Quote:
Originally Posted by bob47
I know this is true and it doesn't seem right, does it? The value of the service or product should be the same whether an insurance company pays or an individual pays.
Same with medical bills. If a hospital bills you $30,000 for services and then accepts $9,000 from Medicare, what really is the value of that service? And what happened to the missing $21,000?
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LOL. My last Quest lab bill was for $580, but the insurance only allowed them to receive $45. What happened to the missing $535? It never existed. That is the way it has been done for as long as I can remember. It's why patients should be required to pay part of every medical procedure, so they have skin in the game. Competition would reveal the true value of medical care.