If you are involved in the management of Workers' Compensation or 3rd Party BI claims it is important to understand what drives the cost of these claims. The medical portion (charges) is something that Carom finds is not regarded with enough scrutiny. So, we offer you the following information that we hope will cause you to question every line of every bill from every hospital.
A midwest health insurance provider recently sent me a letter explaining why certain charges from our local hospital were not covered for blood work done for my Wife. The letter went on to say that the insurance company analyzes charges from all hospitals and sees the markups that are billed. They wanted to let me know that "Based on the most recent public data, ______ Hospital marks up their prices, on average, by 330% times cost."
Enough said.
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