In the U.S., nearly 60 percent of bankruptcies are caused, in part, by medical bills. Finding ways to lower those bills has never been more important. A new program in Texas may be the solution. Mireya Villarreal reports.
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Awesome ? way to go Texas.
Excellent program. Texas didn't just pay the bill, but it forced the insurer to work with the hospital for the patient's behalf. Something that is typically ignored by both the insurer and the hospital and contracted partnerships + labs.
Often the insurer negotiates their portion of a large bill (say 60% of $10,000 being 6k down to a fifth of that because they know what the hospital will actually take. So the insurer pays $1200, but the patient is still to pay 40% which was originally inflated-billed at $4000. So the patient would actually hand over more cash than their insurer. The patient should really owe a fifth or $800. However the patient has no clout to negotiate, and the insurer doesn't care beyond their portion.
TDI stepped in and forced negotiation. If insurers would do this or medical providers would submit actual billing prices from the start, that wouldn't be needed.
Good job and good story. This is how it works behind OZ's curtain in the Emerald City.