We’ve also researched what it costs to be treated for a number of the most common conditions, going out to five providers to find out what they currently charge.
Read on if you’re interested to learn more, or to get a rough idea of how each provider stacks up on price. If you’re here looking for information about the cost of insurance rather than the actual treatment, please click this link to visit a recent article about the best health insurance in the UK.
How much does private health care cost?
The cost of private healthcare in the UK is based upon a number of factors, including the treatment taking place, the location and the consultant’s own rates. In this section, we detail many of the elements which will affect the cost of your treatment.
What impacts the cost of private medical treatment?
While not an exhaustive list, these are the primary costs affecting the price of private medical treatment.
- The hospital’s location: Where the hospital is will be a major factor in the cost of treatments. While at first, this may seem strange, it needs to be borne in mind that many other costs, such as rent and even staffing costs, will be higher in certain places in the UK. For example, you can expect to pay at least 10-20% more for treatments in London.
- The treatment: As you would expect, the actual treatment required will play a significant role in determining the cost. For instance, having wisdom teeth removed is usually a far simpler treatment than full hip replacement surgery.
- Medical equipment costs: Private health care providers continually invest in new equipment and the cost of that equipment tends to increase over time. To be a leading provider, you need the latest equipment and the ability to offer cutting-edge treatments.
- Medicines: Similarly to equipment, private hospitals need to buy medicines, and the cost of some of the newest ones developed will be expensive. Medicine plays a key role in both treatment and recovery, so the private healthcare system needs access to the best available.
- Consultant fees: As consultants gain experience, their fees will rise. There will be a “going rate” for each type of specialist and if there’s a shortage of a certain skill set, you can be sure that the cost will increase.
- Staffing costs: Staff at private hospitals, from nurses to cleaners, need to be paid and again, these costs do tend to rise over time.
- Commercial property rent, business rates and utilities: Private hospitals often have large buildings in prominent positions in towns and cities and the costs associated with those is significant. The closer you get to London, the more expensive it is to have property, which is one of the reasons it costs more to be treated in the capital.
- Insurance: Providing medical treatment as a service comes with significant risk, so you can be sure that the hospitals will have costly insurance policies to provide them with some protection should problems occur.
- Information technology: Modern businesses rely heavily upon computers, mobile phones and other technology; private hospitals are no different.
- Profit margins: While some private healthcare providers are not for profit, others are profit-making businesses which need to try to create value for shareholders each year.