Nobody enjoys getting sick or injured, especially when an unexpected incident turns into a hefty expense. For many people, settling medical bills is the best option because healthcare costs are often incredibly high for a seemingly small procedure or service. Luckily, there are a couple of skills often used by a certified debt settlement company that can help you lower those unforeseen expenses and pay off your outstanding balance as soon as possible.
Always Review the Bill Details
When it comes to medical debt, the key to figuring out a reasonable settlement lies within the fine print. No medical company or facility can request money from you without providing a detailed description of the services they are charging for. When you receive a bill, it is crucial to look at each service, medication, or procedure listed in the bill and its accompanying price. There are many instances when facilities accidentally charge patients for something they did not receive, record an incorrect cost, or even put the same item multiple times. After all, bills are generated on an online system and technology is not perfect.
If you ever find an item listed that is questionable, you absolutely must call the facility’s billing department and get more information. If you do not remember a procedure, scan, prescription, or even a doctor’s service that is listed on that sheet, there is a good chance it was a mistake and your total amount will decrease.
Explain Your Situation
Knowing how to effectively settle medical bills is a skill all patients should have, though we do advise you don’t try to negotiate alone. It may not always feel like, but most medical patrons truly will do their very best to help patients get the service they need for a price they can afford. If you are unable to pay your outstanding medical debt in full, try explaining your situation to the facility’s billing department. Many times, if you are willing to pay 60 to 75 percent of the amount owed in one shot, they will forgive the rest of the debt with no penalties.
It may take half a dozen conversations, but there are dozens of people out there who have managed to get a bill of tens of thousands of dollars down to only a couple thousand. At the very least, the medical facility may be able to put you on a zero-interest payment plan so you do not lose all of your money for a couple of hours in the hospital. If you’re unsure how to explain your hardship, contact our consultants at Liberty Debt Relief. They can help through the entire settlement process and even have those long, difficult conversations with your medical provider for you.
Negotiate and Make a Deal
Negotiating is probably the most difficult part of settling medical bills. To do so effectively, you have to make sure that you set yourself a range that includes what would be ideal and reasonable for the facility to agree to and what would not be as great, but manageable, for you. You can probably expect that the facility may automatically consider lowering the expense between 10 and 20 percent, which means you likely have a little wiggle room.
When negotiating, make sure to let them know that you want to be able to pay whatever you can right then and there. Every facility, whether it is a hospital or a credit card company, wants to get paid as quickly as possible. By making it known that you are struggling financially, it puts them more at risk of losing future payments, so they will likely want you to pay everything you can in one shot. It is always better for the company to accept a few thousand dollars less now than it is for them to lose out on tens of thousands of dollars later.
Seek Out Advice
Knowing how to settle medical bills is not necessarily a trait that comes naturally to everyone. Many people simply do not like confrontation, while others are just far too busy to sit down, learn everything to consider when calling their health care provider, and spend a couple of hours on the phone. In either case, it is absolutely nothing to be ashamed of and is nothing that cannot be handled.
With millions of people in debt every year, there is a high chance that one of your close friends or family members has gone through a similar situation. Depending on your relationship with them, they will probably be more than happy to give you some helpful tips or even sit down with you to help get through it. There are also dozens of certified debt relief consultants like ours out there who can answer any questions you may have about getting out of medical debt or any other kinds of debt.
Settle Your Debts So You Can Heal
You do not have to spend the next few weeks, months, or even years of your life worrying about how you will find a way to get out of debt. With a highly experienced team of certified specialists, Liberty Debt Relief can help ensure settling your medical bills is a success. Contact us today to find out how you can spend less time worrying about your medical costs and more time enjoying your friends, family, and financial freedom.
https://www.libertydebtrelief.com/wp-content/uploads/2019/02/Medical-Bills.jpg7461200libertydebthttps://www.libertydebtrelief.com/wp-content/uploads/2018/10/liberty-debt-relief-logo.pnglibertydebt2019-02-25 23:51:452019-06-18 09:20:16Settling Medical Bills and Debt for Less