Despite the challenging operational environment, healthcare providers remain optimistic about growth.
Independent healthcare providers are anticipating strong growth in their private pay markets in the coming year according to a new survey conducted by the sector’s industry body.
Findings from the Independent Healthcare Providers Network’s (IHPN) latest industry barometer – which looks at how senior leaders from more than 50 independent providers feel about the key issues relating to their business – show that almost three-quarters of providers (74%) are “positive” or “very positive” about the private medical insurance (PMI) market, while almost two-thirds (62%) say that they feel “positive” or “very positive” about the self-pay market.
This reflects the record numbers of people using private healthcare with the numbers of people currently covered by PMI, mostly via their employers, at levels not seen since before the 2008 financial crash.
“This year’s industry barometer shows the real sense of optimism within the independent healthcare sector, with demand for the high-quality services it provides expected to continue to rise in the coming year – particularly in the private market where the growing normalisation of paying for treatment is becoming ever more apparent,” said chief executive David Hare
International self-pay
Providers in the sector are also feeling increasingly confident about the international self-pay market, with over half (53%) feeling positive or very positive about this market, up from just 10% last year.
This is an area that IHPN has focused on over the past year.
Reflecting wider workforce shortages in the NHS and across the globe, the survey also found that independent providers are taking an increasingly proactive approach to tackling recruitment and retention issues, with 83% stating they will be resolving these challenges through “growing their own” workforce, including through apprenticeships, training and development and widening participation, up from 63% last year.
“While there’s no doubt that independent providers – along with others in the health system and wider business community – are facing key challenges around the state of public finances and wider economic climate, our survey makes absolutely clear the desire in the sector to meet the needs of growing numbers of patients, including through taking proactive steps to “grow their own” workforce and increase training and development opportunities for their clinicians, something that will stand them in good stead in the years ahead,” Hare said.
The barometer survey was open from 17 December to 21 January. A total of 52 companies responded, from across the English sector, including all the main hospital groups and diagnostic companies.
