Care Costs
Ways to increase savings after an emergency
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BY CONNIE SUTTON t’s a fact, participating in sports increases the likelihood of injury. From torn ligaments to broken bones, playing hard sometimes means falling hard. Accidents happen. With everincreasing healthcare service costs, rising insurance premiums, inflated prescription drug prices and provider billing mistakes, the average cost of healthcare is high. When the need for medical attention becomes an emergency the costs rise. While certain medical costs are indeed unavoidable, it is still possible to reduce healthcare spending.
What Kind of Care do You Need?
A trip to the emergency room can cost thousands depending on the treatments you receive, while an urgent care, or same-day doctor’s appointment can cost between $25 to $100 depending on your insurance coverage. There are other benefits to urgent care as well. The average wait time in urgent care is less than half an hour, compared to over four hours for emergency room care. Moreover, over 80% of visits last less than 60 minutes. If the injury isn’t a lifethreatening issue, opt for an urgent care clinic or seek a same-day appointment with your regular provider.
Stay in Network
Unless there is a compelling reason to go out of network, avoid it. Most insurance companies won’t pay for outof-network providers. If they do, it will be at a lower rate than your in-network fees. Before visiting a doctor, or specialist, ask your insurance company for a list of in-network providers or access that information on its website.
Reduce Medication Costs
There are several ways to save money on medications. For people taking regular prescriptions, purchasing a 90day prescription rather than renewing month after month will generally save you money. Avoid buying a name brand, and ask for generics. According to the
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FDA, generic medications can cost, on average, 80 to 85% less than brandname equivalents. Doctors’ offices often receive free drug samples. The next time your provider writes a new prescription, be sure to ask if they have any samples on hand. Saving even a small amount of money here and there will go a long way over the course of a year.
Negotiation Skills
If the injury or illness is severe, you may need a test or service that insurance won’t cover. If that’s the case, negotiate with your provider before absorbing the full cost. If paying out of pocket, medical offices are often able to give you a break, so don’t hesitate to make it clear that you could use one.
Review Your Medical Bills
The statements from providers or insurance companies are the last thing you want to spend time reading, but it is important to review them, especially if the bill is higher than expected. It’s easy for a procedure to be coded incorrectly, causing the insurance to pay less, or deny the claim altogether. If you receive a bill that is higher than expected, question it. If an error occurred, find out where. Sometimes, asking the office resubmit a claim will be the difference between having it covered or not.
Final Thoughts
Avoid overpaying for healthcare by taking necessary precautions. Take the time to seek the right kind of care, actively seek discounted services and prescriptions, review bills and work closely with the billing or finance staff. With these tips, many people can manage to significantly decrease overall medical costs. l
