Despite rolling out different healthcare plans by the government, medical expenses still claim a heavy chunk of our income. Who knows it better than a woman who has two kids? Well, my husband and I were already fighting with our out-of-pocket medical expenses, as I am asthmatic and my husband suffers from high blood pressure. And the day our first child was born, our medical bills mounted. Just imagine how we managed when our second born was brought into the mix.
While flipping through a famous health magazine one day, I realized that we were not alone in this struggle. A study was done by the American Journal of Medicine, which stated that in 2007, 62.1% of all American bankruptcies were medical-related. This shows that a lot of people have trouble with their medical expenses.
So, what does it mean? Is there no way out? Certainly, it has. Taking some actions wisely can help you in managing your out-of-pocket medical expenses. This is what my husband and I did, just to save our hard-earned money.
Choose an affordable patient financing plan: Undoubtedly, decoding a healthcare financing plan is a task. Due to complex terms and conditions, we hardly notice them and miss out on the important clauses. There are hidden charges and sometimes, many medical treatments and procedures are not covered by certain healthcare financing & lending solutions. Hence, comes the need of the hour, to choose the enhanced patient financing plan, that promises to cover all healthcare treatments with no hidden fees and clauses. Also, check out for the rate of interest they impose.
Go for in-network providers: Choose the patient financing options that work with your practice or with the hospitals (like who have contracts with hospitals and doctors). Your practice can guide you for the best option. In case you choose an out-of-network provider, chances are that you will end up paying much higher than the actual cost. The reasons can be many, from a higher rate of interest to high deductibles.
Thoroughly review your medical bills: If you have a habit of tossing your medical bills in the trash, then it’s time you consider them for review. Read thoroughly each line item before you agree to pay the billed amount. If you don’t understand your bill, ask for a breakdown. Never forget to check your bills for calculation errors.
Online research is a must: Do thorough online research. Compare different medical payment plans. Once you do the comparison, you know the best patient financing plan you can opt for your and your family’s medical expenses.
Establish a relationship with your practice: This is important for your future medical treatments and expenses. Building a relationship with the doctor can also help you in getting a better understanding of healthcare patient financing. And you get to choose the best one.
The patient financing plan that helped us
Trust me, after research and talking to our practice, we found the most feasible patient financing plan. Denefits patient financing helped us with all our medical expenses. Where all other healthcare financing companies judge you on the basis of your credit score, Denefits patient financing runs no credit check! You get instantly approved. And on top of it, you get to pay in monthly or yearly installments, as per your convenience. All our out-of-pocket medical expenses are now easily managed. Also, it gives you an option to choose the practice. If your doctor doesn’t have Denefits patient financing, you can call their customer care and get your practice on board.
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