Latest / The Steve Harvey Morning Show / Dr. Virgie Bright Ellington, MD discusses how to CRUSH MEDICAL DEBT.

Transcript

Dr. Virgie Bright Ellington, MD discusses how to CRUSH MEDICAL DEBT. · The Steve Harvey Morning Show

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  Speaker 2: Again.
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  Speaker 3: then said they wanted to arm to me. It will
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  Speaker 3: be this weekend. I appreciate that, and anybody who attends,
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  Speaker 3: I appreciate it. Give your shout out, come up here
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  Speaker 3: and talk to me. Take a selfie together. My guest
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  Speaker 3: is on the phone. This is about insurance. Everybody something
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  Speaker 3: I deal with. I have employees. Uh, my wife handles that.
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  Speaker 3: I can't handle that. But I got somebody on the
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  Speaker 3: phone who's been doing this for a long time, Doctor
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  Speaker 3: Fergie Bright Ellington. If what I said her name right,
• 2:04
  Speaker 3: If not, you're will correct me. She is an internal
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  Speaker 3: medicine physician and medical billing expert. After practicing more than
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  Speaker 3: twenty years in primary care and psychiatric settings. As a
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  Speaker 3: health insurance executive, doctor Fergie now helps patients understand complex
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  Speaker 3: medical procedures, communicates effectively with their health care providers, and
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  Speaker 3: avoid financial devastation from crushing medical bills through her What
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  Speaker 3: Your Doctor Wants You to Know series. It's a podcast
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  Speaker 3: series available on all the platform. Please welcome to the
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  Speaker 3: Money Making Conversation Masterclass, Doctor Fergie Bright Ellington. Does I
• 2:39
  Speaker 3: say your name corrected? Doctor Ellington?
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  Speaker 4: Rashwan, thank you so much for having me. I just
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  Speaker 4: have to tell you get five stars gold stars for
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  Speaker 4: the day. You said it perfectly.
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  Speaker 2: Oh good, good, good good.
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  Speaker 3: You know, just just want to get the show started
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  Speaker 3: out write you know, because my name is Rashan. I
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  Speaker 3: was doing a pa zoom called guys at Russian?
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  Speaker 2: How you doing? I go, excuse me, sir A name
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  Speaker 2: for Sean. So I'm very.
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  Speaker 4: You know.
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  Speaker 3: You know the reason I've been trying to get you
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  Speaker 3: on this call for a long time because I respect
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  Speaker 3: what you do and what you do uh and is
• 3:15
  Speaker 3: impacting people on a daily basis various age groups.
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  Speaker 2: Now I have of now own.
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  Speaker 3: Medicare Okay, so life, I go in the drug store
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  Speaker 3: and my medicine's basically complimentary. Uh, and so I just
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  Speaker 3: pay a nominal fee monthly for my medical services. That's
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  Speaker 3: what's available to me. Now I feel good about myself.
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  Speaker 3: Tell us about the medical industry in general, and what
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  Speaker 3: is your purpose as to why you're so focused on
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  Speaker 3: getting it right for all of us.
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  Speaker 4: So that's something I thank you for pointing out the
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  Speaker 4: issues for Sean, and that at the very beginning you said,
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  Speaker 4: you know, we're going to talk about insurance, and actually
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  Speaker 4: we're going to talk about what if you can't afford
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  Speaker 4: insurance right and there are things you can do, and
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  Speaker 4: I don't want you to go what I call it,
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  Speaker 4: don't go pair pass, don't go without insurance. That's the
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  Speaker 4: number one thing people in their twenties and thirties can
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  Speaker 4: do to destroy their financial future. And to your point, yeah,
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  Speaker 4: you're like, now i'm Medicare age, I can I'm pretty
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  Speaker 4: much covered well. I teach people how to get Medicare
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  Speaker 4: prices so they don't get bankrupt, they don't become among
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  Speaker 4: America's number one cause of debt and bankruptcy. They don't
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  Speaker 4: become a victim of the US healthcare cost system. It
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  Speaker 4: become basically what I call it, American healthcare cost Victim.
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  Speaker 3: Rickon, Now, let me ask you this because we know
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  Speaker 3: because like I said, we are talking about it.
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  Speaker 2: It's a slice of life out there. There are people
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  Speaker 2: out there.
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  Speaker 3: Who are young, who think they're just naturally going to
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  Speaker 3: be healthy all their lives.
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  Speaker 2: They don't. They might get a cold right right there.
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  Speaker 2: I was there, I was there. You know who needs insurance?
