Independa: Heath Survey: Most Older Adults Cut Back on Essentials to Afford Medications

LOS ANGELES, Calif. – November 21, 2024 – Independa, an award-winning platform for remote engagement, education and care, today announced the findings of its 4th Annual Health

Survey. This survey polled over 1,000 U.S. citizens aged 55 and above, providing insight into the financial challenges affecting healthcare decisions among older adults and the increasing role of telehealth services in the lives of older adults.

A staggering 95% of respondents acknowledged having made healthcare compromises due to economic constraints. Also, a substantial 63% of participants are “significantly concerned” about healthcare expenses impacting their finances.

The financial pressures have led many older adults to make considerable sacrifices. The survey revealed that 96% have reduced spending on essential items to afford medications, with 34% “often” cutting back and 61% doing so “occasionally.” In cases of a financial shortfall, nearly one-quarter (24%) of respondents indicated they would rely on family support, while another 24% would resort to selling assets to cover healthcare expenses.

Lastly, affordable healthcare emerged as a crucial concern, with a notable 90% of respondents ranking it as "most important" or "very important."

Telehealth: A Rising Solution for Accessibility and Convenience

Telehealth has gained popularity for its ability to provide cost-effective and convenient access to healthcare. The survey revealed an astonishing high number of respondents (99.7%) report feeling equally or more comfortable receiving medical help from the comfort of their homes, up from 75% in 2021. Also, 99% of participants said telehealth is more convenient compared to traditional in-person appointments, up from 86% in 2022 and 75% in 2021. Telehealth experiences took less than 30 minutes for 64% of respondents compared to conventional doctor office visits requiring 2-3 hours, according to 68% of survey takers.

Ease of access and use continued to improve with 84% of respondents finding the setup and attendance of telehealth appointments straightforward, up from 78% in 2023 and 57% in 2021. Computers remain the preferred devices for telehealth for 71% of users.

Interestingly, 97% said they are comfortable with artificial intelligence (AI) helping to diagnose their health issues.

"Our findings highlight the ongoing financial challenges faced by older adults in managing their healthcare needs and achieving health equity," said Kian Saneii, founder and CEO of Independa. "Telehealth can help reduce financial and accessibility challenges, while improving comfort and convenience. Independa remains committed to accessible and simplified healthcare services and benefits, so individuals can maintain their health and independence comfortably and cost effectively."

Overview of findings:

Healthcare Concerns and Financial Constraints

● Affordability: An overwhelming 90% said affordable healthcare is “most important” or “very important”

● Financial Constraints: A vast majority (95%) report that financial limitations have forced them to make healthcare compromises

● Healthcare Cost Concerns: A strong majority (63%) “significantly concerned” about healthcare expenses affecting their finances

● Sacrifices for Medication: A third (34%) “often” cut back on essentials to afford their medications and 61% “occasionally” cut back

● Short of Funds: If short on funds nearly a quarter (24%) rely on family for support and another 24% sell assets

Comfort and Convenience with Telehealth

● Comfort: Nearly all respondents (99.7%) report feeling equally or more comfortable receiving medical help from home

● Convenience Perception: A strong majority (99%) see telehealth as more convenient than traditional in-person appointments, marking a steady rise from 86% in 2022 and 75% in 2021

● Time Efficiency: Among those with telehealth experience, 64% found that consultations took less than 30 minutes, while in-person visits typically required 2-3 hours for 68% of respondents

● Likelihood of Choosing Telehealth: Nearly all respondents (99%) are likely to choose telehealth for their next appointment, up from 72% in 2021

Ease of Use and Accessibility

● Importance of Accessibility: Accessible healthcare remains a priority, with 48% rating it "very important" and 41% as "most important"

● Ease of Setup: A majority (84%) found setting up and attending telehealth appointments straightforward, up from 78% in 2023 and 57% in 2021, indicating growing familiarity and ease with telehealth technology

● Device Comfort: Computers are the preferred device for telehealth sessions, with 71% feeling comfortable using them

Health Conditions and Telehealth Preferences

● Primary Health Concerns: As respondents age, the most common concerns are fall risks (45%) and heart-related issues (42%)

● Prevalent Health Challenges: Over half (54%) report living with diabetes, 39% with obesity and 35% with asthma

● Preferred Benefits of Telehealth: Key reasons for choosing telehealth include comfort and convenience (54%), infection control (50%) and saving travel time (48%)

About Independa:

Founded in 2009, Independa, Inc, is the innovator of the award-winning social engagement, education and care platform. The Independa Health Hub® provides an ecosystem of health and wellness applications and benefits, including bi-directional, easy-to-use video chat, allowing care recipients to stay more healthy, independent and socially engaged, while reducing the costs and complexities of care. Beyond direct consumer benefits through integration in all LG TVs, Independa addresses remote engagement and operational costs and staffing challenges in home care, home health and senior living communities through market-specific enterprise solutions. Independa helps people stay at their residence of choice longer, safer and more comfortably, delivering on the joys of a Life, Connected™.