Record Inflation Is Keeping Our Patients From Us

— Care teams should help patients prioritize health on a tighter budget

by
Zhou Yang, PhD, MPH



February 21, 2023

A year of record inflation reminds us that when difficult financial times drive people to recalibrate their budgets, health spending tends to fall by the wayside. Patients often skip treatments, delay diagnoses, pause on prescriptions, and halt healthy food purchases — all to save money during times of economic uncertainty.

With the factors impacting economic uncertainty likely to compound within the next year, now is the time for care teams and virtual care programs to proactively address the impact of market conditions on patients. This includes communicating with patients about treatment supply chain issues, how to manage rising healthcare service and drug prices, and the importance of prioritizing health on a budget.

The new nature of care is hybrid, meaning care teams have an opportunity to discuss these topics both in-person and virtually between appointments. By taking a personalized approach and proactively communicating with resources and support, care teams can help patients weather the storm of a tough economic landscape without compromising their positive health habits.

Prioritizing Health on a Budget

Care teams are uniquely positioned to help patients prioritize their health, especially during periods of economic uncertainty. One of the first things that people tend to deprioritize when money is tight is healthy food, which, at least at surface level, appears to be more expensive than processed snacks and pre-made meals.

As unhealthy food can contribute to health complications, care teams can play a crucial preventative role by sharing knowledge about healthy eating on a budget. For example, patients may be surprised to learn that they can get the nutrients they need by eating simple, inexpensive whole foods like beans and rice. Care teams can also offer tips on how to stretch a budget by buying in bulk or growing food in a small home garden.

Along with healthy food, gym memberships often fall by the wayside as people tighten budgets during periods of economic uncertainty. Care teams can help patients find ways to exercise without breaking the bank. There are many free or low-cost ways to stay active, such as walking, biking, or doing body-weight exercises or yoga at home.

In particular, there is a clear opportunity here for virtual care teams to provide insights and direction that help patients keep fit and stay their healthiest at home. By providing resources and support that patients can access whenever they need, care teams can help patients make healthy choices even when times are tough.

Navigating Rising Healthcare Costs

During periods of economic uncertainty and inflation, patients may be especially anxious about how they’re going to afford the care they need. Care teams can help ease this stress by having honest and open conversations with patients about which services and treatments are the most likely to experience cost increases.

It is important to listen to patients’ concerns and offer options for how they can manage costs while still receiving high-quality care. Care teams can offer advice on how to comparison shop for healthcare services, navigate insurance options, and how to take advantage of government assistance programs. There are a number of digital health tools available that can help lower healthcare costs for the payer, the healthcare providers, and the patients, such as online appointment scheduling and prescription refill services, or platforms that enable easier communication with providers and insurers. And care teams can easily keep patients up to date on any ongoing changes by connecting virtually.

These are trying times for everyone, which is why it’s especially important for care teams to leverage digital technology and use the most effective communication channels available to check in with patients and mitigate the health consequences of financial struggles. By providing clear, practical advice and dedicated support in every patient communication setting, care teams can help ease patients’ financial worries and help ensure they are able to access the care they need — even in the midst of economic uncertainty.

Zhou Yang, PhD, MPH, is the principal health economist at Omada Health, a virtual-first healthcare company.