Online healthcare marketplace offers patients transparent pricing and savings on medical care
MDsave and St. Cloud Regional Medical Center 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 St. Cloud Regional will have access to a wide variety of medical procedures* at up-front prices as well as simplified billing and educational resources.
MDsave was previously featured in a Fortune magazine article citing an estimated 17.4 million Americans are 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 can prevent many individuals and families from getting medical care they need, especially preventive procedures that could help stave off future health issues. MDsave and St. Cloud Regional Medical Center are working to create better options for these patients.
"In today's marketplace, healthcare can be confusing, especially for consumers who are uninsured or carry high-deductible insurance plans," said Brent Burish, CEO, St. Cloud Regional Medical Center. "This service can help patients access 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. The price includes all costs associated with the procedure including physician billing. Patients will not receive another bill.
"Through this program, people are getting the lower-level care they need to address health concerns rather than ending up with a medical emergency that requires costly ER care," says MDsave co-founder and CEO Paul Ketchel. Similar savings are available on many of the procedures offered, from mammograms to cardiac catheterization to hip arthroscopy and more.
"Working with St. Cloud Regional Medical Center, 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."
*Savings are calculated based on the MDsave price compared to average market cost of offered medical services.