An Arm and a Leg
A visit to the hospital can be painful, for both your body and your wallet. Don’t let it cost you an arm and a leg.
A visit to the hospital can be painful, for both your body and your wallet. Don’t let it cost you an arm and a leg.
While rushing to the hospital, “ouch” is usually the upper most thought in your mind, rather than I wonder what the bill will look like.
Once you’re bandaged up, though, that hospital visit can sometimes come with a little bit of sticker shock.
Spending on health care rose 9.9% in the first quarter of 2014. Some of that spending increase may be due to billing errors.
One landmark study found that as many as 8 out of 10 hospital bills contain errors.
Errors can include billing twice for the same medications. Billing for extended operating room times, or up-coding. The practice of escalating your diagnosis code to a more serious condition.
Make sure you carefully review your bill when it arrives. If you can’t, or don’t have time, it’s possible to hire a billing advocate to review your bill for you.
These services typically cost anywhere from $75 to $130, or a percentage of the amount they save you.
If you do find any errors, report it to the hospital’s billing department, and also to your insurance provider.
A visit to the hospital can be painful, for both your body and your wallet. Don’t let it be more painful than it has to be.
rebel Financial is a Registered Investment Advisor that provides retirement planning, estate planning, financial planning, and investment management services to individual and institutional clients. To get a more detailed description of the company, its management, and practices, view our (form ADV, Part2A) and Disclosures.
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