IHPN Industry Barometer: State of the Sector 2024

Independent healthcare providers are anticipating strong growth in their private pay markets in the coming year according to a new survey conducted by the sector’s industry body.

Findings from the Independent Healthcare Providers Network’s (IHPN) latest Industry Barometer – which looks at how over senior leaders from over 50 independent providers feel about the key issues relating to their business – show that almost three quarters of providers (74%) are “positive” or “very positive” about the Private Medical Insurance (PMI) market, with almost two thirds (62%) feeling “positive” or “very positive” about the self-pay market.

This reflects the record numbers of people using private healthcare – with the numbers of people currently covered by PMI (the vast majority through their employer) at levels not seen since before the 2008 financial crash – and the growing “normalisation” of paying for treatment with IHPN’s most recent “Going Private” report showing almost 7 in 10 people saying they would consider accessing care privately.

Providers in the sector are also feeling increasingly confident about the international self-pay market, with over half (53%) feeling positive or very positive about this market, up from just 10% last year. This is an area IHPN has been prioritising in the last year, particularly through its Healthcare London network which has been working closely with our partners in Government and embassies across the world to promote the capital as a destination for international patients.  

Reflecting wider workforce shortages in the NHS and across the globe, the survey also found that independent providers are taking an increasingly proactive approach to tackling recruitment and retention issues, with 83% stating they will be resolving these challenges through “growing their own” workforce, including through apprenticeships, training and development and widening participation, up from 63% last year.

You can read the report in full here.