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  Speaker 3: You know, you put off what you need because you
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  Speaker 3: don't think you need it till it happens, and then
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  Speaker 3: all of a sudden disaster strikes. Walk us through the
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  Speaker 3: steps because you know, doctor Ellington, you know we have
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  Speaker 3: the twenties, we have the thirties, We are the forties,
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  Speaker 3: fifties and sixties and up. Are there different attitudes in
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  Speaker 3: each age group that we should be aware.
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  Speaker 4: Of, Yes, sir, and you said it. The people you know,
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  Speaker 4: when we're young and beautiful and healthy and hot and
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  Speaker 4: doing it, you know, in our twenties and thirties and forties,
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  Speaker 4: right and even you know, fifty is the new thirty five, right.
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  Speaker 4: I think that we're invincible still and we're willing to
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  Speaker 4: We're like, well, I don't have any health problems. I
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  Speaker 4: exercise every day, I bike. I'm a bike as honor.
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  Speaker 4: I am just invincible, right, yeah, right, you know, the
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  Speaker 4: chances are not going to happen to me. So this
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  Speaker 4: is the thing. Life happens. And most Americans and even
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  Speaker 4: those of us with great health insurance, are just one
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  Speaker 4: accident or illness away from a lifetime of debt or worse.
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  Speaker 4: And so yeah, you know, we eventually, if you're a
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  Speaker 4: serious biker, eventually you're going to get in an accident
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  Speaker 4: where you get hit by a car that's not your fault, right,
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  Speaker 4: you know, you just you know, they don't see you
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  Speaker 4: in that kind of thing. And there you go, there
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  Speaker 4: you go, and you're you're facing debt that will ruin. Essentially,
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  Speaker 4: you're well, himp me out with.
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  Speaker 3: That doctor Allington because because you know, because I think
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  Speaker 3: I got insurance. I'm not saying me in particular, I
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  Speaker 3: got great health insurance, but wouldn't. And but you turn
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  Speaker 3: around and say, I'm not questioning you. I just want
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  Speaker 3: to explain this to my audience. But you, even with
• 6:33
  Speaker 3: great health insurance, you steal just one injury or illness
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  Speaker 3: away from a lifetime of death. Explain that even though
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  Speaker 3: you have great health.
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  Speaker 4: Insurance, and that's because there are a couple of reasons
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  Speaker 4: for that. Rashan. If you have insurance, you every year
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  Speaker 4: January one, the clock starts over. You have what's called
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  Speaker 4: the deductible, which means that you don't have insurance until
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  Speaker 4: you meet that magic number, and that's only what the
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  Speaker 4: insurance agrees to cover. They're like, hey, yeah, I know
• 7:03
  Speaker 4: that you paid thirty five hundred dollars for this procedure,
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  Speaker 4: but we don't think it's medically necessary, so that's not
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  Speaker 4: going to contribute. That does not count towards your deductible.
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  Speaker 4: So god for that. You are in a bike accident
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  Speaker 4: on December thirty first, and you boost the emergency room
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  Speaker 4: and they're like, you know what, you're going to have
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  Speaker 4: to get hip surgery, emergency surgery first, then tomorrow or
• 7:25
  Speaker 4: the next business day, which is January second, and boom
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  Speaker 4: that big expensive emergency room visit and procedures and everything.
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  Speaker 4: That is great for December until December thirty first, but
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  Speaker 4: you're uninsured as of January one with all of the
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  Speaker 4: surgeries that you're going to need. That's the issue. Wow,
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  Speaker 4: that's why both those of us, even with great health insurance.
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  Speaker 4: It just takes from one serious injury or accident or
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  Speaker 4: serious illness diagnoses away from a lifetime of debt. October
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  Speaker 4: is breast cancer Awareness months. Life happens. And even if
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  Speaker 4: you don't have a family history of certain diseases, serious diseases,
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  Speaker 4: it just takes one diagnosis and that's that your financial
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  Speaker 4: future is ruined.
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  Speaker 3: Let me ask you this because I'm trying to get
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  Speaker 3: that clock because you said something that I never thought about.
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  Speaker 3: So so, for instance, because you said rashan January first,
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  Speaker 3: it starts all over again. In other words, if you
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  Speaker 3: met all your deductibles and everything, and then your insurance
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  Speaker 3: is now covering your hospital bills, the income, January one,
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  Speaker 3: it starts all over again. So you're saying that it
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  Speaker 3: doesn't carry over. That's what you're saying. Come January one,
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  Speaker 3: you're back to square one on meeting your deductible again.
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  Speaker 4: That's right. Every January one, it starts at the clock
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  Speaker 4: starts all over. So you could have spent one hundred
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  Speaker 4: thousand dollars in a serious surgery, emergency surgery with complications
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  Speaker 4: and God forbid ICU time and that kind of thing.
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  Speaker 4: Right December thirty first, and the clock starts all over
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  Speaker 4: again January one.
