According to research conducted by Applied Marketing Science (AMS), an overwhelming majority of consumers would take at-home COVID-19 tests, and roughly one-third of employers would pay for the safety measures.
Ninety percent of consumers would use an at-home COVID-19 test, including half who would use a test at least once per month. Of those surveyed, 75% would be willing to anonymously share their results with local public health officials, and 57% would be at least somewhat willing to share results with their names attached.
“This study has broad implications for everyone from consumers and health officials to employers and even payors,” said John Mitchell, President and Managing Principal of AMS. “As we near the one-year mark of the global shutdown, people are desperate for life to return to normal. Our research shows how we can increase accessibility to testing, giving health officials more targeted ways to fight the pandemic and helping more schools, public services, and businesses reopen.”
To pay for those tests, 33% of businesses – particularly employers in office settings – would consider covering the full cost of an at-home test. In terms of pricing, 66% of employers reported they would pay between $5-35 per test, and 64% of payors said they would reimburse between $25-75 per test.
“At-home COVID-19 testing adoption relies on two factors: accuracy and price,” said Mitchell. “Consumers will be more likely to use at-home testing as employers and payors shoulder more of the expense, and as accuracy rates go up.”
Of tests that are 80% to 95% accurate, 67% of consumers would take an at-home test if it was fully paid for by insurance, employer, or other agency, but that number drops to 38% of consumers if partially paid for, and 21% of consumers if they had to pay for it themselves.
The primary research study was conducted by AMS during the pandemic to explore general consumer, payor and employer attitudes towards and adoption of at-home diagnostics, and the willingness to pay for at-home COVID-19 testing. Data was gathered through three 15-minute web-based surveys. Participants included 3,870 consumers, 78 payors and 250 employers. The Bill & Melinda Gates foundation provided funding for the study.
Contact our in-house medical research expert, John Mitchell, to learn how our team can support your medical product and healthcare innovation.
Tags: Healthcare Markets