Britons’ unpreparedness puts healthcare accounting at risk

Published on June 22, 2012 by Crawfords Accounting

Healthcare accounting could be complicated by unprepared patients who are unable to pay their medical bills for private treatment from doctors, dentists, opticians and other professionals.

Figures from M&S Money show the unexpected bills that have caused the biggest problems for Britons in the past year.

More than half (52%) of those surveyed have found a car repair bill problematic, at an average unexpected cost of £268.

But at £263 per incident on average, doctors’, dentists’, opticians’ and other healthcare bills have caused almost as much of a financial headache for 37% of Brits.

The risk to healthcare accounting is compounded by the fact that many of those surveyed do not have a savings account with a substantial balance of funds that can be easily accessed.

“The old saying ‘it never rains but it pours’ can often be true when it comes to unexpected costs,” says M&S Money’s head of savings Paul Stokes.

“Contingency savings should be kept in an easy-access savings account, to ensure the money can be withdrawn quickly should you need it.”

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