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  Speaker 2: Wow. Wow.
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  Speaker 3: That I'm gonna just tell you, I just assume I'm
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  Speaker 3: just like anybody else. I'm assuming who's listening to this interview,
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  Speaker 3: is that I'm covering. I'm covered. That's why I pay
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  Speaker 3: this monthly bill once I hit my deductible, and that
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  Speaker 3: I understand you. I understand what you're saying because I've
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  Speaker 3: spent thirty days in the hospital, you know, and I'm
• 9:20
  Speaker 3: not bragging on that. I was in the hospital for
• 9:22
  Speaker 3: thirty days my lung collapsed. So I know about, you know,
• 9:26
  Speaker 3: extensive medical bills and what the hospitals cover. And also
• 9:31
  Speaker 3: I've also had a gallbladder surgery. I've had thyroid cancer surgery.
• 9:37
  Speaker 3: So your boy been in the hospital a little bit, okay,
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  Speaker 3: And so I understand the processes of bills and also
• 9:45
  Speaker 3: the need for or the proper health plans. If you
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  Speaker 3: don't and you can't afford health insurance for you or
• 9:52
  Speaker 3: your family, what do you do?
• 9:55
  Speaker 4: Thank you for asking that. That's a big deal. So
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  Speaker 4: the insurance premium are so expensive, and even with the ACA,
• 10:02
  Speaker 4: the Affordable Care after what folks call Obamacare or the
• 10:05
  Speaker 4: federal marketplace, even with the subdies that you get if
• 10:09
  Speaker 4: you meet a certain income level, it's not affordable for
• 10:14
  Speaker 4: many of us. So I talk about this issue for
• 10:17
  Speaker 4: this reason, especially in this gig economy. And thank you
• 10:20
  Speaker 4: for Rasham much you do in terms of teaching folks
• 10:22
  Speaker 4: how to be in our community, how to be self employed, essentially,
• 10:26
  Speaker 4: how to have our own businesses, because that's the path
• 10:31
  Speaker 4: to real wealth and generational wealth, not being a high
• 10:34
  Speaker 4: state employee. Right. But people can't afford to quit their
• 10:38
  Speaker 4: jobs because they can't afford to have insurance outside or
• 10:41
  Speaker 4: pay for those big monthly premiums outside of their employers,
• 10:45
  Speaker 4: or they can't afford they looked into it. They're getting
• 10:48
  Speaker 4: ready to hang out their shingle. They want to do this,
• 10:51
  Speaker 4: quit their job and work in their business full time,
• 10:54
  Speaker 4: but they're looking at pricing.
• 10:55
  Speaker 1: Well.
• 10:56
  Speaker 4: Health insurance even with the federal marketplace or Obamacare, I
• 11:00
  Speaker 4: can't afford it. So this is what you're going to do.
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  Speaker 4: First of all, remember what insurance is for insurances to
• 11:07
  Speaker 4: protect you from the risk of a cost that you
• 11:12
  Speaker 4: cannot afford. So homeowners insurance right when you have until
• 11:17
  Speaker 4: you pay off that mortgage, you're required to have homeowners
• 11:19
  Speaker 4: insurance because the God forbid the house catches fire, you
• 11:25
  Speaker 4: can't afford to replace that house or rebuild that house.
• 11:28
  Speaker 4: Car insurance. You have to have car insurance because by
• 11:32
  Speaker 4: state law, even if you have the car paid off
• 11:34
  Speaker 4: and you own the car, you still have to have
• 11:36
  Speaker 4: car insurance because what if you hurt someone in an accident.
• 11:40
  Speaker 4: An accident happens, rather you're told that you're to blame
• 11:44
  Speaker 4: for the car accident. There's the other person's health, build
• 11:48
  Speaker 4: their medical bills and that kind of thing, and that
• 11:51
  Speaker 4: is really prohibitive. Right We're talking about medical bills, so
• 11:54
  Speaker 4: that's expensive. You can't afford it to just pay. Most
• 11:57
  Speaker 4: of us can't afford to pay out of pocket. That's
• 12:00
  Speaker 4: what insurance is for. So think about in the United States,
• 12:02
  Speaker 4: we use health insurance for everything. We go in. Whenever
• 12:07
  Speaker 4: we go in for a regular checkup or if we
• 12:10
  Speaker 4: need like let's say that we've got this cost that
• 12:13
  Speaker 4: we thought loses a cold, but it's been lasting for
• 12:15
  Speaker 4: three weeks. We need to go in and get it
• 12:17
  Speaker 4: checked out before it becomes something really serious or it
• 12:19
  Speaker 4: could be something serious. Well, we go in. We put
• 12:23
  Speaker 4: every little thing on our health insurance. That's the only
• 12:27
  Speaker 4: insurance that we do in the United States where we
• 12:30
  Speaker 4: expect them to pay everything. Now, let's say that you
• 12:33
  Speaker 4: have homeowners insurance, right, you have a home have Homer's insurance.
