Healthcode has cleared 15% more healthcare invoices in 2024 than all of 2023, clearing £3.8bn worth this year. It expects to process £5bn worth this year.
And the firm added insurance claims were driving that growth.
This is according to the online clearing service’s managing director, Peter Connor (pictured), in addressing delegates at Laing Buisson’s Private Acute Healthcare Cover Summit yesterday.
The data, taken from invoices healthcare providers submitted invoices to Healthcode, showed for the year to date to September, the overall market for private medical insurance (PMI) is up 13% year-on-year, with hospitals invoices up 11% and non hospital providers growing slightly faster.
As a total for the year, the firm processed 3.7 million hospital invoices last year, and the forecast is for this to hit about 4.2 million hospital invoices this year.
But when it came to hospital invoice values, Connor said: “If we look at values, we processed £3.3bn worth of hospital invoices in 2023, so those values have grown massively and we’re predicting it to be £3.8bn.
“Year to date for hospital it’s £2.8bn, but it’s significant growth.”