Friday focus: Personal finance

Is that treatment really necessary?

With health care costs steadily rising and family budgets contracting, financial and health care experts recommend that consumers take control over their medical costs.

Most urge being relentless in asking questions, searching for alternatives and maintaining self-discipline.

Shop for better prescription deals, said Devon Herrick, a health care economist at the National Center for Policy Analysis, a Dallas-based conservative think tank.

“Consider therapeutic alternatives and generics,” Herrick said.

“Compare prices among local pharmacies and reputable online sites.”

Many doctors provide patients with free samples of drugs that pharmaceutical companies are promoting. And increasingly, physicians are distributing coupons for discounts on a particular medication.

Many pharmacies, including those at Wal-Mart, Kroger, Target and Walgreen stores, offer generic drugs for $4 a month or $10 for a 90-day supply.

For those with company-provided health insurance, enrolling in a flexible spending account also can offer savings.

Here are other strategies to reduce medical expenses:

Cut office visits. Try actively managing chronic illnesses, such as asthma, diabetes and obesity.

Participate in free health fairs or visit walk-in clinics, which cost less than half of a doctor’s office visit.

Call at least two labs to get test prices in advance. You’ll save significantly by shopping for diagnostic procedures, paying upfront and filling insurance forms out yourself.

Shop for better prescription deals. Compare prices among local pharmacies and reputable online sites.

If you’re uninsured, you should:

Ask about cash rates and discounts before receiving care. Negotiate the deposit amount to no more than 10 percent of your monthly income.

Ask the hospital billing office to discount your bill to the rate charged to a typical insured patient.

Ask for a written copy of the hospital’s financial assistance guidelines.

Dallas Morning News