Understanding Healthcare Costs: A Guide for Patients
The world of healthcare costs can often be confusing to navigate. As your hearing healthcare team, we want to help you understand these costs so that you can make better informed decisions about your hearing health care.
Healthcare prices can often be unclear, leaving many patients—especially those with hearing loss— unaware of the exact costs of care. With the increasing prevalence of high-deductible health plans, understanding these costs has become more important than ever.
Key Terms to Know:
Cost:
- To providers (like our clinic): the expense of delivering healthcare services.
- To payers (insurance companies): the amount they pay to providers.
- To patients (like you): the amount you pay out-of-pocket.
Charge or Price:
The amount our clinic asks for a hearing test or a hearing aid, shown on your bill.
Reimbursement:
Payment made by your insurance to our clinic or the patient when utilizing out of network benefits for services or products. This varies depending on your insurance plan.
Parties Involved:
- The Patient: you
- The Provider: the clinic
- The Payer: your insurance provider, and in some cases, the hearing aid manufacturer
Most patients have insurance, so you would pay the following costs up front:
- Deductible: the amount a patient pays before the insurance will contribute to helping with the costs
- Co-payment: a fixed amount of money
- Co-insurance: a percentage of the total charges
- Any non-covered services
What Can We Do Together?
It’s difficult to predict the exact cost due to the variability in insurance plans and services that you need. Our office will try to estimate patient responsibility as accurately as possible, but please note that this is only an estimate and may differ once insurance finalizes processing your claim.
We will ensure that all clinical decisions are in your health’s best interest to help you get better, and we’d be happy to discuss any financial difficulties you might have in paying for your hearing care, as well as finding more budget-friendly alternatives if needed.It’s our responsibility to minimize waste and help you avoid financial strain while ensuring you receive the best care possible.
If you have any questions or need further clarification, please don’t hesitate to ask. Your understanding and comfort with your hearing healthcare are our top priorities.
Request A Callback
If you are concerned about your hearing or a loved ones hearing, it can be a combination of daunting and overwhelming to understand what to do, who to visit and what advice to trust.
That’s why our hearing care experts are here to help.
Simply complete this form and you’ll receive a callback from a friendly member of our team to answer your questions, offer professional guidance and help demystify the process to allow you to gain the help that you need.
Remember, there’s no such thing as a silly question!
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