Private healthcare

Definition

Private healthcare is a system where medical and health services are provided by entities or individuals that operate independently of the government. Patients typically pay for services through insurance, out-of-pocket payments, or a combination of both.

Related terms

Public Healthcare: A system funded and provided by the government where healthcare services are available to citizens either free or at a lower cost.

Health Insurance:

A contract in which an individual or entity receives financial protection against the cost of healthcare services from an insurance company in exchange for premium payments.

Out: of-Pocket Payments - Direct payments made by patients for healthcare services received, not covered by insurance