In a concerning trend that has quietly taken hold of the American healthcare system, patients are paying more for their health coverage while receiving less in return. This phenomenon, aptly dubbed “shrinkflation,” is leaving many Americans frustrated as they endure longer wait times, shorter doctor visits, and dwindling access to quality care, all while their healthcare costs continue to rise.
A recent report by Axios has brought this issue into sharp focus, revealing that despite the U.S. spending more on healthcare than almost any other country, the returns are diminishing. The report highlights a troubling erosion of the doctor-patient relationship, with patients increasingly turning to urgent care clinics and telehealth services as traditional avenues of care become less accessible.
The numbers are stark. An Axios/Ipsos survey conducted in August found that nearly one in five Americans reported waiting more than two months to see a physician. This is a significant jump from pre-pandemic times and speaks to a broader crisis within the healthcare system. Additionally, a survey from Tebra, an electronic health records company, found that 43% of patients have been experiencing longer wait times since the pandemic, further underscoring the growing inefficiencies in the system.
Hospitals are also feeling the strain. NYC Health and Hospitals, one of the nation’s largest public healthcare systems, has reportedly instructed primary care doctors to limit appointment times to just 20 minutes in an effort to accommodate more patients. This reduction in time spent with each patient not only diminishes the quality of care but also leaves many patients feeling rushed and unheard. The average wait time for the “third next available” primary care appointment at NYC Health and Hospitals has nearly doubled from 12 days to 22 days, according to the report.
Robert Pearl, a Stanford University professor and former CEO of The Permanente Medical Group, offered insight into the root causes of this crisis. He pointed to higher patient demand since the pandemic, bureaucratic red tape surrounding health insurance, rising costs, and a growing number of doctors choosing to leave the field as key factors contributing to the decline in healthcare quality.
“You’re paying actually more for your health coverage, but you’re not getting more. You’re actually getting less,” Pearl told Axios, highlighting the frustration many Americans feel as they grapple with the realities of a system that seems increasingly broken.
The report warns that this issue is likely to worsen over time, creating a “vicious cycle” where growing demand leads to further reductions in care, which in turn drives even higher demand. As more doctors leave the profession and patient loads increase, the system’s capacity to provide timely and effective care diminishes, leaving patients with fewer options and longer waits.
For a nation that prides itself on having the best healthcare in the world, this is a sobering wake-up call. The healthcare shrinkflation crisis is not just about numbers on a page; it’s about real people—families, seniors, and children—who are paying more and getting less, often with serious consequences for their health and well-being.
As policymakers and healthcare leaders grapple with how to address this growing crisis, one thing is clear: the status quo is unsustainable. Americans deserve better, and it’s time for a serious reevaluation of a system that has long prioritized profits over patients.
