In recent years, it widely has been reported that more than 80 percent of medical bills are entered in error. Shocking, isn’t it? Such a significant rate of error contributes to insurance denials, duplicate and inflated charges, and confusion that represents nearly $270 billion in lost costs annually according to a 2014 Huffington Post article written by consumer advocate and former presidential candidate, Ralph Nader.
Another interesting driver behind the need to negotiate your bills is the disparity between in-network and out-of-network costs, with the ladder sometimes representing charges 1,000 percent more than what’s performed by your in-network providers. In these circumstances, providers are more willing to negotiate, fully knowing that even a reduction in the initially inflated charges may still result in additional revenues.
4 Ways to Negotiate Your Medical Bills Down