The cost of PMI has increased in recent years due to advances in medical treatments, technology and new drugs. As the medical profession and drug companies continue to come up with new treatments and new medicines these extra costs mean that the cost of medical treatment has increased and this has forced insurers to increase premiums too. Here we look at some of the new treatments and medical procedures.

Heart problems

The cost of treating and diagnosing heart problems has increased due to medical advances. Ultrasound is now routinely used to investigate and to scan for heart problems. Heart pacemakers are now so sophisticated they can cost £25,000 to £30,000 each. For example, some pacemakers can administer an electric shock if necessary when the heart stops working properly. Other pacemakers can be monitored remotely so doctors can make sure patients are not having problems.

Increasing use of Medical Screening

Advances in screening for medical conditions is not only costly to implement, but also means that more illnesses can be detected and operated on. Of course to some degree these additional costs are offset by not having to treat so many serious illnesses that are not detected early. For example, prostate screening has meant that more cases are being detected early, which can mean that they can be treated before the illness is life threatening.

More Sophisticated Cancer Treatments

Advances in cancer treatments and drugs is leading to the medical profession and politicians having to make difficult decisions about who should have access to the latest cancer drugs. Cancer drugs are often very expensive and may only extend life for patients by a few months. As well as new drugs treatment often involves a combination of drugs, chemotherapy and radiotherapy. As a result treatment for one cancer patient can cost between £25,000 and £50,000.

Treatment of Knee Injuries

Treatment of injuries to joints, like, the knee, would previously have been examined by a consultant or doctor and possibly with an X-ray. Nowadays diagnosis of joint problems often involves an MRI scan or an internal investigation using arthroscopy (a tube with a tiny video camera can look inside through a small incision).

The cost of Breast Reconstruction

Often following cancer women need expensive treatment to reconstruct their breasts following surgery.

The Future

As a result of medical advances like these and new treatments this is affecting how much insurers have to charge for private medical insurance. In future as the population gets older both the NHS and insurer will have to make difficult decisions about the treatments they use and who is treated. Insurers will have to decide which illnesses and treatments they cover and how much to charge policyholders.

How to Find the right Private Medical Insurance

Private medical insurance is complicated and it's essential that you choose the right policy. We specialise in medical insurance cover and will search the market and help you find the right cover at the best price available. Quotes for medical insurance are free and you are under no obligation.