A story about the lack of transparency in healthcare being defeated by a one-two knock-out punch of medical cost-share combined with hard cold cash. Firstly, it’s not just about saving money – it’s your health we are talking about here.
In fact, the Gallup-Heathway’s Well-Being Index lists financial well being as being essential to a person’s overall health. It only makes sense when you think about it. Everyone knows the mental health effects – stress, depression, and anxiety – caused by money problems.
Isn’t it ironic that health care is putting millions of Americans in debt and under stress that can make them sicker? At the end of the day, consumers don’t always know what they are paying for. Price transparency is the only cure for the healthcare problem. But, how do you get such a secretive industry to reveal the truth about the cost of healthcare?
You just make them an offer they can’t refuse. As the old saying goes – ‘money talks’. Paying cash for your care gives you the power to negotiate, or at least ask for the cash discount price. But obviously, not everyone has enough money to fork out hundreds of thousands of dollars in case of a health crisis or emergency. This is where medical cost-share saves the day.
Americans in Debt
Recent research by the American Cancer Association found that nearly 50% of Americans have some form of health-related debt they still owe. The study also showed that more than two-thirds of personal bankruptcies occur because of health-related costs.
The pricing is not transparent so there is no way to compare or shop for health care! You don’t know what you are paying for or how the pricing gets decided. To make things worse, health care providers only tell you the price after services have been rendered. So, you don’t have the option to get a second opinion or simply refuse the offer and try a different doctor or alternative treatment.
The Council Medicaid Services (CMS) passed a rule that all medical providers must publish ‘sticker prices’ of their services. These give customers a ballpark idea of what to expect. The truth is that most times involving complex care, the final costs are unpredictable. Because things come up during the course of treatment. So it’s easy to see why very few providers actually stick to these published price ranges.
A major contributor to this unfair system is the medical insurance industry. On top of the ridiculously high monthly premiums, insured people need to pay copays and deductible portions. Compounding the issue, medical bills are sent directly to the insurance company who then sends the member an EOB telling them how much they owe. The medical insurance companies don’t send an itemized bill to the patient. You get no say in the actual price of things.
Medical Cost Share to the Rescue
Very few people have the available cash to fork out when a health emergency arises. The expense can be astronomical. Joining a medical cost-share community is a life-saving solution – quite literally. Members join a supportive community focused on promoting each other’s health. You contribute monthly to a collective fund that can be called upon when a medical need arises. Medical cost-sharing is the perfect solution because members register as cash patients.
The medical cost-share model has been practiced in church communities for over three decades. Scoop Health is a medical cost-share community with no faith-based requirements. When a member has a health need:
- The member signs in as a cash patient.
- The member pays a small IUA (initial shareable amount). This is a set amount per incident that the member is responsible for paying. This amount is fixed per health need and is as low as $500.
- After the IUA, the medical cost-share community pays the rest of the member’s medical bills. This is the lion’s share of the financial burden.
At Scoop Health, we have recognized the medical cost-share method as the most transparent and simple solution to a very large health insurance problem. Our hope is to have as many people benefit as possible. A large part of the secret to fixing healthcare is a clear understanding that, in every marketplace, cash is king.
Why is Cash King?
- Health providers engage in cost-shifting. This means different people pay different prices. Many hospitals offer discounts to cash patients. These are between 1 and 2 times the rate that Medicare pays. These discounts are typically lower than the rates paid by medical insurance.
- Everyone prefers cash, especially doctors. When you pay cash, you are not limited by networks or care restrictions. You are free to visit the best quality practitioner and shop around for the best price.
- Most providers are open to negotiating cash prices with cash patients. Patients don’t always realize that they can question the prices charged, the need for additional testing, or even the need for frequent follow-up visits.
- By asking for itemized bills, you are able to verify there are no mistakes. In a busy medical setting, it is easy for confusion to happen. Consumers are often billed for incorrect services or services that were not performed.
- Certain healthcare expenses are ‘pre-tax.’ This means that they get deducted from your total taxable income if you meet a certain threshold.
The Other Benefits of Scoop Health Medical Cost Share
- You are a part of a group of like-minded individuals sharing medical expenses, not just a line item on a P&L. No one is looking to make a quick buck off of you getting sick.
- Scoop Health’s medical cost-share community has experience in negotiating with health care providers. You don’t need to fight your medical bill battles alone.
- You get 24/7 access to telemedicine to get a quick diagnosis and prescription. We know how hard it is to make an appointment with a doctor and to get time off to see one. You can have your doctor in your pocket at all times.
- You get free virtual expert second opinions as part of your membership. This is so cool because, if your doctor suggests surgery, an expert 2nd opinion is exactly what you want.
- Our monthly membership rates are way more affordable than traditional health insurance premiums. On average, our members save between 30-60%.
- There are no hidden costs or extra fees. Our pricing system is completely transparent.
- Scoop health has experience in dealing with businesses. We can provide affordable health care for you, your family, and your employees.
How Do I Join the Scoop Health Medical Cost Share Community?
Unlike insurance, you can join the Scoop Health medical cost-share community all year round. Simply fill in your details on our website and we will help you through the rest. Achieving peace of mind could not be any easier!
Your medical cost-share membership fee is a set monthly amount. You determine the amount you pay based on the IUA you select at enrollment. Since it’s a membership, you can quit any time and you will never pay more than you can afford. The monthly price factors in several criteria, such as age and whether you smoke.
Americans are no longer willing to have the wool pulled over our eyes. We deserve fair and transparent pricing. There is hope for lowering the cost of healthcare! Paying cash is the secret.
When you pay cash, you have the power to choose and the ability to shop around. Obviously, unless you have millions stashed under your mattress, it’s not feasible to think that you would be able to pay every large medical expense on your own. This is where Scoop Health’s medical cost-share community comes in. We are there with you – to help shoulder your burden.