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The Economics of Men’s Health

There are many factors that determine the success of your personal finances, but have you ever considered how your health may affect your ability to earn, save and accumulate wealth? Studies have shown that men in poor health earn less over their lifetime in comparison to healthier men. Studies indicate that the cumulative effect of an unhealthy lifestyle can create a wealth gap of over $150,000 by age 65 between healthy and unhealthy men. 

The more you think about your health and the ability to earn, it becomes easier to see that a healthier life will increase your potential for higher financial gain, and statically a longer life. Based on research, unhealthy people earn less, work less and live shorter lives.  

So what can be done to improve men’s health? While genetics do play a role in your health, there are a variety of behaviors that can improve health Some are obvious and are talked about frequently, others may be less obvious, but not less important. 

The Obvious: 

  1. Stop smoking 
  1. Lose weight 
  1. Drink in Moderation 
  1. Exercise regularly 
  1. Get enough sleep 
  1. Eat a healthy diet 

Less Obvious 

  1. Socialize 
  1. See a doctor regularly 
  1. Work stress 

Some Statistics to put it all in perspective: 

  • 350,000 men die of cardiovascular disease every year. This is the leading cause of death in men. 
  • Over 750,000 men are diagnosed with cancer annually 
  • 230,000 men are diagnosed with prostate cancer every year, the 2nd leading cause of death in men 
  • More that 60% of adult American men are overweight 
  • Only 3 in 5 men get annual physicals 
  • 40% of men only see a doctor when they think they have a serious condition 
  • By age 65 healthy men have accumulated over $150,000 more wealth than unhealthy men. 
  • 45% of men postpone or avoid medical treatment because of cost. 

So, it’s easy to equate a healthier lifestyle with not only enhanced wealth but a more active longer life as well. If concerns about the affordability of healthcare are keeping you from seeing a doctor or getting the treatment you need to live a healthy life, then consider one of the healthcare financing options we offer at HiLite Pay. 

About HiLitePay

HiLitePay  is a turn-key Patient Payment Platform. It accelerates self-pay revenue by implementing a repeatable process to communicate with patients through an automated  workflow. Once in place, HiLite Pay takes care of all patient outreach, payments, and live customer support. We know the hardest thing for collecting patient balances is communication, consistency, and errors. HiLitePay  automates patient responsibility communication through scheduled texts, email, and US mail communications, significantly reducing mistakes due to human error.

Starting with initial billing all the way through to collections HiLitePay keeps patients up to date and informed of their balances due. The unique part of HiLitePay  is that we can offer affordable financing solutions for patients who have trouble meeting their financial obligations. From initial billing through to posting payments into your PM, HiLitePay  will improve your collection rates, reduce over 90 A/R and provide a positive financial experience for your patients.