Is Financial Literacy a Determinant of Health?
Changes in economic conditions and healthcare delivery models have shifted more healthcare costs to patients, resulting in greater patient financial responsibilities. As a result, it is important to understand the potential impact of financial literacy on patients' healthcare behavior. With the focus on delivering better health outcomes at lower costs, factors that influence patient behavior are important considerations for healthcare providers. Although researchers have proposed a variety of conceptual models that identify influential factors, those models do not fully address financial literacy and its potential impact patients' healthcare decisions. This article examines existing models of patient healthcare decision-making and current research on factors affecting patient decision-making and behavior and then presents recommendations for closing the identified gap in our current knowledge.
College of Health Sciences, University of Massachusetts, Lowell, Dugan Hall 108, 883 Broadway St., Lowell, MA, 01854-5121, USA. melanie_meyer@uml.edu.
Melanie
http://orcid.org/0000-0002-1850-8473
M
Meyer
D003657:Decision Making; D005382:Financing, Personal; D057220:Health Literacy; D006296:Health Services / Q000706:statistics & numerical data*; D006801:Humans; D007348:Insurance, Health; D010358:Patient Participation