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I recall encountering the claim that hospitals will mark up the initial bill because they are used to dealing with insurance companies, and said companies will
by digi_owl 9y ago
I recall encountering the claim that hospitals will mark up the initial bill because they are used to dealing with insurance companies, and said companies will turn over very stone possible to drive the price down. Thus the markup is done to ensure the hospital get their expenses covered after the insurance companies are done with them.
- conanbatt 9y agoEven if that is true, a company will be successful in the degree they can do this more than the other companies in the same space. I don't think laws like this effectively lower the cost, because first of all, a good chunk goes to lawyers and patient advocates. Also as the system gets itself more expensive, the mechanics that make it more expensive can also become more worthwhile! Its a spiraling costs issue. Man healthcare in the U.S. is so broken.
- jjeaff 9y agoThe insurance companies don't do anything that isn't automated and easy. Everything billed is coded and the insurance company already has a set price for that code. If the medical providers don't agree, they can either try to appeal and get an exception or most likely adjust the billing codes until something more reasonable goes through, or they can refuse to accept that insurance plan in their office.