Healthcare Statistics

Goals

To obtain the following data points for the healthcare industry: (1) total healthcare market; (2) total health insurance market; (3) total annual health insurance premiums; (4) annual spend on out-of-pocket healthcare costs; (5) annual spend on non-healthcare health costs; (6) annual spend on health & wellness; (7) annual spend by self-insured employers on health insurance; (8) annual spend by big employers on health insurance; (9) annual spend by SMBs on health insurance; (10) annual spend on health benefits for companies with fewer than 50 employees; (11) current percentage of high income Americans (400% of FLPL) who are uninsured; and (12) the number of freelancers in the U.S. making over $150 million.

Early Findings

(1) Total healthcare market

(2) Total health insurance market

  • IBISWorld reports that the expected market size of the health & medical insurance industry in the U.S. for 2020 is $1.1 trillion.

(3) Total annual health insurance premiums

(4) Annual spend on out-of-pocket healthcare costs

(5) Annual spend on non-healthcare health costs

  • This was skipped as we need clarification on exactly what is needed here.

(6) Annual spend on health & wellness

  • Research from the New Global Wellness Institute reported that in 2017, the global wellness industry was worth $4.2 trillion. This includes traditional and complementary medicine; preventative & personalized medicine and public health; wellness real estate; wellness tourism; personal care, beauty, and anti-aging; spa economy; fitness & mind-body; healthy eating, nutrition, and weight loss; workplace wellness; and thermal/mineral springs. Further research would be need to find or triangulate the value for the U.S.

(7) Annual spend by self-insured employers on health insurance

Summary of Findings

  • Since the data for freelancers was requested for the U.S., we assumed that all data should be U.S. based. If this is not correct, the data found above would need to be redone with the correct geographic focus. If this is the case, it would need to be specified in any response, and the scoping would change due to the additional data points that would now be required.
  • It was not clear what was meant by "non-healthcare health costs." This seems contradictory. In order for us to obtain this data, we would need a full explanation of what was meant by this.
  • While we were able to address items 1 through 7 in our initial research, the exact data point needed was only found for four.
  • Although we found four of the data points in the initial hour of research, each remaining data point would be a single research request. This is due to the fact that two were not found in the initial research, which indicates a triangulation is likely, and the remaining six were not yet researched so it is unclear whether the data will be immediately available or will require triangulations.

Proposed next steps:

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