Hospital Markup Illustrates Why Atlanta Bankruptcy May be Necessary when Dealing with Medical Bills
Patient advocates are accusing hospitals of excessive markup on medical services. Statistics proving these claims can be found by comparing various local hospitals. For example, Tenet Healthcare Corp.'s North Fulton Regional Hospital jacks up their prices an estimated 702 percent over cost. South Fulton Medical Center, another Tenet facility, marks up their medical billing by more than 600 percent. These reported markups give the two hospitals the highest markups in a 10-county metro area, according to the Atlanta Journal-Constitution.
Our Atlanta bankruptcy lawyers recognize that medical bills are the leading contributor to bankruptcy filings in the United States. We also recognize that these markups are made knowing that few patients will be able to pay the full price, according to Deborah Keel, president and CEO of North Fulton Regional Hospital.
The company's Compact with the Uninsured Program states that all uninsured patients will receive a discount, patients that still cannot pay their bills will receive long-term, interest-free payment plans.
"To put a discount of 50 percent on a procedure that's been marked up 700 percent, that's still a markup of 350 percent and that's still a problem for many patients, especially when the average markup across the state is about 240 percent," said Holly Lang, an accountability director for Georgia Watch, a consumer advocacy organization.
Thousands of uninsured patients are charged the full amount either because they do not qualify for assistance or they are unaware of assistance programs and do not apply.
Dealing with the astronomical cost of medical care in the wake of a medical emergency can be extremely stressful. Many times the money is not there to pay the bills because the breadwinner has taken ill or passed away. In other cases, the bills are so absurd that hard-working middle-class families have little or no chance of satisfying the debt. In many cases, the stress of such financial obligations can even inhibit a loved one's ability to recover from surgery or illness.
Speaking with a bankruptcy attorney in Georgia can help you and your family begin to regain the financial footing your rightfully deserve. Chapter 7 bankruptcy or Chapter 13 bankruptcy protection can stop the collection calls or the other harassing activities of bill collectors. You can use the ensuing peace and quiet to make sound financial decisions with the help of your attorney.
And you can begin to restore your financial reputation and reclaim the enjoyment of life you had before financial problems and illness robbed you of the financial security that is essential to peace of mind.
If you need to speak to an Atlanta bankruptcy attorney call the DebtStoppers Bankruptcy Law Firm at 800-440-7235 today for a free debt analysis.