The real cost of private medical procedures

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A survey by Standard Life Healthcare shows that while two in three people would consider going private, most of them have the wrong idea about how much treatment costs. 

The survey will be published at the end of October 2008 and shows that only one in three people knew that a coronary artery bypass would cost as much as £14,500. The same number thought it would be £10,000 and one in four people thought it would be just £8,500. Nearly one in ten thought it would be only £5,000. At best that’s a shortfall of £4,500 for some people or almost as much as £10,000 for others.

Without the reassurance of medical insurance or adequate savings it could be stressful at precisely the wrong time for someone who couldn’t or didn’t want to wait for NHS treatment. There were similar results among people who said they would pay for medical treatment when asked what a knee replacement might cost.

There is a clear case for people who put off taking out PMI to be made aware of the true cost of healthcare, especially if they are considering self-paying. Medical costs are dearer than people imagine and if they don’t want to wait for NHS care, or can’t, they might get a nasty shock.

The research also underlines the major benefits of PMI with eight in ten people saying that being treated quickly is an important benefit. Three in four people say that being able to recuperate in clean and comfortable surroundings is important too.
We've outlined the costs of some of the most common private medical procedures below.

Carpal Tunnel Release £850 - £2,100

Cataract Removal £1,550 - £3,250

Colonoscopy £1,000 - £1,650

Hernia Repair £1,500 - £3,800

Hip Replacement £7,200 - £10,300

Knee Replacement £8,500 - £14,600

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