How to curb runaway medical costs

Here’s an article that details some of the factors behind the ever increasing costs of healthcare in the US.

Ken Alltucker

A good doctor can help guide us to a healthy lifestyle. A hip or knee replacement can ensure mobility and relief from pain. A well-run hospital can be the difference between life and death.

But physicians, medical devices and drugs cost a lot. Americans will spend $2.4 trillion on health care this year.

Hospital and doctor bills, especially for the uninsured or those without enough coverage, already can be devastating.

Without a health-care overhaul, the price tag is projected to grow, particularly as Baby Boomers swell Medicare enrollment.

Beware errors in your bill

One way for consumers to take charge of their own medical costs is by scrutinizing doctor and hospital bills, patient-advocacy groups say.

Medical Billing Advocates of America, a Virginia-based consultant, estimates that 80 percent of hospital and medical bills it reviews have some type of error. And those errors can be costly, inflating bills 17 to 49 percent more than they should be, according to Chief Operating Officer Christie Hudson.

Medical Billing Advocates has found a wide swing in pricing among hospitals and doctors nationwide.

For example, one hospital charged $15 per dose of Tylenol or $10 for use of a disposable cup. The hospital charged a patient twice for items such as gloves, swab alcohol, a warming blanket and a daily charge for an IV pump.

To monitor their costs, Hudson said customers should request a line-item bill from a doctor or hospital. She said coding errors are common. So is double billing – for example, charging for a hospital gown when it should already be covered in a hospital’s room fee.

Also, she said patients should make sure a doctor gets prior authorization from an insurance company before conducting a procedure. (more…)

Read More