More Ways to Save Money on Healthcare

September 30, 2016 at 6:52 pm Leave a comment


The healthcare system can be complex, but with a little work, savvy consumers can receive quality care for less. Consumers are now encouraged to approach medical care as they do other purchases – shopping for not only quality, but also price. Doing so could mean the difference between paying $150,000 for a procedure or $30,000 for a procedure.


Despite the complexity, there are things you can do to get better healthcare for less. Here are additional ways to save money on healthcare:


  • Ask a lot of questions. Ask questions such as: “Is this test really necessary?” “Is there a generic version of that medication?” “Are there less expensive alternatives to this treatment?” “How much is this procedure going to cost?” And, finally, ask who is going to be involved in the procedure to make sure they’re in your network.
  • Know what your health insurance policy covers. Look into what your health plan covers before you need to use it. Find out about preapprovals, emergency room visits, copays for doctor visits and coinsurance for procedures.
  • Ask for prices upfront, and ask about discounts for cash payments. This may require calling your doctor or hospital to find out what a procedure or an office visit will cost. Remember, some doctors and facilities will offer a discount if you pay cash.
  • Get copies of all your medical test results and records. Bring these results and records with you to consultations to help cut the number of tests and office visits. Your doctor will also be able to review your test results and can advise you immediately rather than needing to set up another appointment after test results arrive.
  • Negotiate big medical bills. If you go into a hospital or undergo an expensive procedure, get an itemized bill, preferably before you leave the hospital. Once you’ve made sure it’s free of errors, ask the hospital billing department for financial assistance, a discount for paying in cash or a payment plan.


View this previously published article for other ways to save.


Source: Adapted from U.S. News and World Report. 12 Simple Ways to Save Money on Health Care. 1/2015.

Entry filed under: Cost Savings.

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