Using an Ambulatory Surgery Center (ASC) like the Mississippi Valley Surgery Center is one way you can save money on medical expenses – especially when it comes to surgical procedures that can be handled on an out-patient basis. In fact, the MedPAC March 2004 Report to Congress on Medicare Payment Policy showed that patients typically pay less coinsurance for procedures performed in an ASC than for comparable procedures in a hospital setting.
Surgery centers save patients money
Facilities like the Mississippi Valley Surgery Center offer patients undergoing cataract surgery or colonoscopy (two common examples) a surprisingly less expensive alternative to having the same procedures in a hospital outpatient department.
According to the MedPAC report, for example, a Medicare beneficiary could pay as much as $496 in coinsurance for a cataract extraction procedure performed in a hospital outpatient department (HOPD), whereas the same beneficiary’s copayment in the ASC would be only $195. A Medicare beneficiary could pay as much as $186 in coinsurance for a colonoscopy performed in a HOPD, while that same beneficiary’s copayment for the same procedure performed in an ASC would be only $89. By having surgery in the ASC, the patient may save as much as 61% or more than $300, compared to their out-of-pocket coinsurance for the same procedure in a hospital.
Not only are surgery centers dramatically less expensive than hospital outpatient departments, they offer patients improved techniques and technology, lower risk of infection, lower risk of medical errors, and quicker returns to home, activity, and quality of life, according to Kathy Bryant, President of the Ambulatory Surgery Center Association.
“The benefits of ambulatory surgery centers are more important, to more people, than ever before,” explains Dr. Dooley. “We offer real solutions to the problems that plague the health care delivery system: waste, excessive cost, medical errors and a general lack of responsiveness. The MVSC offers cutting-edge procedures with superior outcomes; it uses financial and human capital efficiently; it increases productivity; it is more accessible and responsive to patients; and it presents less risk of medical error and infection. All of that is combined to offer dramatically reduced costs to patients.”
5 Ways to Save on Healthcare Expenses
- Know your deductible and coverage limits. Medicare patients without any supplemental insurance must pay 20% of the total bill out of pocket.
- Shop around. Doctors, procedures and facilities don’t all cost the same.
- Ask if the procedure must be done at the hospital. The Mississippi Valley Surgery Center offers many procedures at a lower cost than hospitals.
- Budget before the procedure. Plan ahead for extra costs and bills you may not expect.
- Raise the red flag! Call your insurer if you don’t understand the bill.