• 12:37
  Speaker 4: And let's say you break the window like I did
• 12:39
  Speaker 4: when I was a teenager. My dad was on the
• 12:41
  Speaker 4: roof and he said, hey, Virgie, throw me the hammer,
• 12:43
  Speaker 4: and I threw it right this broadject window. Now he
• 12:48
  Speaker 4: was not happy about having to replace that window himself,
• 12:51
  Speaker 4: but he's not going to go and his homeowners insurance,
• 12:56
  Speaker 4: make a claim on that homeowner's insurance and have a
• 12:59
  Speaker 4: premium go off. You don't do it for everyone's health.
• 13:02
  Speaker 4: Insurance is the only thing that we do that for.
• 13:03
  Speaker 4: So that's my point. I just want to just give
• 13:05
  Speaker 4: that background. And that's why when you know, we buy
• 13:09
  Speaker 4: a TV or something, a big screen giant TV at
• 13:12
  Speaker 4: the big box door and they ask, well, do you
• 13:14
  Speaker 4: want protection on that or do you want insurance on that?
• 13:18
  Speaker 4: You're like, no, no, I'm not going to be happy
• 13:21
  Speaker 4: if I have to something happens and I have to
• 13:24
  Speaker 4: spend six hundred dollars, but it's not going to ruin
• 13:27
  Speaker 4: my financial future me for me and or my family.
• 13:31
  Speaker 4: So I just wanted to go over that because that's
• 13:34
  Speaker 4: why we want to think about insurance in a different way.
• 13:36
  Speaker 4: You want to still protect yourself, don't go without health insurance,
• 13:40
  Speaker 4: but think about it in a different way. So we're
• 13:42
  Speaker 4: going to do is this Number one, You're going to
• 13:43
  Speaker 4: think about something that's called DPC Direct Primary Care, which
• 13:49
  Speaker 4: is where you pay like basically, it's like a membership.
• 13:51
  Speaker 4: You pay something between like seventy to one hundred and
• 13:54
  Speaker 4: twenty five dollars a month and it's out of pocket
• 13:57
  Speaker 4: whatever you whenever you go in. Let's say you have
• 13:59
  Speaker 4: this when you're do I have a brontiitis or gosh,
• 14:03
  Speaker 4: you know, is my asthma acting up? Or you know,
• 14:05
  Speaker 4: I really need to do better with my diabetes. You
• 14:07
  Speaker 4: know what that bill is going to be every visit,
• 14:11
  Speaker 4: it's going to be a couple of hundred bucks usually,
• 14:14
  Speaker 4: but at least you know what it is and it's
• 14:16
  Speaker 4: something that is something you can plan for and schedule,
• 14:20
  Speaker 4: and that monthly premium is basically a discount and it's affordable.
• 14:25
  Speaker 4: But Rashan, what you're going to do is and this
• 14:27
  Speaker 4: is where the insurance comes in, meaning risk protecting yourself
• 14:31
  Speaker 4: in your future. That's when you're going to back that
• 14:34
  Speaker 4: up with what's called it with an employer, what's called
• 14:38
  Speaker 4: supplemental insurance. When you're buying it outside of your employer,
• 14:42
  Speaker 4: is called critical illness insurance or hospitalization insurance, or accidental
• 14:50
  Speaker 4: insurance or accident insurance. So those are small premiums that
• 14:56
  Speaker 4: you pay. And what happens is if you have to
• 14:59
  Speaker 4: make a you get paid a cash lump sum, so
• 15:04
  Speaker 4: you don't have to prove that. You don't have to say, well,
• 15:07
  Speaker 4: you know, is it medically necessary or is it experimental?
• 15:11
  Speaker 4: So no, we're not going to pay for it. They
• 15:13
  Speaker 4: pay out depending if you meet that policies. Policies, I
• 15:18
  Speaker 4: should say that plans policy.
• 15:20
  Speaker 3: Right, So doctor Lynton, I want to want I want
• 15:23
  Speaker 3: to hold that thought. I'm gonna go to break because
• 15:25
  Speaker 3: you said some amazing things about things that you ensure
• 15:29
  Speaker 3: home auto, but nothing about and you have to. If
• 15:33
  Speaker 3: you owe money on that car, you have to, if
• 15:35
  Speaker 3: you owe money on that house, But your body, the
• 15:38
  Speaker 3: human nobody says you have to ensure your body.
• 15:43
  Speaker 2: That is amazing statement you made that.
