Hospitals are required to share the standard charges for services and medicines
that they provide patients. In an effort to ensure that our patients are
knowledgeable about the different terms used when billing for a healthcare
service, the following are key definitions related to payments and working
with your insurance plans:
The deductible amount is based on what the insurance policy deems as payable
by the patient before it begins to pay. This can range from $500 or $10,000,
depending on what the patient has chosen when they signed-up for their plan.
Co-pay dollars are what is paid up front by the patient for a covered
healthcare service, such as a doctor visit or a medication. This co-pay
amount is determined by the patient’s policy.
Co-insurance is the percentage of the bill that a patient pays for the
covered services within their policy. This may be an 80%/20% split, where
the patient pays the 20% remaining on the bill after the plan pays the
There is other terminology that is important for you to understand as you
consider your payment responsibility and IVCH’s charges. Healthcare
organizations consider three different terms when referring to a patients’ bill:
This dollar amount is the amount set prior to any discounts that may be
provided to a payer in order for the healthcare system to accept their patients.
Cost is the total expense incurred for taking care of a patient. Healthcare
services are provided around the clock so are higher than another type
Price is the actual amount paid to a healthcare organization, and is more
times than not, much less than the actual charges for the services provided.
For a complete review of our standard charges, please