Pesky medical bill? Most people don't take a key step to manage that debt, study finds

Published On Sep 20, 2024, 9:53 AM

A recent study by the University of Southern California found that many people who dispute their medical bills can achieve significant savings. About 26% of individuals who questioned their bills received corrections, while others obtained reductions or even cancelations. Despite a belief that disputing bills is ineffective, those who engage in self-advocacy often fare better financially. The report highlights common billing errors and emphasizes the importance of contacting providers for clarification to avoid consequences like debt collection and lowered credit scores.

Stock Forecasts

The healthcare sector could see a rise in companies providing medical billing dispute services or platforms that facilitate consumer communication with healthcare providers. Additionally, patient advocacy groups may see increased attention and funding due to rising awareness of medical billing issues.

Related News

Most people who don't question potential errors on medical bills think doing so won't get results. Evidence suggests otherwise.

Many Americans who need therapy are discouraged by the cost. But there are options to make it more affordable.

HCA
MDLV