Korea’s Q1 dental services spending up 11.7%

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South Korea: The National Statistical Office announced the ‘Household Trends in the First Quarter of 2022’ based on general households with one or more members nationwide on May 19th.

According to their announcement on ‘Household Trends in the First Quarter of 2022’, the National Statistical Office revealed that dental service spending in the first quarter of this year increased by 11.7% compared to the same period of the previous year.

Dental service items are expenses paid by non-hospitalized patients for dental treatment. Looking at the related dental service expenditures, the expenditure amounted from 31,000 Korean won in the first quarter of 2021 to 30,000 in the first quarter of this year. It recorded 5,000 won and increased by about 4,000 won

The dental expenditure, as a share of total health expenditure, has also increased. The dental service composition ratio, which recorded 14.6% in the same quarter of the previous year, showed an overall trend of increasing, accounting for 15.2% in the first quarter of this year.

Other healthcare expenditure items, as compared to the same period of the previous year, that also recorded significant increases include: Medical consumables (41.3%), outpatient medical services (10.5%), and medicines (10.1%). Meanwhile, expenditure for in-patient services decreased by 15.2%.

Based on average monthly consumption expenditure per household, the healthcare expenditure in the first quarter of 2022 was 231,000 won, up 7.5% from the same quarter of the previous year (215,000 won). All in all, healthcare expenditures across the board showed a healthy trend of recovery following the previous year’s slump largely attributed to the pandemic.