• 15:46
  Speaker 3: I want to point that out to everybody that there
• 15:48
  Speaker 3: are demands out there there that you cannot drive that
• 15:51
  Speaker 3: car off the lot unless you have insurance. You cannot
• 15:53
  Speaker 3: get the key to that home unless you have insurance.
• 15:55
  Speaker 3: But you can walk out out of your house every day,
• 15:57
  Speaker 3: get on the bus, drive a car, get on a plane,
• 16:00
  Speaker 3: and not have health insurance. And nobody is forcing you
• 16:04
  Speaker 3: to do that like they try to do when you
• 16:06
  Speaker 3: buy a home or buy a car. What your doctor
• 16:09
  Speaker 3: wants you to know. We'll be right back with more
• 16:11
  Speaker 3: Money Making Conversation master Class.
• 16:14
  Speaker 1: Now let's return to Money Making Conversations Masterclass with Rashaan McDonald.
• 16:20
  Speaker 3: Welcome back to Money Making Conversations master Class. You know
• 16:23
  Speaker 3: when you talk about insurance, a lot of people, oh,
• 16:26
  Speaker 3: you're talking about insurance on an entrepreneur show. Because if
• 16:30
  Speaker 3: you can't if you're sick, you can't go to work,
• 16:32
  Speaker 3: if you're in debt, thing gets what you might not
• 16:34
  Speaker 3: be able to pursue your dream. If you're self imployed,
• 16:37
  Speaker 3: then you need to insurance. Especially when we're dealing with
• 16:41
  Speaker 3: COVID still out there. All these illnesses are very active.
• 16:44
  Speaker 3: If you get up in age, you know, then other
• 16:47
  Speaker 3: things start happening, and high blood pressure, diabetes, all these
• 16:51
  Speaker 3: things and not saying you can't get diabetes at a
• 16:53
  Speaker 3: younger age. But as you get older, I know for
• 16:55
  Speaker 3: a fact, things start breaking down and so you have
• 16:58
  Speaker 3: to have insurance along the way. But when you when
• 17:01
  Speaker 3: you don't know, you don't know. And like I said earlier,
• 17:04
  Speaker 3: you know, I don't deal with the insurance in my company.
• 17:07
  Speaker 3: You know, my wife handles that because guess what, it's
• 17:10
  Speaker 3: very complicated process.
• 17:11
  Speaker 2: You know.
• 17:12
  Speaker 3: I've had employees who you know, because you know, we
• 17:15
  Speaker 3: don't pay one hundred percent of the of the insurance,
• 17:18
  Speaker 3: and they might go, I'm gonna drop it.
• 17:20
  Speaker 2: I can't afford that. You know. They're they'll say that, you.
• 17:23
  Speaker 3: Know, because they feel they're younger and they don't want
• 17:25
  Speaker 3: to pay the part that they need to pay that
• 17:28
  Speaker 3: stay insured. And so when I when I wanted to
• 17:31
  Speaker 3: book you on the show, and I'm glad you I
• 17:32
  Speaker 3: finally got you on a show, doctor Ellington. You know,
• 17:35
  Speaker 3: the the process that I deal with mostly with people
• 17:40
  Speaker 3: is that until they needed, they don't see the value
• 17:45
  Speaker 3: in health insurance. What can we do? Is it always
• 17:48
  Speaker 3: a financial decision of people just I wouldn't use the
• 17:51
  Speaker 3: word ignorant or just don't don't want to value the
• 17:56
  Speaker 3: importance of setting aside that money because of that rainy
• 17:59
  Speaker 3: day might happen.
• 18:00
  Speaker 2: It might happen, your thoughts.
• 18:04
  Speaker 4: It's just human nature. We don't want to think about
• 18:07
  Speaker 4: bad news. We think, oh, yes, yes, I know. The
• 18:10
  Speaker 4: only thing that's guarantean life is death and taxes. Well, no,
• 18:13
  Speaker 4: it's only death because if you're willing to sit in
• 18:16
  Speaker 4: a jail, you know, you don't have to pay taxes
• 18:18
  Speaker 4: if you don't want to, you know, but you you know,
• 18:21
  Speaker 4: we're all going to die. But we have folks that
• 18:24
  Speaker 4: have children, so folks that young ones that are dependent
• 18:27
  Speaker 4: on us. And we don't get life insurance. So if
• 18:31
  Speaker 4: we can't think about life insurance, you our eyes glaze over.
