Online Healthcare Marketplace Offers Patients Transparent Pricing and up to 60 Percent Savings on Medical Care
MDsave and Yoakum Community Hospital are working together to help local residents without insurance or with high-deductible health plans save money and get more of the medical care they need. Through the MDsave marketplace, patients at YCH will have access to a wide variety of medical procedures at up-front prices up to 60 percent off the average rate, as well as simplified billing and educational resources.
MDsave was recently featured in Fortune magazine in an article citing an average of 17.4 million Americans on high-deductible health plans, where the average deductible is $6,000 a year or more. Another 38 million Americans had no insurance coverage at all as of January 2015. In both cases, out-of-pocket expenses prevent many individuals and families from getting medical care they need, especially preventive procedures that could help stave off future health issues. MDsave and YCH are working to create better options for these patients.
“In today’s marketplace, healthcare can be confusing and expensive, especially for consumers who are uninsured or carry high-deductible insurance plans,” said John Olivares, CFO, YCH. “This service can help these patients access the same quality healthcare they have come to expect at our hospital at a lower cost.”
MDsave empowers patients to take more control over their healthcare decisions by offering transparent pricing and educational resources on diseases and treatments. MDsave’s website allows patients to geographically search by procedure, provider, specialty, or ailment, and compare pricing. The process is upfront and easy. Just choose the best option, add to your cart, and check out online – the price posted is what you pay.
“Our average consumer is saving about 40% to 60%,” says MDsave co-founder and CEO Paul Ketchel. For example, Ketchel explains, an MRI might cost $2,500 on the healthcare exchange, but by researching and booking through MDsave, that same patient could get an MRI at YCH for less than $500. “People are getting some of the lower-level care they need sooner and not showing up at the emergency room where things are really expensive.” Similar savings are available on many of the procedures offered, from mammograms to cardiac catheterization to hip arthoscopy and more.
“Working with YCH, we are taking an important step toward making healthcare more accessible and affordable,” says Ketchel. “We know that the cost of preventive treatments is often a factor in consumers neglecting to have them. We hope that our strategic alliance will increase access to quality medical care and, as a result, help save lives.”
Co-located in Brentwood, Tenn. and San Francisco, Calif., MDsave is the world’s first online healthcare marketplace, bringing together patients seeking affordable, reliable care with providers offering high-quality services at fair prices. Using cutting-edge technology, MDsave simplifies the healthcare billing process for patients and providers alike through negotiated rates, bundled pricing, and up-front payment. The MDsave marketplace also helps employers and payers offer more value to employees and policy holders with out-of-pocket deductible costs. Launched in June 2012, the company offers a wealth of information on its website about common illnesses and procedures. For more information, visit http://www.mdsave.com.