As healthcare costs continue to rise and many people are paying higher out-of-pocket expenses, shopping for healthcare is becoming more and more important. By using the freely available web-based tools from Vimo.com, the savvy healthcare consumer can maximize the value of the healthcare dollar.
Vimo shows consumers exactly what each hospital charges for a particular surgery. The pricing information includes a list price as well as a negotiated price for each surgery. The negotiated price is the amount insurance companies pay. In some cases, the insurance company pays as little as 30 percent of the provider’s charge. The norm is about 50 to 60 percent. Vimo also provides national averages and information for individual hospitals.
For instance, I was able to determine that the list price of a balloon angioplasty of the coronary artery varied from $20,000 to over $78,000 at hospitals within 75 miles of my home!! Also the negotiated prices varied from $12,500 to $21,600.
If you are one of the 47 million uninsured people in America, you can use this information to negotiate the best price for healthcare services. If you are uninsured, hospitals will give you a discount, but you generally need to ask for it. Make the call and establish your connections before you have a problem. Developing a relationship with someone in your local hospital’s finance department could be the best move you ever make in your healthcare planning and subsequent care.
By using web-based resources such as Vimo, a savvy healthcare consumer can make informed decisions and not only get good quality in care but also good value in care.
Ruthann Russo, PhD, JD, MPH, RHIT, is a healthcare expert with more than 20 years of experience working in and advising healthcare organizations.
