Bipartisan consensus: The issue transcends party lines, with 91% of Republicans, 92% of Independents, and 94% of Democrats in favor.
Why it matters: The widespread concern over medical debt and strong support for price transparency could lead to policy changes affecting healthcare billing practices and debt collection strategies.
By the numbers:
- 74% of respondents reported seeing some or a lot of increase in healthcare prices over the past year
- 39% of voters cited out-of-pocket costs as a top healthcare concern, followed by monthly insurance costs (31%) and prescription costs (31%)
- More than one-third of voters have postponed or avoided medical treatment due to cost uncertainty, including those with health insurance
Between the lines: The survey reveals a public highly attuned to healthcare costs and supportive of measures to increase transparency. This sentiment could influence future regulations and consumer expectations regarding medical billing and debt collection practices.
The big picture: With 94% of voters supporting price transparency requirements and 77% viewing medical debt as a major issue, the healthcare finance landscape is primed for potential shifts
