[av_heading heading=’How to Cut Healthcare Costs During Inflation’ tag=’h2′ style=” subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=” custom_font=” subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” id=” custom_class=” template_class=” av_uid=’av-ln855h2w’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]
[av_image src=’https://majesticmedicalbilling.com/wp-content/uploads/2023/10/997d38_3deca0c46ae84ad3a29b946a47c94a7amv2.webp’ attachment=’1705′ attachment_size=’full’ copyright=” caption=” image_size=” styling=” box_shadow=’none’ box_shadow_width=’10’ box_shadow_color=” align=’center’ font_size=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ animation=’no-animation’ animation_duration=” animation_custom_bg_color=” animation_z_index_curtain=’100′ parallax_parallax=” parallax_parallax_speed=” av-desktop-parallax_parallax=” av-desktop-parallax_parallax_speed=” av-medium-parallax_parallax=” av-medium-parallax_parallax_speed=” av-small-parallax_parallax=” av-small-parallax_parallax_speed=” av-mini-parallax_parallax=” av-mini-parallax_parallax_speed=” hover=” appearance=” css_position=” css_position_location=’,,,’ css_position_z_index=” av-desktop-css_position=” av-desktop-css_position_location=’,,,’ av-desktop-css_position_z_index=” av-medium-css_position=” av-medium-css_position_location=’,,,’ av-medium-css_position_z_index=” av-small-css_position=” av-small-css_position_location=’,,,’ av-small-css_position_z_index=” av-mini-css_position=” av-mini-css_position_location=’,,,’ av-mini-css_position_z_index=” transform_perspective=” transform_rotation=’,,,’ transform_scale=’,,’ transform_skew=’,’ transform_translate=’,,’ av-desktop-transform_perspective=” av-desktop-transform_rotation=’,,,’ av-desktop-transform_scale=’,,’ av-desktop-transform_skew=’,’ av-desktop-transform_translate=’,,’ av-medium-transform_perspective=” av-medium-transform_rotation=’,,,’ av-medium-transform_scale=’,,’ av-medium-transform_skew=’,’ av-medium-transform_translate=’,,’ av-small-transform_perspective=” av-small-transform_rotation=’,,,’ av-small-transform_scale=’,,’ av-small-transform_skew=’,’ av-small-transform_translate=’,,’ av-mini-transform_perspective=” av-mini-transform_rotation=’,,,’ av-mini-transform_scale=’,,’ av-mini-transform_skew=’,’ av-mini-transform_translate=’,,’ mask_overlay=” mask_overlay_shape=’blob’ mask_overlay_size=’contain’ mask_overlay_scale=’100%’ mask_overlay_position=’center center’ mask_overlay_repeat=’no-repeat’ mask_overlay_rotate=” mask_overlay_rad_shape=’circle’ mask_overlay_rad_position=’center center’ mask_overlay_opacity1=’0′ mask_overlay_opacity2=’1′ mask_overlay_opacity3=” link=” target=” title_attr=” alt_attr=” img_scrset=” lazy_loading=’disabled’ id=” custom_class=” template_class=” av_element_hidden_in_editor=’0′ av_uid=’av-ln855t0d’ sc_version=’1.0′ admin_preview_bg=”][/av_image]
[av_textblock textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” id=” custom_class=” template_class=” av_uid=’av-ln856nwt’ sc_version=’1.0′ admin_preview_bg=”]
It’s sad to say that here we are in the year 2023, and we are forced to deal with the extremely high cost of living hikes in the United States. Those factors alone are enough to cause enough stress to help with the decline of one’s health. And of course, despite the inflation, we all still need to take care of our health. But there’s good news! There are several alternatives and suggestions to help you slice the costs of medical care.
-
In-Network Healthcare Providers is a great way to help cut out of pocket costs.
-
Negotiate and shop around for lower cost providers: Before making a purchase, patients should shop around for lower cost providers and negotiate for lower costs.
-
Utilize insurance benefits: Insurance plans often provide certain benefits that can help to reduce out of pocket costs for patients. Patients should be sure to understand their coverage and use their benefits whenever possible.
-
Look for assistance programs: There are often programs available to help patients with lower incomes to receive assistance with medical costs.
-
Research generic medications: Generic medications often cost much less than brand name medications and can be just as effective. Patients should always ask their doctor about generic options before purchasing medications.
-
Use hospitals as a last resort for care.
-
Seek care closer to you.
-
Focus on the continuum of care.
Cut Out of Pocket Costs with an In-Network PCP and Healthcare Providers
In-network doctors offer many benefits to patients. They can provide quality care, save money, and help patients get the most out of their insurance coverage.
Quality Care: In-network doctors are typically required by insurance companies to meet certain standards of care, ensuring that the doctor you see is qualified and up-to-date on the latest medical advancements. In-network doctors also often have access to the latest treatments, medications, and technology, so patients can rest assured that they’re getting the best possible care.
Money Savings: In-network doctors are typically part of an insurance network and are able to offer discounted services for patients. This can result in lower out-of-pocket costs for the patient and can help them save money on their medical bills.