• 18:34
  Speaker 4: And we have folks dependent on us, how many of
• 18:36
  Speaker 4: us are going to think, oh, yeah, I'm not going
• 18:38
  Speaker 4: to get sick. You know, I'm just gonna I'm going
• 18:40
  Speaker 4: to live to be one hundred and five and I'm
• 18:42
  Speaker 4: just going to die in my bed. Yeah, and I'm
• 18:44
  Speaker 4: never going to get sick. So it's just human nature
• 18:47
  Speaker 4: and we just want to roll the dice. We think, Okay,
• 18:50
  Speaker 4: I'm young and healthy, I'm just going to take a chance. Well,
• 18:54
  Speaker 4: you know, the insurance companies that's they're professional gamblers. They
• 18:58
  Speaker 4: have folks that they're whole business model they hire these mathematicians,
• 19:02
  Speaker 4: these actuarians is say, you know, we'll take the risk
• 19:05
  Speaker 4: of you. We know eventually you're going to need us.
• 19:08
  Speaker 4: You're going to need that. We're going to get your
• 19:10
  Speaker 4: right premium every month, and then we'll decide if we're
• 19:13
  Speaker 4: going to give it back or now we're not. They
• 19:15
  Speaker 4: don't guarantee that they're going to cover care. They just
• 19:17
  Speaker 4: give you access to discounts. Rashan that's right care, right
• 19:23
  Speaker 4: health insurance, the medical insurance does.
• 19:25
  Speaker 3: And it's really it's really important because I have employees
• 19:28
  Speaker 3: employed in different state states and just because you have insurance,
• 19:32
  Speaker 3: it might cover Georgia, but might not just for example,
• 19:34
  Speaker 3: might not cover the state of Texas. So you have
• 19:37
  Speaker 3: to know the premium that you are, are, the insurance
• 19:41
  Speaker 3: plan that you're under, and really go through the processes
• 19:44
  Speaker 3: of understanding because the rules are changing right before our eyes.
• 19:48
  Speaker 2: Now.
• 19:48
  Speaker 3: I want to ask you this step this question here
• 19:50
  Speaker 3: because I'm trying to stick to the questions because it
• 19:52
  Speaker 3: was so important that some of these things get responded
• 19:55
  Speaker 3: to correctly. The three steps of the only right way
• 19:59
  Speaker 3: to pay metal bill and same save your financial life.
• 20:02
  Speaker 3: The three steps of the only right way to pay
• 20:05
  Speaker 3: medical bill and save your financial life help me out
• 20:09
  Speaker 3: Step one.
• 20:10
  Speaker 4: You're going to make sure you get a real bill
• 20:13
  Speaker 4: nine times eight to nine times out of ten Rashwan
• 20:15
  Speaker 4: what we get in the mail snail mail after healthcare
• 20:18
  Speaker 4: medical services is not a real bill. Why is it
• 20:21
  Speaker 4: not a real bill because it doesn't have CPT codes.
• 20:26
  Speaker 4: CPT codes are a universal language or is the universal
• 20:29
  Speaker 4: language of the US healthcare system. That's how folks get paid,
• 20:34
  Speaker 4: That's how the insurance company pay things out, and that's
• 20:36
  Speaker 4: how providers get paid. So if an insurance if an
• 20:40
  Speaker 4: insurance company is not going to pay anything from a provider,
• 20:43
  Speaker 4: any bill from a provider fancy name for bill from
• 20:47
  Speaker 4: a provider to an insurance company as a claim, if
• 20:49
  Speaker 4: they're not going to pay a claim that doesn't have
• 20:51
  Speaker 4: CPT codes on it, why should you? And why do
• 20:54
  Speaker 4: they send patients nine times out of ten, eight to
• 20:57
  Speaker 4: nine times out of ten bills that are not real
• 21:00
  Speaker 4: old bills. They'll say, yeah, it's an itemized bill, but
• 21:02
  Speaker 4: it won't have CPT anywhere on the on the document,
• 21:06
  Speaker 4: on the statement to the first why do they do that?
• 21:10
  Speaker 4: Because it works. We fall for it. We think that
• 21:12
  Speaker 4: number they give us that first bill, that first I
• 21:15
  Speaker 4: called the wishing number up er right hand corner. They're
• 21:18
  Speaker 4: wishing and hoping and praying you fall for it. That's
• 21:20
  Speaker 4: a made up number. That is what I call the
• 21:23
  Speaker 4: MRSP the manufacturer retail sticker price. No, so you're going
• 21:27
  Speaker 4: to call back ask for a real bill with CPT codes.
• 21:30
  Speaker 4: Then you're going to take that. Once you get that
• 21:33
  Speaker 4: real bill with CPT codes on it, it'll say something
• 21:37
  Speaker 4: like CPT somewhere at the top and maybe CPT slash
• 21:41
  Speaker 4: Hicks picks hcp cs is a subtype of CPT. But
• 21:44
  Speaker 4: if you're trying to remember, okay, well, how am I
• 21:46
  Speaker 4: supposed remember what kind of code? It is not service code.
