Every year the amount of money spent on healthcare is rising alarmingly. This includes the cost incurred in doctor’s visit, medicine, medical tests, and hospitalization. The rising health care cost has been a cause of agony for many people. The majority of our population suffers from many lifestyle diseases like diabetes, hypertension, which require medication throughout the life of an individual. Now, a large portion of the family income is spent on healthcare. Though this is worrisome, there are a few strategies which can help you save on healthcare facilities.
Study All the Options while Buying an Insurance Policy
Before you plan to buy a healthcare policy do a bit of research. Study all the available options before deciding on the right one for you. There are a number of policies which offer a comprehensive plan for accidental cover and critical illness cover. It is better to buy them as they take care of most of your medical costs. Compare the cost of the premium of many well-known policies before selecting one. You should go for those policies which offer cashless treatment facilities rather than those offering reimbursement of medical bills.
Take Advantage of Telemedicine
Telemedicine is a form of treatment using the electronic media. Here the medical information is exchanged between the doctor and the patient with the help of telecommunication technology. The advent of telemedicine allows the health care professional to treat a patient from a distance. You would be able to save money and time if you take the advantage of telemedicine. With the video chat facility, most of your common ailment can be cured by telemedicine.
Switch to generic drugs
When you need to visit the doctor for any ailment, ask him to prescribe the generic drugs. The generic drugs cost up to 70 to 80% less than the branded drugs but can have the same benefits. The generic drugs are pharmaceutical drugs and are not associated with any particular company. They are regulated by the government and thus cost much less than the branded drugs.
Order for a 90-day supply of drugs
Many people suffer from some diseases like diabetes, hypertension, cholesterol, hyperthyroidism, which requires long-term medication. In that case, you can order a 90-day supply of drugs. It is seen in most of the cases a 90-day supply of drugs costs around 2.5 times more than the 30-day supply.
Ask for low-cost alternative drugs
If the drug prescribed by your doctor doesn’t have a generic equivalent then ask your doctor or the pharmacist to suggest a low-cost alternative drug for you. Sometimes if you buy the drugs from a preferred pharmacy they offer you discounts of around 10-15%.
No-claim bonus of health insurance policies
Most of the health insurance policies offer a no-claim bonus at the time of renewal. This can be attained if you do not register or avail any claim during the policy period. Some of the companies increase the sum assured in the next policy while others offer a rebate on the renewal premium. In both the cases, you can achieve monetary benefits under this scheme.
Ask for cash discount in hospital
Many hospitals and doctors offer steep cash discounts to their patients if they make cash payments at the time of final settlement of bill regardless of their annual income.
Network hospitals
If you suffer from any critical illness or meet with an accident, it is better to avail medical facilities from the network hospitals of your insurance provider. These hospitals provide you cashless facilities. You need not pay any amount at the time of your discharge. The insurance company directly pays the hospital
Thus, in the end, we can say that the healthcare cost has risen alarmingly in the last few years. Still, there is some scope to save on the medical bills.
