Table of Contents
Key Insights
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- What impact will NHS performance have on the industry’s own development?
- Has government-led action helped restore growth potential in the PMI market?
- Are there regional and demographic differences in PMI coverage and spending? Can providers benefit from these?
- How are overseas patients influencing the private acute market?
- What will affect future market development?
Introduction
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- Definitions
- Methodology
- Abbreviations
- Market positioning
- Healthcare Environment
UK Economy
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- Key points
- Overview
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- Figure 6: UK GDP Quarterly Development, 2005-2015
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- Figure 7: Quarters after GDP Peak, 1979, 1990 and 2008
- Inflation
- Interest rates
- House prices
- Consumer spending
- Manufacturing
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- Figure 8: UK Output, by Industry, 2008-2015
- Business investment
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- Figure 9: UK GFCF 2005-2015
- Imports
- Exports
Market Factors
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- Key points
- NHS budgetary issues affecting industry performance...
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- Figure 10: Total Departmental Expenditure Limits, in Real Terms, 2010/112015/16
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- Figure 11: Total Departmental Expenditure Limits, in Real Terms, 2010/11-2015/16
- ...but outsourcing to private sector remains strong
- Doubts still surround level of competition in the market
- Slight improvement in disposable income in 2015 partially offsets impact of PMI premium growth
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- Figure 12: GDP per Head at Current Market Prices and Real Household Disposable Income per Head, Q1 2011 Q4 2015
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- Figure 13: GDP per Head at Current Market Prices and Real Household Disposable Income per Head, Q1 2011 - Q4 2015
- Rise in insurance premium tax could dampen PMI market growth
- The falling unemployment rate could boost corporate PMI demand
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- Figure 14: Total UK Unemployment Rate Among People Aged 16+, Q1 2011 Q4 2015
Independent Hospital and Clinics
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- Key points
Market Size
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- Key points
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- Figure 15: UK Expenditure on Private Acute Healthcare, 2011-15
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- Figure 16: UK Expenditure on Private Acute Healthcare, 2011-15
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- Figure 17: Analysis of the Development of Private Acute Hospitals in the UK, 2011-2015
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- Figure 18: Analysis of the Development of the Number of Beds in Private Acute Hospitals in the UK, 2011-15
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- Figure 19: Development of the Number of Beds in Private Acute Hospitals in the UK, 2011-15
Market Segmentation
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- Key points
- Expenditure
- Private healthcare expenditure can be segmented into a number of activities.
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- Figure 20: Segmentation of Private Healthcare Expenditure, by Type, 20112015
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- Figure 21: Segmentation of Private Healthcare Expenditure, by Type of Service, 2011-2015
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- Figure 22: Funding Source Segmentation for Acute Hospitals and Clinics, by Source, 2014 and 2015
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- Figure 23: Funding Source Segmentation for Acute Hospitals and Clinics, by Source, 2015
- Analysis by Type of Operator
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- Figure 24: Analysis of Private Acute Hospitals in the UK, by Type of Operator, 2015/16
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- Figure 25: Analysis of Private Acute Hospitals in the UK, by Type of Operator, 2015/16
- Regional Analysis
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- Figure 26: Regional Analysis of UK Independent Acute Hospitals, 2015/16
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- Figure 27: Regional Analysis of UK Independent Acute Hospitals, 2015/16
Market Share
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- Key points
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- Figure 28: Major Private Acute Hospital Operators, 2015/2016
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- Figure 29: Major Private Acute Hospital Operators, 2015/16
Company Profiles – Private Healthcare Industry
BMI Healthcare
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- Figure 30: Financial Analysis of BMI Healthcare, 2010-14
- Company strategy
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Care UK
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- Figure 31: Financial Analysis of Care UK, 2011-15
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- Figure 32: Revenue Breakdown of Care UK, by Division, 2013-15
- Company strategy
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HCA International
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- Figure 33: Financial Analysis of HCA International, 2010-2014
- Company strategy
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Roodlane Medical
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- Figure 34: Financial Analysis of Roodlane Medical, 2010-2014
- Company strategy
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Nuffield Health
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- Figure 35: Financial Analysis of Nuffield Health, 2010-14
- Company strategy
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Ramsay Health Care UK Operations
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- Figure 36: Financial Analysis of Ramsay Health Care UK Operations, 2011-15
- Company strategy
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Spire Healthcare
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- Figure 37: Financial Analysis of Spire Healthcare Group, 2010-14
- Company strategy
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St Martins Healthcare
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- Figure 38: Financial Analysis of St Martins Healthcare, 2010-2014
- Company strategy
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Independent Hospitals and Clinics Forecast
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- Key points
- Healthcare challenges that can be helped by private provision
- Private provider income set to be faced with additional cost pressures
- Technology could be used to improve service delivery and attract new patients
- Strong, but stable, growth expected in private acute healthcare to 2020
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- Figure 39: Forecast UK Expenditure on Private Acute Healthcare, 20162020
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- Figure 40: Forecast UK Expenditure on Private Acute Healthcare, 2016-2020
Private Medical Insurance
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- Key points
- PMI Ownership and Availability
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- Figure 41: Ownership of Insurance or Savings Products for Health Needs, July 2015
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- Figure 42: Proportion of Employers Offering Selected Benefits as Core, March 2014
Market Trends
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- Key points
- Rising demand for health cash plans denting PMI growth...