• 21:49
  Speaker 4: They'll try to trick you with that CPT code and
• 21:51
  Speaker 4: I tell people, hey, how do you remember CPT? I
• 21:55
  Speaker 4: thinks can't pay this.
• 22:00
  Speaker 2: It is? That's right, OKAYPT right.
• 22:03
  Speaker 4: Take it to step two. Once you get that real
• 22:05
  Speaker 4: bill with CPT code, you're going to Google, or you
• 22:08
  Speaker 4: can use my medical billbuster app that I developed just
• 22:10
  Speaker 4: for this to make it faster for you to find it.
• 22:13
  Speaker 4: You can find it on our website crash monael dot
• 22:17
  Speaker 4: dot com. You're going to research what that description of
• 22:21
  Speaker 4: each CPT code is because maybe you're being double built
• 22:25
  Speaker 4: or you're being upcharged. You went to the emergency room
• 22:27
  Speaker 4: you had a fracture and they set it for you,
• 22:29
  Speaker 4: and I didn't set it for you, sorry. They put
• 22:31
  Speaker 4: it in a sling, and they said, you know what,
• 22:32
  Speaker 4: You're going to have to see an orthpedic doc surgeon
• 22:35
  Speaker 4: in a few days and they're going to do surgery
• 22:37
  Speaker 4: on you. And they send you home to wait, and
• 22:39
  Speaker 4: then you get a bill and it says, well, humoral
• 22:42
  Speaker 4: fracture intervention. That's a fancy name for broken arm, but intervention.
• 22:46
  Speaker 4: And they just gave you a sling. That's an example
• 22:48
  Speaker 4: of an up charge. So you're going to do that.
• 22:52
  Speaker 4: Step two Google research Medical Billbuster. However, you're going to
• 22:57
  Speaker 4: online research what each CPT code is described to make
• 23:02
  Speaker 4: sure it sounds like the relatively sounds like the care
• 23:04
  Speaker 4: that you believe you received while you're there. This is
• 23:06
  Speaker 4: the important part, Rashan. This is where the money is.
• 23:09
  Speaker 4: You talked about Medicare. You're going to while you're there,
• 23:12
  Speaker 4: googling the description, find out what Medicare pays for each
• 23:16
  Speaker 4: of those cepeople, so as you're being both for why
• 23:20
  Speaker 4: Because Medicare is the lowest, retail, most fair price that
• 23:25
  Speaker 4: any provider in the United States will agree to accept, period.
• 23:30
  Speaker 4: And you don't have to be Medicare age. You don't
• 23:32
  Speaker 4: have to People say, well, i'm that's Medicare. That's for
• 23:35
  Speaker 4: old people. They just check out where shan their eyes
• 23:37
  Speaker 4: glaze over. You know I'm not sixty five or over.
• 23:40
  Speaker 4: I'm not on Medicare. You don't have to be. You're
• 23:42
  Speaker 4: just you're automatically, without being confrontational. You're saying, hey, this
• 23:47
  Speaker 4: is the price I know that you guys accept sixty
• 23:49
  Speaker 4: percent of the time because sixty percent of people on
• 23:51
  Speaker 4: average around the United States has Medicare. I don't have
• 23:54
  Speaker 4: to have Medicare to be able to negotiate that price
• 23:56
  Speaker 4: to say that's what I'm getting ready to say or
• 23:58
  Speaker 4: to pay. Rather, that's what you're going to do in
• 24:01
  Speaker 4: step three. You're gonna call back the provider after you
• 24:03
  Speaker 4: told up what Medicare pays for the services you receive.
• 24:07
  Speaker 4: And sometimes Rashaan, it's a tenth a fraction. People think
• 24:11
  Speaker 4: I'm exaggerating, But when you see the numbers. It's true
• 24:14
  Speaker 4: a fraction of the price that you've been built. So
• 24:17
  Speaker 4: you make it a bill for thirteen hundred and you'll
• 24:19
  Speaker 4: find out toll all the services and Medica the CPT
• 24:23
  Speaker 4: pose that you've been built total all of that up,
• 24:26
  Speaker 4: what Medicare pays for. It might be three hundred and
• 24:28
  Speaker 4: eighty dollars. You're in step three. You're gonna call that
• 24:31
  Speaker 4: provider back that you called and step one to get
• 24:34
  Speaker 4: that real bill in the first place of the CPT code.
• 24:37
  Speaker 4: And you're gonna say, hey, yeah, that bill that you
• 24:40
  Speaker 4: sent me for thirty eight hundred dollars. Yeah, and my case,
• 24:45
  Speaker 4: I am willing and able to pay three hundred and
• 24:49
  Speaker 4: eighty dollars. Who can I speak with? Who can help
• 24:52
  Speaker 4: me make a payment plan? Period? Those are the three step.
