Understanding Medical Bills

Have you ever undergone medical treatment in a hospital before? Were you already feeling well at the end of the course of the treatment only to find your ridiculously overpriced medical bills?  Most of us are insured but it does make you curious how it happens right? This article now is presented to you as a way of understanding medical bills.

 

Just about everyone in this day and age thinks that healthcare is a top personal and financial priority… And we do get the medical care that we ask for. There are a lot of hospitals with cutting edge facilities along with well-trained physicians and other health care professionals. However, some circumstances make the charging process more complicated. Issues such as provider billing mistakes, healthcare services themselves, health insurance plans, and prescription drugs can can all contribute to that complicated process. What can then happen is an overpriced hospital bill that might just give you a heart attack.

The first factor we tackle is health insurance policies. In a recent survey conducted by the Consumer Reports National Research Center in March, nearly one-third of 2,000 privately insured people said that they had received a surprise medical bill in which their insurer had paid less than they expected. The main reason for this? Most insured patients themselves are actually befuddled by complicated health-insurance terminology. Another study was conducted to test this where a quiz about health insurance concepts was given. The result? Only 4% of the respondents answered all 10 questions of a quiz about health-insurance concepts correctly.

The second reason why you’re medical bill is so high is the the system of separate facilities and separate service providers, all operating individually but under one hospital. Imagine being admitted for a scheduled appendectomy (a procedure to remove the appendix) and, at the same time, you are also taking medications for diabetes. Just with your case alone, a surgeon will come to see you, an anesthesiologist will come to see you, and an internist or endocrinologist will also come to see you. At the end of your hospital stay, all three of them will be charging you. Sometimes, it’s also not always possible for patients to guarantee that every doctor they see during a hospital stay will be in their insurance network. This will be most prominent in emergency cases.

So what are the preventive measures? Before your admission, remember to discuss your estimated length of stay and anticipated tests and services with your physician. It’s good to be aware of all the details so that you can check to confirm that your insurance provider will cover all of the charges. Do contact your insurance provider too and confirm what services, tests and procedures they will only cover. Many insurance carriers have coverage limits on room charges and certain tests, services and procedures.