Receiving the medical bill is the worst aftereffect of seeing a medical provider. Families across the globe have difficulty paying the price of healthcare. A staggering 2 million Americans are plagued by medical bankruptcy and one out of every five adults struggles to afford medical care. Fortunately, there are plenty of payment options available. Negotiate effectively after you gain the right knowledge. Doctors and billing clerks are willing to negotiate, especially if you have financial difficulties. Learn about the 5 different ways that you can reduce your medical bill.
1. Learn the Correct Rates
Know if the costs charged to you are actually correct. Review the rates and discounts shown on the insurance company’s website. Have a good idea of the general costs charged by most medical providers. Look in medical blue books to check the reasonable costs of various procedures.
2. Ask About Outpatient Services
See if you can avoid the overnight bed stay and rest at home. The outpatient services are always more affordable. You could save thousands of dollars in unnecessary payments. Choose a surgeon who provides outpatient benefits if the surgery is appropriate.
3. Use Proper Words
Learn how to speak properly to the billing professionals. You can apply discounts and make negotiations for a treatment. State your financial situation clearly and ask for a reasonable adjustment in the billing. You can pay right away in exchange for a reduced bill. Negotiate well if the insurance plan does not provide enough coverage. Look at the various ways that you can reduce the costs.
4. Review Payment Plans
If you must pay a large bill, look into installment plan options. Many expensive professionals have these plans in order to increase their list of clients. You can save up money and make a full payment sometime down the line. After you make a series of timely payments, you can renegotiate the monthly payments as well.
5. Work With a Charity or Debt Relief Program
A medical debt relief program has a wide range of personalized options for people who have stubborn debts. Know your rights when it comes to negotiating payments and dealing with debt collectors. You can consolidate bills that come from multiple sources. A similar solution is to use a medical charity that provides free or affordable healthcare services. Cobalt Health is an organization that provides preventative and diagnostic services for people with cancer and other ailments. From charities to debt relief providers, there are different groups that support healthcare causes.
Making more money is one way to reduce a medical bill. However, there may be errors that must be corrected before you make payments. You may want to work with a cheaper medical provider. Instead of simply swiping the credit card, or possibly taking out another credit card, figure out how you can save on healthcare.
Karleia is a financial blogger residing in Utah. Away from the office she enjoys spending time with her two young daughters.