The Scam of Healthcare - one way the consumer is getting beaten
A while back, I asked my doctor for a male hormone panel blood test. This is something everyone over the age of forty can benefit from. I learned about this from Suzanne Sommer's book, The Sexy Years Yes I read it:-) There's a section for men. Her newer book, Ageless is even better.
When the bill from Quest Diagnostics arrived, I learned that, my insurance company was only allowing $196.95 of a bill for $832.70, leaving me with a balance due of $635.75. Thinking this was excessive, I did a little investigating. I guess I'm a repressed investigative reporter:-)
The Life Extension Foundation, http://www.lef.org>www.lef.org sells, directly to the public, a similar test that is even more comprehensive, for $299.
That's $336.75 less than my Co-payment.
If you're wondering why healthcare in the United States is so outrageous, this is just one example of the public being ripped off by artificially inflated pricing.
Is there collusion between the providers - the hospitals and laboratories - and the insurance companies, designed to bilk the public?
I can't say for sure but it sure looks someone is getting ripped off. And it looks like we're the one's getting shortchanged here.
Why are we paying for healthcare coverage when the co-pay, in many instances, is the same, or more than, the "real world" cost of the service?
This is a nice scam. I charge you an inflated price for a service, knowing full well that your insurance will only cover a portion and then hit you up for the rest.
In essence, the lab was getting two and a half times the actual market value for this test.
When I can go on the open market and buy a service for less than my co-payment, something is seriously wrong.
If you want to do something about this, forward this story to your elected representatives and start becoming vocal about these issues.
If Congress actually wants to do something about the rising costs of healthcare in the US, the can start by creating a more competitive marketplace.
From now on, when I need blood work, I'm going directly to the Life Extension Foundation, bypassing the lab and the insurance company.
For the record, I have no affiliation with LEF. I just happen to think they are doing a great job of trying to watch out for our health.
www.TurnaroundMentor.com
Jim Donovan, is the author of several critically acclaimed self-help books, published in more than 20 countries and a highly sought after motivational speaker and small business coach. His newest service "Turnaround Mentor," provides coaching and mentoring for small businesses who want greater results.
If you have time, go in person to iron out your bill.
Don't just accept the bill. Copays are supposed to pay at the very least 70-80% paid by your coverage. If they have a local office, talk to them in person. If you simply pay it, you just reward them for bad behavior.
by
Alessandro Machi (13 articles, 0 quicklinks, 1 diaries, 174 comments)
on Friday, February 16, 2007 at 2:34:34 PM
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