For years now, it has been suggested that the Conservative government has been effectively selling off segments of the NHS to private operators.
While such allegations remain largely unsubstantiated, the chronic underfunding and mismanagement have created huge operational pressures for our National Health Service, creating a rise in the number of Brits paying for private medical treatment.
This is creating a de facto ‘two-tier’ health system on these shores, while it’s also problematic given the rising cost of private healthcare in the UK.
But what’s the outlook for the future, and what steps can you take to fund your own access to private healthcare in 2022?
The Rise in Private Healthcare Spending and Future Outlook
According to studies, the proportion of health spending emanating from private sectors has been observed of late, including private medical insurance.
More specifically, the proportion of healthcare spending associated with the private sector increased from just 0.54% back in 1980 to 2.33% in 2020. When you consider the size and value of the total healthcare market in the UK, this represents a sizable income and sum of money.
At the same time, the cost of private treatments and services has continued to rise. This should come as no surprise, of course, as the private healthcare sector operates according to free market principles and therefore are at the mercy of demand.
So, as the NHS continues to falter and record waiting lists of up to 14 million, the demand for private healthcare will continue to soar.
This trend is unlikely to change in the near term, with some 17% of Brits now revealing that they’re willing to go private if they were required to wait beyond 18 weeks for a GP referral.
This is the minimum amount of time that the NHS says a patient should have to wait for planned hospital treatment, while it suggests that typical patient behavior is being changed and remodeled by the restrictions associated with the National Health Service in the UK.
How to Fund Your Own Private Healthcare
While you may be among those who are considering going private as a way of achieving a better quality of healthcare, this may prove beyond your means as prices continue to rise.
So, how can you help to fund private healthcare and access paid services in the current climate? Well, while inflation may have dipped slightly in August and may have peaked, the cost of food and energy remains markedly higher than before.
It may therefore be a good idea to create additional passive income streams such as CFD trading, as this speculative investment vehicle can be accessed seamlessly online and drive profits without requiring you to assume ownership of underlying assets like stocks.
There are other ways to make money online too, of course, such as selling unwanted items online or even drop shipping. With the latter, you’ll buy in-demand items at wholesale prices before selling them on at their RRP, realizing the difference as profit and ensuring that products are shipped directly to customers.
The key is to focus on earnings and optimize your income streams, as this will help to create more disposable income and savings should you ever need to call on private healthcare.