• 24:55
  Speaker 2: Wow, how can we get in judge with you? Doctor?
• 24:59
  Speaker 4: You can find me at Crushmedical Debt dot com. You
• 25:02
  Speaker 4: can actually on the site. There's a page that that
• 25:04
  Speaker 4: contacts my belief my email addresses in there. If it's
• 25:07
  Speaker 4: not dr dot Virgie like short for Virginia's d I
• 25:11
  Speaker 4: R g i E. At Crushmedical Debts dot com.
• 25:15
  Speaker 3: Like the Virgie Bright Ellington I want to thank you.
• 25:17
  Speaker 3: You know the interesting thing about when we're discussing insurance
• 25:21
  Speaker 3: and you're talking about whether it's medical, you know, people
• 25:24
  Speaker 3: tend to tune out. Oh it's not so complicated itself,
• 25:27
  Speaker 3: so boring. Okay, go to the hospital and can't afford
• 25:30
  Speaker 3: to pay for it. Go to the hospital, they tell
• 25:32
  Speaker 3: you that you need insurance. I'm just telling you you,
• 25:35
  Speaker 3: as a self imployed individual, you gotta figure out a
• 25:39
  Speaker 3: way to budget some type of health plan in your life,
• 25:43
  Speaker 3: because that day will come. We live in this society.
• 25:46
  Speaker 3: They will get on the plane. I wear a mask
• 25:49
  Speaker 3: every time I fly. I'm not taking anywhere, and I
• 25:51
  Speaker 3: want to thank you and I love them. I want
• 25:53
  Speaker 3: to invite you on the show back in January. Back
• 25:55
  Speaker 3: on the show in January when everything resets, so we
• 25:59
  Speaker 3: can remind people is a new game. This is January.
• 26:03
  Speaker 3: You're starting from zero again. Can you do that for me?
• 26:06
  Speaker 3: Doctor Ellington.
• 26:08
  Speaker 4: It's a promise, Rashan, And you know what January is
• 26:11
  Speaker 4: National Financial Wellness Months, So we'll be right on time.
• 26:16
  Speaker 4: Financial wellness. That'll be perfect.
• 26:18
  Speaker 3: I'll be there, Coo one more time. Tell them, tell
• 26:20
  Speaker 3: us how we can get in touch with you as
• 26:21
  Speaker 3: I let you go.
• 26:23
  Speaker 4: Crush Medical Debt dot com and there's contact link there.
• 26:28
  Speaker 4: If not, I believe my email address is there, but
• 26:32
  Speaker 4: if not, I'll give it to you now. Dr dot
• 26:34
  Speaker 4: Virgie v I R G I E at Crush Medical
• 26:38
  Speaker 4: Debt dot com.
• 26:39
  Speaker 2: Cool.
• 26:39
  Speaker 3: Great, thank you. We'll talked soon, like in Happy New
• 26:42
  Speaker 3: Year time in January. Next time you come on the show,
• 26:45
  Speaker 3: be safe and keep spreading this great information. I appreciate you.
• 26:49
  Speaker 4: We appreciate you. Rashaan, thank you, thank you.
• 26:52
  Speaker 3: Next week, I will not have a guest. In the
• 26:55
  Speaker 3: first hour, I'll be talking about value proposition. That's a
• 26:59
  Speaker 3: magic two words that you need to know. You should
• 27:02
  Speaker 3: write it down now. You should google those two words
• 27:05
  Speaker 3: value proposition. You need to understand what yours is. We'll
• 27:09
  Speaker 3: be talking about that next week on Money Making Conversation.
• 27:12
  Speaker 3: The first half hour will only be about value proposition
• 27:16
  Speaker 3: and you understanding what yours is when we continue to
• 27:19
  Speaker 3: finish that half hour. And now we'll have a guest
• 27:21
  Speaker 3: in the second half hour. But again, my guess is
• 27:24
  Speaker 3: coming up. She's on ho You don't want to miss it,
• 27:27
  Speaker 3: don't go nowhere. Come on back to Money Making Conversation
• 27:30
  Speaker 3: Masterclass I'll be with Aerial Biggs right back. More on
• 27:34
  Speaker 3: Money Making Conversation Master Class Value Proposition next week.
• 27:39
  Speaker 4: Money Making Conversations Masterclass continues online at Moneymakingconversations dot com
• 27:44
  Speaker 4: and follow money Making Conversations Masterclass on Facebook, Twitter, and Instagram.
• 27:49
  Speaker 4: Ladies and gentlemen, it's time you stop reading other people's
• 27:52
  Speaker 4: success stories and start writing your own.