ANN ARBOR, MI – A consumer sentiment index from Thomson Reuters showed that consumers’ confidence in their ability to pay for healthcare declined in July after two straight months of improvement.
The Thomson Reuters Consumer Healthcare Sentiment Index dropped from 99 in June to 96 in July, giving back nearly all the gains made since the index hit a low of 95 in April.
[See also: Healthcare consumer confidence plunges; Healthcare costs' growth rate increases in the new year]
"The index hit historic lows in April, rebounded in May and June, and recorded across-the-board declines in July," said Gary Pickens, chief research officer at the Thomson Reuters Center for Healthcare Analytics in a press release. "It is clear that consumer attitudes remain extremely volatile."
The index is based on the Thomson Reuters PULSE Healthcare Survey, a national, privately funded household survey of health behavior, attitudes and utilization that has been running for more than 20 years. Data collected in the PULSE Healthcare Survey are weighted to be representative of all U.S. adults and households.
The Consumer Healthcare Sentiment Index is published monthly, using results from the 3,000 household monthly survey subset and consists of two parts:
- A retrospective component gauges respondents' experiences during the past three months. It tracks whether they postponed, delayed or cancelled healthcare services and whether they had difficulty paying for medical care or health insurance. In July, retrospective consumer sentiment dropped from 98 to 96.
- A prospective component gauges respondents' expectations for the next three months. In July, prospective consumer sentiment fell from 100 to 97.
The scores for both parts are combined to provide a composite index of consumer sentiment.
U.S. consumers polled in July indicated that aside from diagnostic tests, they will be more likely to delay, postpone or cancel office visits, elective surgeries and therapies in the next three months. They also said they have had, and expect to continue having, difficulty paying for healthcare services and insurance.
“This is a significant reversal from June, when consumers generally expressed optimism for the future,” the report noted.
