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Reply to "INOVA Fairfax Hospital - Forced to Prepay"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]While they've undoubtedly been stiffed a few times, this sounds like a profit-driven policy. If the OP was forced to pre-pay $1,000 for a procedure, let's assume Inova gets that cash 60 days earlier than billing the OP's insurer and letting the EOB process play out. [b]If Inova puts that money into a simple high-yield (5%) savings account, that $1,000 with compounded interest becomes $1,102.50 after 60 days. Inova makes another $102.50 in profit off of just one patient. [/b] Now multiply that by the thousands of patients they're forcing this on, and you're talking about a new revenue stream worth millions. It's completely shady and a sign of all of the things that are wrong with for-profit health care.[/quote] [b] Your math is wrong. 5% interest on $1000 for 60 days is more like $8.[/b] [/quote] This. Take your outrage and bad math elsewhere. You want a procedure you need to pay for it. End of story. [/quote]
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