168 - Why Medical Bills Are Becoming A National Burden
If the surgeon general can’t decipher his ER bill, what chance do we have? Well, today, we’ll learn to speak “hospitalese” together.
Dr. Jerome Adams, former Surgeon General of the United States, experienced firsthand the challenges of medical billing when he received a shockingly high bill for a simple ER visit. This incident highlighted the lack of transparency and fear patients face when it comes to healthcare costs, which recently sent Dr Adams on the warpath on Twitter. On today’s episode we’ll follow that path, and discuss why medical bills are the leading cause of bankruptcy in the US, and why 51% of patients are unclear about what they are actually paying for (spoiler: it’s written that way on purpose by the hospital).
A decade ago we used to blame patients for being uninsured, for being irresponsible, or for neglecting to build a rainy day fund. But the lack of regulation in the healthcare industry has allowed these problems to become sweeping and profitable. It’s not longer an accident when they confuse the patient, it’s on purpose. Overall, there is a dire need for transparency, regulation, and support for patients facing exorbitant medical bills. This systemic issue has become so ubiquitous, and has put so many Americans into debt, it’s led to the rise of attorneys who specialize in fighting the healthcare system. So why shouldn’t we borrow some of their tricks?
Price gouging, false billing, overcharges, hospital mergers, private equity, debt collectors, and unexpected fees…today we’ll cover it all, and we’ll give you the tools you need to read, decipher, and fight your medical bill in a step-by-step process. From preparing yourself for a lengthy battle, to getting an itemized bill, to looking up medical codes and costs, it’s easier than you think. And the hospitals definitely don’t want you to know this.
History Links:
https://fortune.com/well/2024/03/01/former-surgeon-general-jerome-adams-5000-medical-bill/
Step-By-Step Guide to Dispute Bills:
https://www.resolvemedicalbills.com/guides/medical-bill-guide
Medical Code Lookup:
https://www.cms.gov/medicare/physician-fee-schedule/search/overview
Healthcare Bluebook: