Tips for Getting the Most from Your Healthcare Dollars
Posted by J.P. Farley Corporation on Mon, Feb 13, 2012
Consumers who participate in a Health Savings Account or a Flexible Spending Account are more likely to be aware of the true cost of their own health care than consumers with traditional health insurance plans. Studies have shown that participants in consumer-directed healthcare programs are also more likely to take an active role in reducing their healthcare expenses.
Always ask about costs before you schedule any type of medical care or purchase any healthcare product
Always do some comparison shopping before scheduling healthcare services. Just because a physician or facility is listed as a preferred provider does not mean that their charges will be the same. When choosing a new physician or service provider, try to get prices from at least three similar providers before making your selection. Even if you choose to go with the more expensive provider, you’ll have made an informed decision.- Compare costs before undergoing medical procedures. In an Associated Press article on saving money on medical bills posted on Boston.com, Dr. Neel Shah, executive director of the non-profit Costs of Care, said, “You can get an MRI on one side of the street that will cost you $2,000, and the exact same MRI on the other side of the street will cost $4,000.” According to the article, Healthcare Blue Book estimates that the difference between the highest and lowest prices for a medical procedure in most U.S. cities ranges between 300% and 600%.
- If your plan utilizes a preferred provider network your plan is often designed to offer lower costs for obtaining services through a network. Provider lists can change double check to make sure the doctor or facility is still a preferred provider when you schedule your appointment.
- Request that your doctor prescribe generic drugs whenever possible and reiterate your request for generic drugs when your fill your prescriptions. Many plans also provide a cost savings for participants who obtain a 90-day medication suppy or take advantages of mail order options. It is often most cost effective to obtain your prescription drugs from your plan’s preferred pharmacy network.
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