How to Save Money on Your Healthcare: Review & Verify Medical Bills

This is Tip #4 in our 8 part series. In the first three parts, we reviewed How to Understand Your Insurance, How to Choose In-network Providers, and Understanding Pre-authorizations and Referrals. Today, we’re talking about how to review & verifiy our medical bills. Taking the time to review and verify your medical bills is an important step in managing your healthcare costs and avoiding unnecessary expenses. By being diligent in this process, you can spot potential billing errors and ensure that you are only paying for the services you received. Let’s explore the key aspects of reviewing and verifying medical bills:

The significance of reviewing medical bills

Reviewing your medical bills is crucial for several reasons. First and foremost, it allows you to confirm the accuracy of the charges and ensure that you are being billed appropriately for the services rendered. Additionally, reviewing your bills helps you identify any potential errors or discrepancies that could result in inflated costs.

Spotting potential billing errors

The first step in reviewing & verifying medical bills is to keep an eye out for common billing errors that could impact your expenses:

1. Duplicate charges – Look for any instances where the same service or procedure is listed multiple times. Duplicate charges can significantly inflate your bill and should be corrected.
2. Unbundled services – Some medical procedures consist of multiple components that are billed separately. Ensure that all the necessary components are bundled together, as unbundling can lead to higher costs. If you are not certain of what services should and should not be bundled together, consider asking the medical billing office or seeking the assistance of a professional patient advocte who specialized in medical biling
3. Incorrect billing codes – Billing codes play a crucial role in determining the charges for services rendered. Check that the billing codes align with the actual procedures or treatments you received. Incorrect coding can result in overbilling or underbilling. You can use sites like Healthcare Bluebook, Turquoise Health, or Try Billy to review the fair market prices for codes in your area.

Seeking itemized bills when necessary

After reviewing the bill, it might be necessary to obtain additional information. This is where requesting itemized bills can provide a detailed breakdown of the services rendered and associated charges. Itemized bills allow for a more thorough review, enabling you to identify any discrepancies or unnecessary charges. If you receive a summary bill that lacks detailed information, don’t hesitate to request an itemized bill from the healthcare provider.

Engaging with the billing department or insurance company

If you identify potential errors or have concerns about your medical bills, engage with the billing department or contact your insurance company for clarification. Discuss any discrepancies you have identified and provide supporting documentation if necessary. Often, the billing department or insurance company can work with you to resolve any billing errors or provide explanations for charges that may seem unclear.

Taking an active role in reviewing and verifying your medical bills empowers you to protect your financial interests and ensure accurate billing. By spotting potential errors, seeking itemized bills when necessary, and engaging with the billing department or insurance company, you can proactively manage your healthcare costs and avoid unnecessary expenses.

If you have any questions about your medical bills or insurance benefits, feel free to schedule a no-obligation, no cost STRATEGY CALL with me today. I’m here to help you!