How To Price Hospitals if You Need a Surgical Procedure

How To Price Hospitals if You Need a Surgical Procedure

The cost of healthcare in the United States is on the rise. One 2018 forecast report noted that costs may reach over $6 trillion by the end of this decade  These increasing costs can make it difficult to decide which medical facility to choose if you need to have a routine surgical procedure performed, such as the removal of a tumor or a problematic gallbladder. However, there are a few strategies you can use when it comes to choosing a hospital that offers both quality care and affordable pricing. 

Request Estimates 

If you have several hospitals to choose from in your area, then you may want to consider requesting a cost estimate for your procedure. Estimates can help you compare a variety of different costs, including the price of oral and intravenous pain medications used before, during and after the surgery, the cost of a room based on its privacy and how long you will need it during recovery. Itemized estimates can be especially helpful if you can obtain them. 

Look for Visible Pricing 

Some hospital cost estimates may not be useful if the facility does not offer visible pricing to its patients. Proper visibility can help you make a more viable budget for paying your hospital bill, just as extra invisible costs might throw that budget off. A hospital that uses cdm software solutions to monitor patients overpayment may offer improved transparency on its prices, especially when related to Medicaid costs. 

Factor in Insurance Payments 

Whether you have private insurance or depend on Medicaid to defray the cost of your medical expenses, factoring in copays, deductibles and other costs may give you a better idea of what you can expect to pay once the procedure is complete. You may want to contact your insurance company and discuss coverage before you schedule your surgery. 

Pricing hospital costs before a non-emergency surgery may help you keep medical costs under control and prevent your budget from spinning out of control. It may also give you peace of mind during a time when you want to make your health a top priority.