- ... as self-pay healthcare sector growth also potentially dampens PMI development prospects
Market Size
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- Key points
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- Figure 43: Annual Average PMI Premium, by Purchaser Type, 2005-15
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- Figure 44: Average Annual PMI premium, by Purchaser Type, 2005-15
- Premium and subscription growth
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- Figure 45: The UK Market for Private Medical Insurance, 2011-15
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- Figure 46: Claim Amounts Incurred as a Proportion of Gross Earned Premiums, 2011-15
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- Figure 47: PMI Gross Earned Premiums, Claims Paid and Gross Margin, 2011-2015
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- Figure 48: The UK PMI Market, 2011-2015, by Number of Policyholders and People Covered
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- Figure 49: The UK PMI Market, 2011-2015, by Number of Policyholders and People Covered
- Market development
- Ongoing private healthcare market investigation
Market Segmentation
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- Key points
- Corporate and group PMI
- Individual PMI
- Overall PMI market
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- Figure 50: Segmentation of Private Medical Insurance, by Policyholder Type, 2011-15
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- Figure 51: Segmentation of Private Medical Insurance Subscribers, 2011-2015, by Policyholder Type
- Figure 52: Segmentation of Private Medical Insurance Value, 2011-2015, by Market Value
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- Figure 53: Estimated Regional PMI Penetration and Weekly Spend on Private Medical Insurance Premiums
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- Figure 54: Estimated Regional PMI Penetration, 2014
- Figure 55: Estimated Weekly Spend on PMI Premiums, by Region, 2012-14
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- Figure 56: Average Weekly Household Expenditure on Medical Insurance Premiums, by Age Group, 2010-14
- Health cash plans
Industry Development
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- Key points
- Market share
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- Figure 57: Estimated Market Share in the UK PMI Market, by Company, 2015
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- Figure 58: Private Medical Insurance Market Share, by Company, 2015
Company Profiles – Private Medical Insurance Industry
Aviva Healthcare UK
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- Figure 59: Financial Analysis of Aviva Plc, 2011-15
- Company strategy
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AXA PPP Healthcare
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- Figure 60: Financial Analysis of AXA PPP Healthcare, 2010-14
- Company strategy
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Bupa
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- Figure 61: Financial Analysis of Bupa, 2011-15
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- Figure 62: Divisional Analysis of Bupa, 2011-15
- Company strategy
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VitalityHealth (formerly PruHealth)
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- Figure 63: Financial Analysis of VitalityHealth (formerly PruHealth), 2011-15
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- Figure 64: Financial Analysis of Vitality Health Insurance Limited (formerly Prudential Health Insurance Limited), 2011-15
- Company strategy
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Western Provident Association
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- Figure 65: Financial Analysis of Western Provident Association, 2010-14
- Company strategy
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PMI Forecast
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- Key points
- PMI could reduce the burden on the NHS
- Demographic changes and the impact of the pensions reform could influence direction of PMI market
- Further rise in IPT from October 2016 is likely to offset attempts to reduce premiums for customers
- New product offerings used to improve market accessibility and efficiency
- It may prove difficult for insurers to improve relative to competitors, given that many
- Slow growth expected in the PMI market
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- Figure 66: UK Market Forecast for Private Medical Insurance Subscription Income, 2016-2020
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- Figure 67: UK Market Forecast for Private Medical Insurance Subscription Income, 2016-2020
- Figure 68: UK Market Forecast for Private Medical Insurance, by Number of Policy Holders, 2016-2020
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- Figure 69: UK Market Forecast for Private Medical Insurance, 2016-2020, by Number of Policy Holders
- The growing emergence of the ‘self-pay’ market could restrict PMI development
The Consumer – Last Private Healthcare Visit
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- Key points
- Nearly two-thirds of consumers have never used a private healthcare service
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- Figure 70: Private Healthcare Use, by Time Passed Since Last Visit, April 2016
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- Figure 71: Private Healthcare Use, by Time Passed Since Last Visit, April 2016
- Private healthcare service use declines with age
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- Figure 72: Private Healthcare Use, by Time Passed Since Last Visit and by Age and Gender, April 2016
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- Figure 73: Private Healthcare Use by Males, by Time Passed Since Last Visit and by Age, April 2016
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- Figure 74: Private Healthcare Use by Females, by Time Passed Since Last Visit and by Age, April 2016
The Consumer – Method of Payment
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- Key points
- Self-pay patients lead private healthcare payments
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- Figure 75: Private Healthcare Payment Method, April 2016
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- Figure 76: Private Healthcare Payment Method, April 2016
- Women most likely to self-fund private healthcare treatment
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- Figure 77: Private Healthcare Payment Method, by Gender, April 2016
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- Figure 78: Private Healthcare Payment Method, by Gender, April 2016
- Recent surge in use of employer-provider PMI
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- Figure 79: Private Healthcare Use, by Time of Last Visit and by Payment Method, April 2016
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- Figure 80: Private Healthcare Use, by Time Passed Since Last Visit and by Payment Method, April 2016
The Consumer – Health Insurance Provider
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- Key points
- Bupa dominates health insurance coverage
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- Figure 81: Private Healthcare Insurance Provider, April 2016
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- Figure 82: Private Healthcare Insurance Provider, April 2016
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- Figure 83: Private Healthcare Insurance Provider, by Cover Payment Method, April 2016
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- Figure 84: Private Healthcare Insurance Provider, by Cover Payment Method, April 2016
The Consumer – Health Insurance Purchase Factors
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- Key points
- Brand awareness and trust drives medical cover purchase
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- Figure 85: Private Health Insurance Purchase Factors, April 2016
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- Figure 86: Private Health Insurance Purchase Factors, April 2016
- Local medical cover important to PMI holders
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- Figure 87: Private Health Insurance Purchase Factors, by PMI payment method, April 2016
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- Figure 88: Bupa Health Insurance Purchase Factors, April 2016
Further Sources and Contacts
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- Trade associations
- Trade exhibitions
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