Overview

Got it covered: Rising healthcare expenditures will support industry revenue growth

IBISWorld’s Medical Patient Financing Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Medical Patient Financing industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Improving economic conditions and increasing healthcare expenditures will drive industry growth
  • Industry participants are introducing lower interest rate financing through installment loans
  • Consumer spending on elective and nonelective medical procedures is anticipated to increase

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    Industry Analysis & Industry Trends

    The Medical Patient Financing industry, which extends credit to consumers to cover medical procedures, has struggled to adapt to subdued demand and a changing healthcare environment over the five years to 2016. Following a revenue decline in 2012, as consumers delayed elective medical procedures, industry revenue started to trend upward as demand strengthened in 2013, somewhat offsetting the industry's poor performance after the recession. In the coming years, improving economic conditions and increasing healthcare expenditures are expected to drive industry growth...

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    Industry Report - Industry Locations Chapter

    Distribution of business locations within the Medical Patient Financing industry is based on population levels and proximity to financial centers such as New York City. The highest concentration of establishments is in the Southeast and the Mid-Atlantic regions, with 21.0% and 20.2%, respectively.

    The Mid-Atlantic region, which includes the state of New York, is where the major commercial banks reside and where the major industry players have a strong presence. Equally important in the Mid-Atlantic region is the state of Delaware, which offers corporate tax benefits and legal benefits. In fact, more than half of US publicly traded corporations and 60.0% of the Fortune 500 companies are incorporated in Delaware because of its corporate-friendly laws.

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    Additional Insights for the Medical Patient Financing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Medical Patient Financing Industry are

  • Production of goods currently favored by the market
  • Access to the latest available and most efficient technology and techniques
  • Easy access for clients
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Total health expenditure in the Medical Patient Financing industry impact industry performance..

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    Look under the hood?

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    Industry Products

    What is the Medical Patient Financing Industry?

    This industry includes companies that are primarily engaged in extending credit facilities to consumers to cover healthcare costs and related expenses. Financing can be provided for elective and non-elective medical procedures.

    Industry Products
    Dental care financing
    Vision care financing
    Cosmetic and dermatology care financing
    Audiology care financing
    Veterinary care financing
    Industry Activities
    Financing elective medical procedures
    Financing nonelective medical procedures

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Total health expenditure
  • Number of physician visits
  • Number of people with private health insurance
  • Federal funding for Medicare and Medicaid

  • Current Performance
  • Deleveraging reduces demand
  • Consolidation leads to concentrated industry
  • Third-party financing fills coverage gap
  • Chart: Revenue Growth

  • Industry Outlook
  • Slowdown in dental expenditure hinders growth
  • Healthcare reform heightens competition
  • Table: Medical Patient Financing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Medical Patient Financing Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Debt Collection Agencies
  • Primary Care Doctors
  • Dentists
  • Optometrists
  • Consumers

  • Key Selling Industries
  • Commercial Banking
  • Credit Card Issuing
  • Savings Banks & Thrifts

  • Products & Services
  • Dental care financing
  • Cosmetic and dermatology care financing
  • Veterinary care financing
  • Vision care financing
  • Other
  • Audiology care financing
  • Chart: Medical Patient Financing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • High-income households
  • Middle-income households
  • Households near or below the federal poverty line
  • Low-income households
  • Chart: Major Market Segmentation for the Medical Patient Financing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Other
  • Wages
  • Chart: Cost Structure Benchmarking – Sector vs Medical Patient Financing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Medical Patient Financing Industry

  • Industry Globalization
    Major Companies
    Synchrony FinancialCitigroup Inc.Wells Fargo & Company
  • Table: Synchrony Financial - financial performance
  • Table: Citigroup Inc. - financial performance
  • Table: Wells Fargo & Company - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Medical Patient Financing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Medical Patient Financing Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Total Healthcare Expenditure (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Copayment
  • Copayments are paid by patients every time a medical service is performed.
  • Deductible
  • The amount of medical expenses patients must pay out of pocket before the insurer will pay any expenses.
  • Deliquencies
  • When a patient fails to make a scheduled debt payment.
  • Lasik
  • Laser eye surgery that is commonly performed to correct myopia, hyperopia, and astigmatism.
  • Loan Charge-Off
  • Loan charge-offs are considered noncollectable debt by medical patient financing companies resulting in a loss and reduced profitability.
  • Loan Loss Provision
  • An expense set aside for bad loans.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Medical Patient Financing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Medical Patient Financing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Medical Patient Financing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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