Think of this new startup as an accountant for your medical bills. If you think you don’t need one then think again as their are many reasons you need someone to look them over.
Here are a few reasons you need an outsider to look over your medical bills:
- A majority of doctors don’t explain the cost of recommended procedures.
- One-third of Americans with medical billing issues are forced to skip their medicine or cut pills in half.
- 65% of Americans with trouble paying medical bills skip the dentist
- Medical billing issues are much more common in southern states.
- 7 of 10 Americans with medical bill problems must cut back spending on food, clothing, or basic household items
- 20% of all credit reports are marred by unpaid medical debt.
This new startup to save you on your medical bills is called Remedy. They claim they can save the average family $1,000 per year in medical bills through their company’s technology and peer review. Basically, they audit your complex medical charges, during which process they often find mistakes that can lead to savings of up to 70%.
How it works: You connect your insurance account to Remedy. From there, the company’s team reviews all medical charges and searches for errors (they claim $120 billion of our annual $3 trillion in health-related spending is overcharging or billing errors, giving them a lot to work with).
They’ll negotiate with your insurance company, and they only charge a 20% service fee on your savings, up to $99. If the bill is correct, you’ll pay nothing. You have nothing to lose using this service and can save hundreds if it works and possibly avoid medical debt and bankruptcy.