Beyond borders, beyond bills: Unpacking the universal pain of medical expenditures

K. Mohamed Jasim, Mustafeed Zaman, Rajibul Hasan (), Shahriar Akter, Tan Vo-Thanh () and Demetris Vrontis
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K. Mohamed Jasim: VIT - Vellore Institute of Technology
Mustafeed Zaman: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Rajibul Hasan: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Shahriar Akter: University of Wollongong [Australia]
Tan Vo-Thanh: Excelia Group | La Rochelle Business School
Demetris Vrontis: UNIC - University of Nicosia, SP Jain School of Global Management [Singapore]

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Abstract: Medical expenditure poses a significant burden on individuals in developing countries. This study examines the dynamics of the pain of payment in the healthcare sector across India, Bangladesh, Sri Lanka, and Pakistan. The results show that positive price perception, negative price perception, participatory pricing mechanisms, pain at the time of payment, and the intention to avail of preventive measures have a significantly positive effect on the willingness to pay (WTP) medical expenditures. In contrast, perceived risk (PR) shows a significantly negative effect, indicating that WTP increases as PR decreases. This study enriches the existing literature by integrating adaptation level theory, consumer perceived risk theory, and consumer preference theory to explain individuals' willingness to pay for medical expenses in 360 degrees. It also assists medical service providers in understanding both the WTP and the psychological pain incurred during medical spending, particularly among the middle-income group.

Keywords: Willingness to pay; Price perception; Medical expenditure; Medical care; Pain of paying (search for similar items in EconPapers)
Date: 2025-10-01
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Published in Journal of Business Research, 2025, 199, pp.115566. ⟨10.1016/j.jbusres.2025.115566⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05568844

DOI: 10.1016/j.jbusres.2025.115566

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