Consumers are seeing rising costs in healthcare services as well as insurance plan deductibles. As patients try to save money where they can, Consumer Reports says that one way to save money is to ask for a direct cash from your healthcare providers. Medxoom can help patients weigh their options with pre-service pricing technology for healthcare services and employers with cash e-payments systems for their employees.
From Consumer Reports:
“Even if you have health insurance, sometimes you are better off not using it.
A growing number of medical services, from MRIs to blood work to outpatient surgery, could cost you less—sometimes a lot less—if you pay the provider out of your own pocket and leave your insurer out of the picture.
People in high-deductible plans who must spend thousands of dollars on health services before insurance even starts to kick in to cover some of the cost. But as consumers shoulder more of the cost of their care, they are seeking ways to save money.
And healthcare providers are finding that by charging people who pay cash less than the insurer-negotiated rate for some health services, they can come out ahead financially too, says Bill Kampine, co-founder and senior vice president of analytics at Healthcare Bluebook.
Healthcare providers make up for charging lower prices other ways, Kampine says. Cutting out the insurer as the middleman can significantly reduce the provider’s administrative and billing costs. And healthcare providers who get cash upfront don’t have to chase down the money later, either from a patient or the insurance company. “It’s a much easier transaction in a cash pay environment,” Kampine says.”