A new report by Google has found that a slim majority of patients are putting off elective medical care because of the out-of-pocket costs.
The survey, which Google conducted for CareCredit, found nearly 53 percent of have delayed care, including dental treatments, and nearly 45 percent said they would skip elective care if the out-of-pocket responsibility was higher than $1,000.
Higher patient out-of-pocket expenses can mean people need financing, but the survey found 44 percent of those asked said they were not aware of financing options.
Of course, CareCredit has a stake in the study as a vendor of credit services for healthcare-related expenses. But the findings echo other studies on consumer cost burden as well as many observations from healthcare finance leaders.
The Health Care Affordability Index report in November found that among adults with low incomes, 53 percent said they can't afford healthcare. In that same report, 32 percent of higher-income adults surveyed said they struggle to pay their deductibles.
[Also: Quarter of adults struggling to cover healthcare costs, high deductibles]
Deductibles have been rising in recent years, placing the burden on patients to pay thousands each year in out-of-pocket charges on top of their insurance premiums.
In January, the Urban Institute's Health Policy Center found that people purchasing health plans on either the federal or state exchanges pay anywhere between 10 and 25 percent of their annual incomes on premiums, deductibles and other out-of-pocket costs combined.
"Consumers need to be aware of financing choices that are available for health-related expenses, and to have proactive conversations with their providers to ensure they fully understand their payment options," CareCredit CEO Dave Fasoli said in a statement. "Most individuals and their families may not feel prepared for an unexpected medical, dental or veterinary expense, and healthcare financing can help enable access to care."
CareCredit is not the only company offering financing for medical bills. Several healthcare providers have also contracted with CarePayment to offer patients options to pay down balances without interest.
Twitter: @HenryPowderly