Dealing with major medical issues can be one of the most terrifying things that you will ever go through in your life. Unfortunately, on top of not feeling well, missing work, and keeping up with doctor’s appointment and prescriptions, many people also have to figure out how to keep on top of all the doctor’s bills.
Doctor and hospital bills can be some of the most confusing bills to keep up with. Bills are often sent from multiple specialists, and it is very common to receive ten or more bills from the same hospital visit. Furthermore, it can seem as if there is no sense to what is being charged. This isn’t just in your imagination, multiple government studies have shown that patients going in for the same procedure can be charged wildly different amounts.
With all these problems, it’s no wonder that medical bills are the leading reason for people filing for bankruptcy. If you’re having issues keeping up with your medical bills, however, it is important to realize that bankruptcy is not your only option. In fact, a lot of people have benefitted from going through the process of debt settlement with their hospital bills.
Debt settlement starts when you consult with a professional about your bills. This person will determine how much you owe and who you owe it to. After this, he or she will be able to start negotiating with the hospitals, clinics, and labs that you owe money to. The goal of these negotiations is to lower the total amount that you actually owe on these bills.
While many services will offer to negotiate hospital bills on your behalf, most of them simply work with the hospital or clinic to set up a payment plan. With debt settlement, these bills are actually reduced or eliminated.
The reason that this works is that hospitals know that there is a high likelihood that someone who is having problems paying their bills will stop making payments. This leaves the hospital with no money for their services. By agreeing to lower the bill, they have a much better chance of collecting something for their services.
Furthermore, hospitals are often open to negotiation because they negotiate the fees for a lot of their services with insurance companies. In fact, many services provided by hospitals are discounted seventy percent or more for insurance companies. Through debt settlement, a negotiator can save you thousands of dollars simply because they know the amount that other people have been charged for the same services or procedures that you received.
Because the hospital still receives money for the procedures it performed, they will still be willing to treat you in the future. This is critical if you are suffering from a condition that will require ongoing hospital visits and care. In some states, filing bankruptcy or failing to pay the hospital for their services can result in the hospital having the legal right to deny you care if the condition is not life-threatening. By going through debt settlement, the hospital will no longer show the debt as outstanding, freeing you up to continue to get treatment.
Making sense of hospital bills can be confusing, and there are a lot of more important things that you need to worry about when you’re sick. Talk to a debt settlement professional about getting your hospital bills under control.