Bid yourself to affordable healthcare

The cost of healthcare is ever rising. Year on year, you spend more every time you get the same thing done, whether it’s a consultation or a surgical procedure.It matters little whether you have access to medical insurance or are a cash payer. The bottom line is you could do with some healthcare savings.There are already several initiatives that try to tame the cost of healthcare.

Health regulatory authorities sometimes give guidelines on reasonable charges for health services.

Insurance companies also play a role, mainly by capping the payable fees to health institutions and doctors for specific services.Competition among healthcare providers also helps to some extent. But if you have ever paid cash for health services, you will be well aware how costs can uncontrollably spiral upwards. In comes some novel way of containing your healthcare costs. It’s called Medical Bidding, populated by an entity called MediBid in the US. The strategy is simple, you just put down your medical care needs and avail these to appropriate health providers. They might be doctors in private practice or healthcare institutions. Each of them comes up with a costed package for your treatment, literally bidding for your custom. You then choose where to take your business.

Several factors will guide your selection for the preferred health service provider. Cost may be the most important for you, in which case you go for the lowest bidder. You may however want to balance cost and quality. You will have a chance to review the resumes for the bidders, thus enabling you to select the kind of quality that resonates with you, even when this comes at a higher cost. When doctors or hospitals openly bid to provide you with medical care, you end up calling the shots, easily settling for a solution that meets your specific needs.

There are several advantages of medical bidding, especially for self-payers. You know upfront what you will be paying, no hidden costs to surprise you. You expose yourself to many willing specialists, all looking to provide you the best of care. You get to have several choices, go to easily accessible facilities, and you end up with a competitive bill. Even small business can make savings with healthcare bills for their staff by opening themselves to medical bidding.

You may ask whether doctors would be willing players for medical bidding. Would they be undercutting each other, and reducing their profit margins? Bidding to provide a good service at a reasonable cost, especially to cash payers is good business. Practices also benefit from wide exposure to patients availing themselves for healthcare bids. It’s a win-win for all.

Try and open yourself for bidding next time you are faced with a huge medical bill. You may be surprised how much you end up saving, without compromising any aspects of your care.