“Heartless Decision: Doctor Exposes Insurance Company’s Unbelievable Stunt Against Breast Cancer Patients!”
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There appears to be a huge lack of trust between patients and health insurance companies. There’s a lot of tension
Finance expert Michael Ryan explained to Newsweek that insurance companies can sometimes employ so-called attrition strategies, which are “a calculated approach where administrative hurdles serve as profit protection mechanisms.”
Ryan states from his experience that “if even 30% of patients give up on pursuing care due to delays and denials, that translates to hundreds of millions in preserved capital for the insurer.”
Meanwhile, financial literacy instructor Alex Beene, from the Univesity of Tennessee, told Newsweek that whether or not that call was necessary, these situations are why public relations are so strained between the public and health insurance providers.
“Individuals pay a good portion of their earnings over their lives for coverage for their families and themselves, only to discover when they actually need to utilize that insurance, they are denied the ability to do so,” Beene said.
“No one expected businesses like UnitedHealthcare to completely change overnight, but there does need to be a better understanding of the policies and procedures that go into accepting or denying a claim. If all that’s known is that the claim is denied and transparency continues to be elusive, it’s going to bring more resentment to an industry that can’t afford much more.”
Meanwhile, founder and CEO of Ansel Health, Veer Gidwaney, told Newsweek that health insurance companies “often take actions such as this to manage costs.” However, Gidwaney stressed that expenses should never come at the expense of patient safety.
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