It's common knowledge that those who have more money tend to have more spending without question. insurance companies are no different; they are people with big bags. medical providers know this as well. Over the last 50-60 years, providers increase their prices to see what they can get away with, at the same time insurance companies were negotiating for a bigger discount.
This is how health is becoming a big business. The cost fronted insurance company, and now we have to cover the cost of higher premiums today.
Bulk billing doctor provides the payment option under the Medicare system of universal health insurance where the doctor bills Medicare directly for a medical or allied health service that you receive.
This robbery if you ask me. Take typical generic drugs at a local pharmacy. One can cost about twenty dollars to insurance companies, but the price you if you pay cash price could be ten dollars. Why? This is because they can.
The reverse is also true. If you ask the price in cash, it could be double what the insurance company to negotiate the price. Many providers will charge patients billed amount versus the amount of the discount. It's kind of like since you asked I'll charge you more.
This insurance is designed for exposure to sudden considering that most of us can not afford it. If you see the words again: a sudden and costly. It does not describe a predictable and affordable. Over the years though, we have someone with a big bag to pay the bills. Most of us have very little to pay out-of-pocket for any medical expense of our own. At least until now.
With many policyholders have the high Deductible Health Plan or Health Savings Account plan, many providers realize the patient is responsible for the initial cost. This can be both good and bad depending on the view.
First, there is a negative outlook. Many were expecting a first-dollar coverage to be paid by the insurance company. Each doctor visits, lab tests or prescription drugs out of your pocket first and applied toward your deductible. Some may not like this idea.