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Finance Personal Finance 4 Tips to Escape Medical Debt and make Bills Behave
Finance Personal Finance 4 Tips to Escape Medical Debt and make Bills Behave
| 4 Tips to Escape Medical Debt and make Bills Behave |
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| Written by James Williams |
| Thursday, 26 March 2009 11:35 |
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Everyone seems to be struggling to pay off debt these days. Credit card bills are mounting. Student Loans seem to never go away. But debt derived from medical bills is becoming an ever-growing burden on a majority of people around the country. Thousands of dollars of medical debt can be acquired after a simple procedure, which only took a few hours on a Saturday. Those few hours of care can take years to pay off. In face, a key factor in many divorces across America.today is the burden of debt associated with medical procedures. Practical solutions are needed to deal with such a huge problem weighing on the minds of many good people. But all we seem to get are grandiose ideas about health care reform which work great in theory, but will take years to make it to the street. To help with that, here are a few very effective techniques for trimming you medical bills and staving off debt. 1. Shop Around. This is for those who read this BEFORE they procure another hospital bill. Many people seem to think that most doctors and hospitals charge about the same. Not so, my friend. They vary in price as much as your neighborhood Plumber or Electrician. Some assume that since they have insurance, they shouldn't worry about the cost of individual procedures. Again, not so. If you have insurance, you still have to pay deductibles and often some percentage of the total bill. Bottom line, shop around. 2. Request an Itemized Bill. Others businesses make mistakes, why not hospitals? There is always a possibility that you may be charged for a service you didn't have or billed a super-hefty price for insignificant items, like syringes. Most hospitals do not give you an itemized bill as a matter of practice, so you need to ask for one. This could save you several thousands of dollars if significant mistakes are caught. 3. Look out for Medical Codes. The medical industry has developed a coding system for diagnosing and treating common health issues. Every billable procedure will get a code so the insurance company knows how to deal with it. So, why do you need to concern yourself with such detail? It may be best explained by this example. Assume you have had migraine headaches in the past. One day, you have to go to the emergency room due to pain in your forehead. The doctor on staff discovers it is a simple sinus issue and sends you on your way. When he writes everything up, he may code the diagnosis as a sinus headache, or he may just use the code for a migraine. Maybe he had it on his mind because he read it in your chart or you mentioned it while you were being examined. Anyway, if your insurance company has migraines down as a pre-existing condition, guess what, they are going to deny any claim. In this situation, it is rarely helpful to deal with the insurance company directly. It would be better to talk to the physician who helped you, because if they realize their error, they can simply resubmit the paperwork and clear the whole thing up. 4. Request a Discount. Everyone knows someone who is either without medical insurance, or is lacking significant medical coverage. For example, securing an independent insurance policy that covers maternity is near impossible these days. But if you find yourself without insurance, you may be eligible for a discount. The cost of filing insurance claims has driven costs higher for doctors and hospitals, and they have responded by increasing the prices you pay. However, in many cases, if you pay them directly and thus absolve them from having to file insurance paperwork, they may cut their prices dramatically. Other discounts may be given for up-front payment or early registration. Do inquire about discounts any time you are facing a significant medical procedure. About the Author: James offers tips, tricks, and common sense advice about reducing debt on his website where he helps people get out of debt. Kindly provided by LJ-Marketing.dk You are welcome to use this article on your own website, if you include the link just before this text. |
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