15 Healthcare Terms You Need to Know

healthcare

The words and terms used in the healthcare payments industry, for even the most experienced consumers, can seem like a foreign language. We want to make it less complicated. The better you understand the common terms thrown around in the healthcare space, the better prepared you are to secure the healthcare you deserve.

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What Goes into Healthcare Costs

healthcare costs

If you’ve received any type of healthcare treatment in your lifetime, you know the drill. You visit the doc, you get the procedure and then comes the bill. Really, you have no idea how much any of it is going to cost until you see that dreaded statement and how they came to the final amount is an even bigger mystery. So what are some of the items often seen on a billing statement?

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HealthCost: The Network for Everyone Else

netwok

The statistics from the Kaiser Family Foundation and CDC speak for themselves. Too many Americans are left paying excessive costs for healthcare services. They’re either completely uninsured or they fall within a network with extremely high deductibles that force them to pay heavy out-of-pocket expenses for their healthcare needs.

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Where to go When the Doc is Out: ER v. Urgent Care Costs

Urgent care

There is often a level of uncertainty when you’re unable to book an appointment with your regular doctor – should you visit an emergency room (ER) or an urgent care facility? Both have their benefits, but the real kicker comes with cost. Of course, if your symptoms seem life-threatening, you should always seek out the […]

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Let’s Address the Cost of Care

healthcare

The Wall Street Journal recently published an article discussing 2018 projected healthcare premium increases. It states that, on average, insurers will ask for a 20 percent increase in premiums, with some asking for over 50 percent. Before we get lost in the numbers, let’s consider a few points:

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The Reality of Healthcare Pricing: Price Variance

price variance

Price variance is the term used to describe price differences for the same medical procedure from one facility to another. Customers expect pricing to be consistent.The secret to eliminating price variance in healthcare is in price transparency.

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Talking Costs with Your Doc Shouldn’t be Awkward

healthcare costs

When it comes to most of the major purchases we make, we readily discuss and often negotiate the cost with a seller. Yet, when it comes to healthcare costs, most of us have somehow come to believe two things—the cost is what it is and it’s inappropriate, or even rude, to talk about anything related to costs with our healthcare providers.

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Feeding The Beast

A recent article in the New York Times article suggested that the Affordable Care Act had taken unemployed factory workers and provided them with healthcare jobs. In fact, the Deputy Mayor for Economic Development for the city of Akron said, “People who used to make deliveries to factories are now making them to hospitals.” Is this an incredible achievement? Well, let’s take a closer look.

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Physicians Can Now Use Technology to Set Rates

Physicians

The healthcare system is broken—not just for patients, but for providers as well. Until now, there has never been an open or straightforward way for doctors and healthcare professionals to adjust their own fees or share their actual pricing with their patients.

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My Penicillin Will Cost What?

penicillin

It’s been 75 years since the miracle drug Penicillin has hit the market. This got me thinking. With the media spotlight shining brightly on the cost of drugs in recent months, I wondered just how much this universally known, widely available drug might actually cost today.

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