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Seven Ways to Save on Medical Bill When it comes to health care, cutting costs without cutting corners is key 
The economy doesn't have to be in a recession for health problems to plunge your finances into a world of hurt. Letting the bills pile up or, worse, skipping treatment, is not the answer. You just need to practice a little preventative "medicine." Of course, there's no way to predict a medical emergency, but here are seven proactive ways to help reduce the pain you'll feel in your wallet. 1. Educate yourself about your services Today, before anything has happened to you, take some time to go over your insurance policy with a fine-tooth comb so that you have the best understanding you can about what's covered and what's not, says Kathleen Harris, senior online editor for the recently re-launched RealSimple.com. Then, before a procedure takes place, ask the medical provider what the fee is, if there any hidden costs and what the fees might be for typical complications. Verify that these services are covered by your insurance and confirm that your doctor is in network. "The overall point is 'Don't be afraid to ask questions,'" says Harris. "You want to be prepared so that you aren't stuck with a surprise bill when you're trying to recuperate." 2. Ask about options Ask your physician if all the recommended testing and procedures are medically necessary, especially if you have no insurance or a high co-pay. He or she may be able to suggest a cheaper alternative. 3. Ask for a discount A 2005 Harris Interactive poll found that 70 percent of people who spoke with a hospital were successfully able to negotiate a lower price for their medical bills, and the same went for 64 percent of those who negotiated with a dentist, 61 percent for a doctor and 56 percent for a pharmacist. Even 45 percent were able to negotiate a discount with their insurance company. At the very least, your care provider may be willing to set up an extended plan that allows you to make smaller, more manageable payments over a longer period of time. 4. Pay in cash Offering to pay upfront in cash can take 10 to 30 percent off your bill, says Harris. It reduces the medical provider's credit card fees, paperwork and manpower, and demonstrates that you are clearly able to pay. 5. Go generic According to the FDA, cheaper generic medicine is just as effective and safe as name-brand drugs, says Harris. In fact, it is often produced in the exact same plants. Buying from a doctor-recommended mail-order pharmacy and/or in bulk, will often add to your savings, or try asking your care provider if they have free samples – these can include anything from over-the-counter cold medicines to asthma inhalers or antibiotics. 6. Double-check your bill According to ConsumerReportsHealth.org, billing errors are common at hospitals and other health-care facilities, so ask for an itemized bill and check it for accuracy. Frequent errors include: inflated room and incidentals charges; duplicate fees for tests and procedures; inflated operating room time; incorrect dates of service; and human errors that result in the wrong billing code. 7. Get an advocate For more complex situations, consider hiring a medical-claims professional to help ensure that your bills are correct, track your payments and advocate on your behalf. According to Rebecca Stephenson, a registered nurse and CEO of Austin, Texas-based VersaClaim, Inc. and co-president of the Alliance of Claims Assistance Professionals, if you are simply angry about a $200 office visit and you want to fight it on principle, it probably wouldn't behoove you to hire a claims professional; but if your situation is serious, overwhelming or long-term, it will most likely save you meaningful money. "We're kind of like medical accountants," Stephenson says. "We know all the codes and what a bill should look like, but we can also take the emotions out of the equation so that negotiations go faster and nothing is overlooked." |
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