I’ve started this blog for the same reason I helped created INSNET, LLC, which was to help people save money on their medical bills.
Since 1985 Insurance Negotiating Service has assisted insurance companies by negotiating medical claims. INS has represented some of the largest insurance companies and we have saved our clients millions of dollars.
While we were reducing the amount our clients had to pay on claims, we noticed that the patients were not realizing any of the savings as a result of our negotiations. With the rising cost of healthcare; and higher deductibles and copays, individuals are paying more than ever for their healthcare. We created INSNET to be the individual’s safety NET to avoid overpaying their medical bills.
When you get a medical bill you probably do one of two things, and they are both wrong! Most people either ignore the bill or pay it. If you ignore the bill, the account could be turned over to collections which could adversely affect your future credit worthiness. Paying the billed charge is also wrong. I came across the article in a recent issue of Business Week which will explain a practice called ‘balance billing’
The healthcare industry is similiar to the automobile, airline and hotel industries. They each have different charges rates based on who is paying the bill. Have you ever asked the person next to you on an airplane how much they paid for their ticket? More often than not it is not what you paid for yours. The healthcare industry is similiar and I’ll be sharing detailed examples with you in future posts. Here’s a brief example: You could have adult identical twins examined in the same hospital for the same condition. They are given the exact same treatment and discharged at the same time. Depending on what type of health insurance they each have, the hospital will collect different amounts from each twin.
As this blog progresses, I will go into further detail about hospital reimbursement rates, errors, over payments, appeals, advocacy, ppo’s and many other healthcare issues.
