Private Healthcare vs Waiting Cost

What this means

No waffle. Just the number and how it was worked out.

Formula used

Compares total private cost (treatment plus extra travel) against the estimated financial impact of waiting — daily income multiplied by wait days and an impact factor based on how severely the condition affects daily function.

Worked example

£2,000 private MRI, 26-week NHS wait, £150/day income, moderate impact (30%): waiting costs £2,925. Private saves £925 net — financially worth it.

Common questions

How is the 'cost of waiting' calculated?
The tool estimates lost productivity during the wait by multiplying your daily income by the number of working days you'd wait, then scaling by an impact factor based on how severely the condition affects your ability to work or live normally. 'No impact' gives zero cost; 'severe' gives 60% of full income for that period.

Is this tool relevant for Australia?
Yes. Australia has a similar two-tier system to the UK: Medicare covers public hospital treatment, but elective procedures often involve significant waiting lists in public. Private health insurance or self-funding private treatment avoids the queue but adds cost.

Should I factor in health insurance?
If you have private health insurance, the out-of-pocket cost may be much lower than the full private bill. Enter your actual expected out-of-pocket cost (gap payment in Australia) rather than the full procedure cost.

What about the Lifetime Health Cover loading in Australia?
If you don't have private health insurance in Australia and you're over 31, the 2% per year LHC loading applies when you eventually take it out. For some people, the financial case for getting private cover now is stronger than one procedure comparison suggests.