Yes, that dime on the dollar is my experience, too. But someone has to be paying a LOT higher, or the hospitals would all go bankrupt yesterday. I have tried and tried to get the facts, but no cigar.
The ‘billed rate’ and the paid rate by medicare AND insurers with agreements are vastly different. From what I’ve seen in my own bills from hospitals the actual payoff is less than 10% of the billed amount.
Yes, that dime on the dollar is my experience, too. But someone has to be paying a LOT higher, or the hospitals would all go bankrupt yesterday. I have tried and tried to get the facts, but no cigar.
xxxxxxxxxxxxxxxxx
you think that the Rx prescription side is the bigger racket?
Hospitals jump for joy when they present a bill to a monied-patient with no real insurance because they’re stupid enough to actually pay that inflated bill. One example is birthing - a young couple having their first child and really no insurance to speak of.
My advice to ANYONE who doesn’t have insurance or their insurance won’t cover something is to do a little work and interaction with the hospital financial arm and work out a cash price paid up front deal.