What does being in network or part of our network
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Posted On: 03/14/2020 4:33:21 PM
What does being in network or part of our network really mean?
In network refers to providers or health care facilities that are part of a health plan’s network of providers with which it has negotiated a discount. Insured individuals usually pay less when using an in-network provider, because those networks provide services at lower cost to the insurance companies with which they have contracts. A provider’s contract with the insurer requires the insurer to accept the insurer’s payment (plus the patient’s cost-sharing, such as the deductible, copay, or coinsurance) as payment in full — an in-network provider cannot balance bill a patient.
A company that is part of our network does not mean we own them, nor does it mean they are part of our company. Instead, we simply provide a service at a pre-negotiated price.
Source: https://www.healthinsurance.org/glossary/in-network/
In network refers to providers or health care facilities that are part of a health plan’s network of providers with which it has negotiated a discount. Insured individuals usually pay less when using an in-network provider, because those networks provide services at lower cost to the insurance companies with which they have contracts. A provider’s contract with the insurer requires the insurer to accept the insurer’s payment (plus the patient’s cost-sharing, such as the deductible, copay, or coinsurance) as payment in full — an in-network provider cannot balance bill a patient.
A company that is part of our network does not mean we own them, nor does it mean they are part of our company. Instead, we simply provide a service at a pre-negotiated price.
Source: https://www.healthinsurance.org/glossary/in-network/
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