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February
14, 2006
Vol. 2, Issue 2
How
to Save Money on Lab Work
One
smart strategy to manage the funds in your Health
Savings Account is to order your own diagnostic lab
work. By ordering your own lab tests directly
from the lab, you can dramatically lower your costs,
keep your medical records private, and proactively
manage your own health care.
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Manage
Your Health
We all
have responsibility for our own health. We cannot count
on our doctors, our insurance companies, or our government
to keep us well. The more people understand that, the
better off we all are.
I believe
it's best to be pro-active when it comes to one's health.
By regularly monitoring cholesterol and other risk factors
and tracking changes over time, you may be able to take action
before more serious problems arise. You can also order
tests that are not yet considered "standard" tests,
such as C-reactive protein or homocysteine concentrations,
both thought to be indicators of risk for cardiovascular disease.
The growth
of the consumer-driven healthcare movement has now enabled
the consumer to order lab tests directly, bypassing any middleman.
There are several lab testing companies that market directly
to the public. They likely use the exact same local
labs that your doctor would use, but the costs are almost
always lower, and often by a good bit. In most cases
you can go to the lab without an appointment, have your blood
drawn, and be out in no time.
My
Experience
I recently
ordered a Comprehensive Metabolic Panel (CMP), which
is a standard group of tests that provide information about
the current status of your kidney and liver function, infection
and nutrition, risk of diabetes and risk of heart disease.
It includes measurements of total cholesterol, LDL, HDL, triglycerides,
liver enzymes, blood glucose, and many other factors.
By the
way, a good estimate of insulin sensitivity can be derived
from the triglyceride/HDL ratio. The less insulin sensitive
you are, the greater your risk for cardiovascular disease,
many cancers (including breast and prostate cancer), and even
Alzheimer's disease. Ideally you want your ratio to
be below 1, but you're doing pretty well if it's below 2.
If it's more than that, cutting out the sugars and grains,
doing more intense exercise, and taking fish oil will produce
dramatic improvement. (I'm happy to say that my HDL
is now up to 71, my triglycerides measured at 48, giving me
a ratio of .67.)
You can
order the tests online, go have your blood drawn without making
an appointment, and get your results online within 48 hours.
This test, which may have cost over $250 if done at a hospital
or doctor's office, cost me only $45.
VAP
Cholesterol Test
Half of
all heart attacks occur in people with "normal"
cholesterol. A test I plan on having done later this
year is a VAP™ cholesterol test. This is a much
more comprehensive cholesterol analysis than you're likely
to get from your doctor. In addition to providing measurement
of total cholesterol, LDL, HDL, VLDL, and triglycerides, this
test also includes an assessment of LDL particle size.
More recent research indicates that it is not just LDL cholesterol
that is the "bad" cholesterol, but specifically
small dense LDL cholesterol that causes cardiovascular disease.
MyMedLab offers this test for $95.
Omega-3
Essential Fatty Acid Profile
Another
interesting test you could have done is called an Omega-3
Essential Fatty Acid Profile. In last month's issue
of Maximize Your HSA, I discussed the importance of omega-3
fatty acids.
There
are several large studies that clearly show a correlation
between low omega-3 intake and cardiovascular disease.
Omega-3 concentrations are even an independent predictor of
increased risk for sudden cardiac death. Clinical work
has shown that reaching certain levels greatly reduces the
risk of developing heart disease by 32%, reduces death from
a heart attack by 70% and manages silent inflammation, a precursor
for many illnesses and diseases.
Your omega-3
intake can be quantified by measuring the concentration and
type of omega-3 in your red blood cells. This test may
just prove to you what you already know. If you're taking
fish oil supplements, they will show up in the test results,
and your level of chronic inflammation will definitely be
lower. Just remember, it is your body, and you
have the right to know anything you want to know about it,
without a gatekeeper deciding if you should have that information.
A couple
sources for this type of test are Nutrasource
Diagnostics Inc. and Omegametrix.
Expect to pay about $125, in pre-tax dollars from your HSA.
Lower
your costs
HSA
for America has contracted with USBA
Labs to make their lowest pricing available to our
readers. After joining (there is no cost to do so), you may
order lab tests, x-rays, and even CT scans or MRIs. You can
get a feel for prices
here, though you will need to call the company to confirm
the price before ordering.
Like with
most healthcare expenditures, the patient typically does little-to-no
price shopping before ordering lab work. There is also
often a markup by the doctor on tests he or she may order.
So prices are way higher than they should be. Instead
of participating in this messed-up system, many HSA owners
are opting out by ordering their own tests.
It
is not uncommon to save 70% or more on the cost of your tests.
You can even use these testing services when your own doctor
is ordering tests. Just explain that you are paying
for the tests from your HSA, and as an involved consumer you
wish to minimize your out-of-pocket expenses. If your
doctor has a problem with this, you may want to hire a new
doctor.
You're
in charge
To the
great dismay of lovers of bureaucracy, central management,
rationing, and other misguided attempts to manage healthcare
from the top-down, it appears the HSA train has left the
station. Only two years after they became available
there are over 1.1 million HSA accounts covering nearly 2
½ million people. There is already an estimated
$1,500,000,000 (yes, that's one billion, five hundred million
dollars) in HSA accounts.
That's
a lot of people controlling their own healthcare expenses,
and the market will respond. One thing you can do to
help is be a smart consumer. As more people start shopping
their healthcare, the market will respond with lower prices,
more convenience, higher quality, and greater transparency
in price. These are things that will help everyone,
whether they have an HSA or not.
If you
do not already have an HSA, you may get instant quotes and
information on available plans on our website.
If you would like assistance in choosing the best plan, please
call 866-749-2039 to set up a telephone appointment.
To your
health and wealth,
Wiley
Long
President - HSA
for America
P.S. Please continue to give me feedback about this
newsletter. Next month I'll let you know about a service
that will negotiate your medical bills for you.
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