How to Deal With the Rising Costs of Hospital Care

Hospital care is the leading healthcare cost in the US at this moment in time. The worrying thing about this is that it affects so many of you – and it keeps on getting worse. Research by the American Medical Association (AMA) found that 30.4% of healthcare spending went on hospital care in 2022. The following year, hospital care expenditures increased by 10.4%, and while we’re yet to see the results for 2024, everyone expects it to go up yet again.

The bottom line is that hospital care will be one of your biggest medical costs, and it looks set to cost you more and more every year. So, what can you do to deal with the rising costs? It calls for a mixture of financial intelligence and general health awareness.

Step 1: Look after your health

Your annual hospital costs will diminish if you don’t need to spend time in a hospital. It’s as simple as that, which means you should focus on looking after your health to the best of your abilities.

Of course, if you have pre-existing health conditions, then you may need to visit the hospital now and then. However, over 45 million hospital admissions are preventable each year, meaning there are ways to stop yourself from needing this level of treatment. Most of the preventable admissions relate to cardiovascular diseases. In other words, focus on looking after your heart health and you should avoid many of the hospital care costs.

This can be done by exercising a few times a week, cutting out bad habits like smoking or drinking alcohol, and eating a diet high in natural foods and low in processed foods/red meat. Reduce your chances of being admitted to the hospital, and hospital costs become negligent.

Step 2: Don’t be afraid to visit medical professionals

Sometimes, you can’t avoid a serious health concern. Issues like cancer or genetic diseases are almost impossible to prevent in some cases. And yet, it’s still possible to reduce the costs of hospital care in these scenarios.

It comes down to getting earlier diagnoses, allowing for cheaper and shorter treatments. Don’t be afraid to visit medical professionals if you see or feel something wrong with your body. It’s much better to spot a problem early on than wait until it’s too late. Later-stage cancers or conditions can cost thousands more to treat – be aware and get help when needed.

Step 3: Find ways to supplement the costs of hospital care

You need a level of financial literacy to combat the rising costs of hospital care. Primarily, you should look for healthcare plans or programs that cover most of these costs. Medicare Plan A does this, though be careful when looking for Medicare Supplement plans with high premiums, as they can make everything more expensive.

Those of you who don’t qualify for Medicare can get general health insurance – or even some plans that only give hospital care insurance. Having ways to supplement the costs of hospital care makes it easier to financially manage chronic conditions and unavoidable health problems every year.

The sad reality is that hospital costs look to be rising year after year. It’s more important than ever to look after your health, get early diagnoses, and find the right medical plans for your needs. These three steps are the key to combatting the extensive costs and living without fear!