Private Healthcare Costs

In the UK we’re lucky enough to have the benefit of universal healthcare in the form of the NHS. This means that most of us are probably unaware of the true costs of private health care. When you’re in a position that private health care looks like your preferred option of treatment, it’s important that you be aware of how much it really costs. In doing so, you’ll be better placed in deciding whether private health insurance is for you or not. In this article we’ll look at what private healthcare costs in the UK are made up of, typical costs you might expect to see, and what options you have to finance these costs.

What Do Private Healthcare Costs Consist Of?

As you might expect, there are a few factors that go into the costs of your hospital treatment, especially on the basis of a private healthcare provider. Here are some of the key pricing elements that make up private healthcare:

• Cutting-edge and more effective drugs and medicine
• Advanced medical equipment for both diagnosis and treatment of illnesses
• Top-tier facilities and comfortable environments for patients
• Logistics-software and record-keeping for an efficiently-run medical service
• Highly qualified medical staff
• Many private health institutions are run for profit, so that needs to be accounted for

Example of Prospective Medical Costs

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It’s difficult to give a comprehensive outlook on all private medical costs due to the number of medical conditions and number of providers out there. However, there are some resources available where you can find additional information on the cost of private health care from the major private health companies in the UK:

• https://www.bmihealthcare.co.uk/hospitals/price-results
• https://www.spirehealthcare.com/treatments/
• https://www.nuffieldhealth.com/hospitals/pricing
• https://www.newvictoria.co.uk/selfpay/prices/
• https://www.ramsayhealth.co.uk/patients/self-funding-prices
• https://hcaselfpay.co.uk/finance/price-list
• https://www.aviva.co.uk/healthcarezone/documents/view/gen2018.pdf
• https://www.axappphealthcare.co.uk/private-health-insurance/what-does-private-health-insurance-cost-uk/

You can also consult with your GP, who will have a more up to date idea of the costs, especially in relation to your individual condition.

In the meantime, we have managed to gather a scope of typical private health costs from Private Healthcare UK, first noting the average cost nationwide, before looking at what private health providers might charge also. This should give you an idea of the range of medical costs in the UK, which can go from a couple of hundred pounds, all the way to the tens of thousands.

Private Healthcare Costs: Case Studies

1. Shoulder Surgery
2. Ankle Joint Replacement
3. Private Hand Surgery
4. Hip Replacement
5. Breast Lump Removal

Paying for Your Private Health Treatment

There are numerous options available to pay for your private health treatment. These can range from taking a medical loan, paying for the treatment out of your own pocket, or purchasing private healthcare insurance. At one point of another, all of us will most likely have to make a decision between going down the private medical route or via the NHS. Fortunately for us, the NHS is there as a safety-net in case we can’t afford the costs of private health treatment. Today, there are many healthcare insurance providers out there who can give you a suite of coverages at different price-points so as to meet any budget or coverage concerns. Whilst we can’t tell you if private healthcare insurance is for you, we do recommend at least looking into it so that you are able to definitively decide it’s not for you.