There are many reasons why people find themselves in a financial slide and one of these is medical debt. At Rothschild & Ausbrooks PLLC, we know that medical debt can accumulate quickly. An unexpected or even planned for medical procedure, can catch people unawares and leave them facing multiple bills for a variety of treatments and services.
In fact, medical debt overpowered other sources of debt at 38 percent in 2013, according to The Atlantic. Part of the problem is that costs for the same procedure will vary, depending on the state and the hospital. For example, in one state, people might pay $5,400 for medical care to treat severe intestinal bleeding but pay over $291,000 in another state. This can leave people overwhelmed by the enormous costs and with no option but to seek debt relief.
Medical procedures often involve more than one medical professional and not all of these people may be on a person’s preferred providers list. This means that the medical insurance may pay less or none of the bills from those who are not listed under the plan. Often, people who know they need an operation may set aside money to pay their co-payment and the amount that the insurance won’t cover. However, they often are unaware of other costs associated with the procedure.
These costs can include payment for a surgical center where the operation is performed, the need for an anesthesiologist, a medical expert who is brought in just before the procedure, or for extended costs due to any complications that arise. Additionally, hospitals can make mistakes in their billing processes that are never identified, leaving people with a balance that is not completely accurate.
