3 Steps To Become a Cash-Pay Patient and Save 50%
Discover how transitioning to cash-pay healthcare can save you money and offer more transparency, with accessible options for all incomes, including virtual primary care and medical cost-sharing.
Key Takeaways:
- American’s healthcare insurance system is flawed due to inflated costs and unexpected charges
- Cash-Pay Healthcare is Accessible and transparent for all incomes
- Empowerment through alternatives like virtual primary care and medical cost-sharing offers accessible and affordable healthcare solutions.
The Flawed System:
America’s health insurance system is fundamentally flawed driving up medical costs by a staggering 80% to 100%. As a result, there is a movement sweeping the nation for patients to convert to cash-pay medical services and completely bypass the insurance industry. While initially perceived as an option exclusively for the affluent, transitioning to cash-pay is becoming increasingly accessible to the general population, thanks to the abundance of resources available over the past decade.
STEP 1 – Take Control
Taking charge of your healthcare journey begins with becoming an informed buyer. The traditional insurance method of obtaining medical services involved often leads to unexpected charges and financial burdens.
Beginning in 2021 the Center for Medicare and Medicaid Services (CMS) began releasing requirements for transparency in medical pricing, requiring providers to disclose both insurance and cash-pay rates. Though not all providers are fully compliant , this regulatory push has brought much-needed clarity to the realm of of cash discounts for medical services.
STEP 02 – Find Cash-Pay Providers
For those seeking primary care, from family practitioners to specialists, inquiring about cash-pay rates is essential. Platforms like MDSave facilitate access to reduced-rate cash-pay pricing, akin to what GoodRx offers for prescription drugs. Similarly, for major medical procedures, Savvos Marketplace offers a vast registry of providers offering reduced-rate cash-pay options, complete with performance ratings and online appointment scheduling.
Recommended Providers:
- Primary Care – MDSave
- Major Medical Events- Savvos
Step 03 – Reap the Benefits of Being a Cash-Pay Patient
Contrary to misconceptions, the quality of medical services received from cash-pay providers mirrors that of insurance-covered care, without restrictions on in-network providers. Moreover, healthcare providers themselves are increasingly disenchanted with the complexities and administrative burdens imposed by the insurance industry. These burdens include absorbing significant administrative costs to support the claims process and adhering to operational procedures that may compromise the quality of patient care and outcomes.
The notion of becoming a cash-pay patient may raise concerns about affordability, particularly for those not financially privileged. However, the beauty of America’s free-market system lies in its provision of solutions that have been available for over 30 years but are only now gaining prominence. This shift is propelled by evolving regulations, technological advancements, and growing consumer demand for accessible and affordable healthcare options. Consequently, alternatives to traditional insurance, such as virtual primary care and medical cost-sharing, are revolutionizing the healthcare landscape.
Interested in learning more on becoming a cash-pay patient? Listen to our episode Become A Cash-Pay Patient on the Next-Gen Healthcare Podcast.
For insights on alternatives to traditional primary care medical services, refer to our blogs on Virtual Healthcare: What is it, How it Works and the Benefits for Family Care. For financial protection for major medical events, explore our blog, 5 Steps To Take To Ensure Medical Cost Sharing is Right for Your Business.
