The Private Health Information Network (PHIN) has released its quarterly private market update, showing private pay admissions in the UK through to Q4 2022.

The data shows private pay admissions as a whole steadily increased throughout 2022. This is not surprising as waiting lists are at record levels – but what is more surprising is private medical insurance (PMI) is rising while self-pay is falling. Self-pay is higher margin and groups like the UK’s largest hospital group Spire have benefitted from increased admissions. However, Spire’s CEO Justin Ash predicted in the firm’s FY results that PMI would rise throughout 2023. It seems this is already true.

HBI was told this week PMI admissions are likely increasing because the NHS has long term issues, and so patients are insuring their health rather than going for quick spot fixes.

The regional breakdown shows most regions have had increased admissions in both PMI and self-pay on a year-by-year basis. The exceptions are the north east and both the west and east midlands which saw no discernible change.

You can read PHIN’s full report here.