Haggle Your Healthcare
I know you’ve noticed healthcare costs keep going up and the quality of the service keeps going down. Maybe you can’t haggle with your rising homeowner’s insurance premium or the cost of a dozen eggs at Publix, but you can haggle the cost of your medical care. With an increasing number of folks having to forego health insurance because of rising premiums or raising their deductibles and co-pays to try and control costs, learning to haggle your healthcare has become increasingly important.
Here are some tips for lowering your healthcare bill without sacrificing your health:
1. Ask questions to avoid unnecessary treatment and diagnostic tests
Researchers estimate 30% of healthcare is unnecessary. The best defense to this waste is to understand what your doctor is recommending and why. The internet and artificial intelligence apps like ChatGPT are wonderful ways to do your own research, post questions to experts and take charge of your healthcare. Always consider getting second opinions before agreeing to any diagnostics or procedures—the additional cost of time and money can make a huge difference to both your health and wealth.
And if a medical provider isn’t happy with your efforts to understand what’s going on with your health and your questions about their diagnosis and recommended treatment, perhaps that’s a sign to “run” and find a better provider. Generally, doctors who truly care about their patients are less likely to make mistakes that can cost you a whole lot of money and time to fix.
2. Use only the best doctors
In every journey, it’s best to start down the right path. In healthcare, that means always search for the best doctors to treat you. Do not make the mistake of thinking that if the doctor was smart enough to get a medical degree that they must know what they are doing. Many people have this mistaken belief and many pay a price.
One thing you should do is get to know your doctor’s background before your first visit. You can do this by clicking here. This is the Florida Department of Health’s doctor profile webpage. It gives you important background information on any licensed doctor in Florida. Information such as where the doctor graduated school, do they have any board certifications and in which specialty, have there been complaints filed against this doctor and did they have to pay out any money to claimants.
3. Know and negotiate the cost of your healthcare before your appointment or a procedure
Cash is king, especially with insurance companies cutting reimbursement rates to doctors and hospitals. So use your cash as a bargaining chip. Whenever possible, know the costs of any procedure or diagnostic test well before your appointment. Ask to speak to the office manager and/or billing. Let them know what you need [an exam, prescription refill, annual physical, blood work] and ask for the cost. Then let them know you are considering or going to be paying cash and ask for their best cash price. If you have health insurance, the cash price may be less than your deductible or co-pay. This especially applies to prescription costs. You may find it helpful to consult healthcarebluebook.com for the average compensation providers accept from insurers for various services.
4. Get it in writing
Whatever cost savings you’ve negotiated can mean nothing if you don’t get it in writing. Most offices and facilities don’t do their own billing and staff turnover can be high. Without proof of the reduction you will likely lose the savings. Be polite, but get it in writing.
Insurance companies have been haggling prices with doctors’ offices, diagnostic facilities and hospitals for decades. Now it’s your turn…good luck. And of course, if you have any questions about this article, call me at 813-877-DALE.