Competition + Transparency = Better Care
Most medical services are "elective," meaning they can be scheduled. What can be scheduled can be bid. Examples include CT scans, rotator cuff repair, joint replacements, a colonoscopy, or cataract removal. There are hundreds of “elective” high priced services.
At patient request, Medical Pricepoint issues service requests, collects and delivers provider bids to patients, along with information on each provider’s credentials and track record. For example, how experienced is the provider? Did the provider’s prior patients have good outcomes? How did past patients rate the provider?
The patient decides whether to select a bidding provider, or not. When a patient selects a provider bid, Medical Pricepoint then works with the patient’s health plan to arrange cash payment at the time of service.
Providers offer lower prices when paid in cash because it reduces time spent on insurance company billing. Same providers, but with streamlined payment, less paperwork, and lower costs.
| Self-Insured Health Plans
Any Employer Self-Funded Health Plan can offer Medical Pricepoint’s competitive bidding program to employees. Competitive bidding is a simple service enhancement that employers can add to their self-funded PPO plans. Contact us for a complimentary analysis of self-funded health plans' paid claims data to determine savings under the competitive bidding program.
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UnionsAny union member with high deductibles can request provider bids from Medical Pricepoint. Example: a member with a $1000 deductible needs a procedure. The member asks Medical Pricepoint to obtain bids and receives guaranteed price offers, plus provider quality information. The member decides to pick a bidding provider who charges $350, instead of the PPO contract rate of $1000, saving nearly $500 out of pocket. Contact us for more information.
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