Insurance Coverage Optimization: In-network doctors are familiar with the insurance policies of their patients, making it easier for them to understand the coverage and maximize its benefits. This can help patients get more out of their insurance coverage, as they can get the treatments they need without having to worry about high out-of-pocket costs.
In-network doctors provide many benefits to patients, from quality care to money savings and insurance optimization. For those looking for a reliable and cost-effective healthcare experience, in-network doctors are a great choice.
Only use the hospital when absolutely necessary
Thirty-three cents of every healthcare dollar spent in the United States, go to hospitals. Another twenty cents go to physicians and clinics, while twenty-seven cents pay for non-Physician healthcare providers- Nurse Practitioners, Optometrists, Chiropractors, and Speech and Occupational Therapists. When hospital physicians and clinics are taken into account, it’s fair to say that hospitals control more than half of all healthcare spending.
The crazy part is that hospitals aren’t the best place to receive care in most cases. One may consider the more affordable imaging centers usually located a short distance from many hospitals or day surgery centers instead of the expensive hospital imaging devices. Many of the services at independent facilities are inherently cheaper than identical services in a hospital setting because of the lower overhead.
We know that hospitals aren’t going anywhere, but they shouldn’t be the center of the healthcare hub. It’s like walking into a physical bank branch when you have an issue that can be resolved at an ATM, on the bank website, or app. For patients who are cost-conscious, it’s best to use other healthcare options before visiting a hospital when it’s possible to do so.
Use healthcare providers in your area.
Can you recall the last time you went to the doctor’s visit? Did you spend 15 minutes or less in front of the Physician? If so, answer this- If you have a full-time job, how much time did you have to take off for that appointment?
If you were fortunate enough or planned ahead and got the first or second appointment of the day, you may have missed just a few minutes or an hour. It’s most likely, though, your appointment was after lunch. and you lost nearly half a day leaving work, driving to the office, waiting to be seen, seeing the doctor, and checking out. Then there’s more time needed to pick up a prescription or make another appointment and return to the office.
Today’s innovative technology introduced as telehealth is helping to change consumer preferences, and self-insured businesses are making more care options available. There’s no need to leave the office when you can seek medical assistance/advice from a nurse line or have a virtual physician visit on your smartphone, computer, or tablet.
Almost ninety percent of hospital executives declare that their organizations are at competitive risk from non-hospital competitors such as Optum, CVS Health, and Amazon. The number of walk-in clinics continues to grow, and more companies are setting up worksite clinics for employees. This is definitely a more cost-effective solution. However, there’s still room for brick-and-mortar healthcare, in places where it makes the most sense.
Focus on the continuum of care.
When a patient needs surgery their healthcare doesn’t begin on the day of the surgery, nor does it end on that day. The surgery is part of a continuum of care that starts maybe one month prior and lasts about the same period of time afterward. It might start with the patient at home, researching conditions and providers on a smart device.
Current technology has enabled greater patient choice, allowing them to choose lower acuity settings to receive care or even participate in telehealth. Smart device healthcare applications (apps) that can access a patient’s insurance can help ensure they visit in-network facilities.
Hospitals and health systems can leverage technology, too, to bring efficiencies to scheduling and increase patient compliance that ultimately leads to lower costs. The thirty-day, all-cause national readmission rate is thirteen point nine percent (13.9%), according to 2016 data, but the rate can vary depending on payer type, geography, and the individual hospitals. Lowering the readmission rate by just one percentage point could save billions in healthcare costs and lost productivity.
Research shows that using perioperative mobile applications can save up to three hundred dollars per procedure through a forty percent reduction in same-day cancellations and a seven percent reduction in thirty-day readmissions.
Conclusion-
Solutions to curb spending are countless, but the information to help patients make wise choices when choosing their PCP and care, and technology to increase patient adherence and reduce no-shows for surgeries and procedures should be incorporated to improve efficiency and reduce costs.
[/av_textblock]
[av_social_share title=’Share this entry’ buttons=” btn_action=” share_facebook=” share_twitter=” share_whatsapp=” share_pinterest=” share_reddit=” share_linkedin=” share_tumblr=” share_vk=” share_mail=” share_yelp=” yelp_link=’https://www.yelp.com’ share_five_100_px=” share_behance=” share_dribbble=” share_flickr=” share_instagram=” share_skype=” share_soundcloud=” share_vimeo=” share_xing=” share_youtube=” facebook_profile=” twitter_profile=” whatsapp_profile=” pinterest_profile=” reddit_profile=” linkedin_profile=” tumblr_profile=” vk_profile=” mail_profile=” yelp_profile=” five_100_px_profile=” behance_profile=” dribbble_profile=” flickr_profile=” instagram_profile=” skype_profile=” soundcloud_profile=” vimeo_profile=” xing_profile=” youtube_profile=” style=” alignment=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” alb_description=” id=” custom_class=” template_class=” av_uid=’av-2qbk5k’ sc_version=’1.0′]