I have started to wonder, after reading The Republic's heart-breaking articles on health care this week, about medical billing.
It has been reported — and I have seen it on my own bills, also — that there is a difference between what the medical provider charges and what insurance companies pay. If a procedure costs $60,000 and the insurance company only allows $20,000 for the procedure, why did the medical provider submit a bill for $60,000, knowing the insurance company was not going to pay it?
Also, providers accept the insurance payment and often don't charge the patient the difference. This really makes me wonder, how are they accounting for this on their books? Are they creating a fake loss for the purpose of hiding real income and profits to keep their "so called" non-profit status?
Some non-profit hospitals seem to spend money on some strange things that have nothing to do with their mission. Maybe an accountant could explain this strange practice.
— Rodney L. Iverson, Mesa