Consumer healthcare spending continues to rise, not surprisingly due in part to the COVID-19 pandemic. National health spending projections for 2021-23 will continue to inch upward 5.4 percent per year, according to research compiled by the National Health Expenditures Accounts (NHE). Insurers have tightened the reins shifting more financial burden to their members. And with inflation, furloughs, unpaid family leave, and mounting medical and prescription costs, it's no surprise that family budgets are stretched thin.

When the economy is strong, the retail industry experiences growth. However, that extra consumer cash does not always flow into the medical industry. That is because for most consumers, budgeting for healthcare is lower priority, and high deductibles put cost of care out of reach for many Americans. Consumers are more reserved when it comes to healthcare, often seeking the least expensive approach to care.