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Medical bill format pdf for Finance

[Music] hi everyone welcome to state of the market i'm mark lichtenfeld chief income strategist of the oxford club you know they say a penny saved is a penny earned and today i'm going to show you how to save perhaps hundreds of thousands of pennies in healthcare and that's thousands of dollars for those of you not doing the math at home now before i get to that go ahead and click that subscribe button down below and never miss a wealth building state of the market video again now back to slashing those healthcare bills for aches coughs and fertility you're going to want to take a half an onion and rub it on your armpit counterclockwise wait i'm just kidding the video is about practical money-saving healthcare tips i'll save the home remedies for my other channel [Music] now if you know me even a little bit you know that i'm a pretty cool customer i let a lot of things slide off my back but as my wife will tell you on the rare occasion that something manages to get under my skin i am like a dog with a bone if i've been wronged in some way perhaps overcharged i will fight like hell to right that wrong and it doesn't matter to me if it's for thousands of dollars or twenty dollars they don't get to keep my money health care bills in particular are purpose built from the ground up to be impossible to understand i have no idea what a brain transplant is supposed to cost and i'm guessing neither do you and as anyone who has ever been to a mechanic will tell you it's easy to overpay when you have no idea how much things should cost years ago after spending all night in the er my son was admitted to the hospital and i was woken up by the phone ringing in his room at seven a.m that morning it was the billing department demanding that they be paid 500 for admitting my son mere hours ago now somehow with less than three hours of sleep under my belt i had the presence of mind to tell them that my insurance would cover it the hard-boiled bureaucrat on the other end of the line replied well we haven't run your insurance yet so you're going to have to pay the 500 i told sonic the debt collector that i'd never skipped out on a bill in my life and whatever my insurance doesn't cover i'd pay once it's gone through the proper channels undeterred dog the hospital bill hunter insisted that i pay 500 right now as if the very concept of health insurance was foreign to her i asked her point blank if they were going to kick my 10 year old son scheduled for surgery in a few hours out of the hospital if i didn't pay she hesitated i told her to bill my insurance company and i hung up and wouldn't you know it when all was said and done it turned out that i didn't owe anybody 500 somebody was just trying to squeeze some extra cash out of a tired dad now you'd be surprised how much money you can save just by asking recently some friends of mine did that thing where two people bang into each other and make another person and when they got the bill for the personectomy it looked like they'd be overcharged by thousands of dollars even though the hospital was on their insurance the anesthesiologist who was on call that night wasn't and this is a super common thing hospitals are full of people walking around who just don't accept your insurance and if they mr magoo into your room suddenly you owe them thousands of dollars you start on his hair and i'll open up one of his veins yes my friend called the doctor's office immediately told him that they hadn't requested this specific random guy who wasn't on their insurance and they knocked 1500 off their bill easy peasy lemon squeezy now i'm not gonna lie this subject gets me more riled up than a griswold on vacation but it's particularly top of mind right now because i'm embroiled in a knock down drag out brawl with a well-known research hospital i went for some tests everything was fine but the bill was absolutely insane now once you've been around the block a few times you start to recognize the names of all these scopies and ectomies and i've had the exact same test before and it was a fraction of the price i called up johnny billing department and told him that something wasn't right that this bill seemed way too high and i tell you it was like trying to negotiate with the mob business bad you pay me oh you had a fire you pay me place got hit by lightning huh you pay me i've been going back and forth with these gangsters for weeks you pay me finally i called my insurance company to ask them if it seemed right and the rep said well operations can be expensive so well i guess that was that operations are expensive what are you going to do about it well listen there's one other thing i wanted to ask you about that's right i didn't have an operation those clowns had coded a simple test as surgery i let the hospital know that they incorrectly coded the bill and now we play the waiting game [Music] [Applause] [Music] [Applause] [Music] well actually it's probably going to take a while so how about we just keep going and i'll update you in a future video the moral of the story is that hospital billing departments have no morals and if you think your bill is too high ask for a reduction and make sure it is billed correctly billing codes are complex humans make mistakes and hospitals are a black hole for savings accounts i have one more quick and dirty tip for saving money on health care before i get to it be sure to check out my free e-letter wealthy retirement at the link below it is full of wealth building and wealth saving ideas so give it a read now my last tip is to check out good rx to save money on prescriptions anyone who takes regular meds in the us knows what a money hole prescriptions can be but most people don't know that you can save boatloads of money just by going down the street to a different pharmacy goodrx is a free service just type in your zip code in the name of your medication and it'll spit out the location of where the drug is the cheapest often with a free coupon that slashes costs even further for example in south florida a prescription for the antidepressant cymbalta may cost you as much as 50 at walgreens but if you drive down to costco with a good rx coupon you can nab those good brain pills for just 7.69 a good rx isn't just finding the cheapest pharmacy though it's sorting through every pharmacy and pinpointing the one where your specific medication is the cheapest if you bought ciprodex a drug used to treat ear infections at that same costco it would cost you 142. drive back across town to the first walgreens though and now you're paying just 80 with a coupon that's nearly half the price we all know that it pays to shop around but these days there's usually an app or website or digital mcguffin that will do the shopping around part for you and goodrx is one of the better ones out there healthcare can be outrageously expensive especially when they bill you for surgery you never had nurse call the coroner don't touch that dial mary tyler mort look over your bills carefully fight back when appropriate and take advantage of available tools that will help you save money for more wealth building ideas be sure to check out my free e-letter wealthy retirement just click on that link below i'm mark lichtenfeld thanks for watching state of the market