Reply to INOVA Fairfax Hospital

Forum Index » Health and Medicine

Reply to "INOVA Fairfax Hospital - Forced to Prepay"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]With over $2.7 billion in annual revenue, Inova is not using a high-yield savings account.... they are investing their money into higher yield portfolios to help pay for that new $182 million campus they bought from ExxonMobil a few years ago.  They have an entire department dedicated to making financial investments.

Supposing Inova made just half of its 2+ million annual patients pay in advance, even a few bucks in profit per patient adds up quick.  If there wasn't a clear cut business case for doing this, they wouldn't be paying for an entire "estimating department" to support the operation with their accounting magic.

The existing system is complicated, but that's reflective of the industry.  The payment terms of how long the insurer has to pay the bill submitted by Inova are negotiated between the two entities.  If Inova's not happy with whatever payment terms they negotiated, they shouldn't be taking it out on the little guy.  Sorry no sympathy for them.

The 20 cents on the dollar line is also misleading.  The list price of their medical services is grossly exaggerated and the actual price is always negotiated with the insurer at a fraction of the list price.  They are getting the majority of that negotiated amount from the insurer, and billing the patient for the remaining fraction.  If they don't get that remainder from a deadbeat patient, then they sell the debt to a collection agency for 20 cents on the dollar.  The number of non-paying uninsured patients which Inova gets zero money from is a small percentage of their overall patients.

I'm surprised at how many people here seem to be supporting Inova.  Let's see if their posts seem to stop after the end of the work day.[/quote]
I was with you until you assumed someone who can’t pay a medical bill is a deadbeat. Medical expenses are the number 1 reason for bankruptcy.  And it’s the not very poor (at least at Inova) getting screwed bc the very poor (no matter legal status) can have their bills written off. But the MC who “makes too much money” but can’t shell out thousands and thousands for a bill? Sucks to be them. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics