This article may have been created or edited in return for undisclosed payments, a violation of Wikipedia's
terms of use. It may require cleanup to comply with Wikipedia's
content policies, particularly
neutral point of view. (August 2019) |
Industry |
Medical Healthcare Technology |
---|---|
Founded | 1 June 2012 |
Founder | Paul Ketchel |
Fate | Acquired by Tendo |
Headquarters | , |
Website |
www |
MDsave is a healthcare ecommerce company co-located in Brentwood, Tennessee, and San Francisco, California.
The company officially launched in 2013. [1] MDSave connects uninsured patients, health savings account holders, and high deductible health insurance patients with medical providers who offer pre-negotiated savings on medical services. [2]
MDsave was founded in 2011 in Brentwood, Tennessee [2] by Paul Ketchel, the current CEO. [3] [4] Paul Ketchel was formerly chief operating officer of Diagnostics Network Alliance and a director for American Capitol Group. [3]
MDsave officially launched in 2013. [1] [5] They had raised more than $14 million from investors and earned $5 million in 2015, with investors including MTS Health Partners. [6] By 2015, it was in place in 24 states. [1] Through the company's website, patients can compare local prices for different medical procedures; choose the price and provider that work best for them; and pre-purchase a voucher that covers all expenses. [7]
In August 2016, MDsave secured a $5 million investment from Cambia Health Solutions [8] and was doing around 2,000 transactions per month. [9]
In June 2018, MDsave began working with St. Cloud Regional Medical Center. [10] At the end of 2018, MDsave had expanded to a network of more than 200 hospitals across 29 states. [11]
In May 2019, Gwinnett Medical Center became the first Atlanta-area hospital to partner with MDsave. [12]
In March 2020, MDsave announced the appointment of Greg Born, a former global strategy leader for Amazon, as the new company president and COO. [13]
In September 2023, MDsave was acquired by Tendo for $150million. [14]
MDsave offers medical providers a way to package their services into a single bundled procedure online, [6] and offers consumers paying out of pocket a way to comparison shop different providers. [1] It is the world's first transactional healthcare marketplace. [3]
A patient searches for a treatment or procedure in a location, and MDsave returns a list of providers in that area with price, location and doctor's ratings. A patient purchases the bundled procedure, which includes all associated fees and services, using PayPal, a credit card or a financing plan online. The patient receives a voucher to present to the doctor's office at their first appointment. The providers get paid within four days, versus the average 60–90 days through insurance. [1]
MDsave uses a patented technology [15] [16] that cross-references Medicare billing codes, procedural codes, and diagnosis codes to create an upfront price for the bundled services involved in a single treatment or procedure. [6]
Through the MDsave marketplace, patients have access to a wide variety of medical procedures at up-front prices, along with simplified billing and educational resources. [17] The prices posted on the site are pre-negotiated with individual doctors or hospitals, and include all costs associated with the procedure, including physician billing; patients do not receive another bill. [18] [10]
In November 2018, MDsave partnered with CareCredit, a health, wellness and personal care credit card offered by Synchrony Bank, to offer promotional financing for patients. [19]
MDsave works with providers to bundle complex medical procedures into a single upfront payment, which provides consumers with discounted out-of-pocket healthcare bills. [20]
MDsave Plus is geared toward employers as a supplement to employee health benefits. MDsave negotiates prices with providers and then passes the savings along to employees, who can save up to 60% on their medical costs. [6]
MDsave works with hospital groups and ambulatory surgical centers. In 2016 it had a presence in 24 states and 120 markets, and was growing at a rate of 20% month over month. [6] Providers in 2015 included Dignity Health, Catholic Health Initiatives, Community Health Systems, Tenet Healthcare and others. [1]
Board members include former Senate Majority Leader Dr. Bill Frist. [6]
This article may have been created or edited in return for undisclosed payments, a violation of Wikipedia's
terms of use. It may require cleanup to comply with Wikipedia's
content policies, particularly
neutral point of view. (August 2019) |
Industry |
Medical Healthcare Technology |
---|---|
Founded | 1 June 2012 |
Founder | Paul Ketchel |
Fate | Acquired by Tendo |
Headquarters | , |
Website |
www |
MDsave is a healthcare ecommerce company co-located in Brentwood, Tennessee, and San Francisco, California.
The company officially launched in 2013. [1] MDSave connects uninsured patients, health savings account holders, and high deductible health insurance patients with medical providers who offer pre-negotiated savings on medical services. [2]
MDsave was founded in 2011 in Brentwood, Tennessee [2] by Paul Ketchel, the current CEO. [3] [4] Paul Ketchel was formerly chief operating officer of Diagnostics Network Alliance and a director for American Capitol Group. [3]
MDsave officially launched in 2013. [1] [5] They had raised more than $14 million from investors and earned $5 million in 2015, with investors including MTS Health Partners. [6] By 2015, it was in place in 24 states. [1] Through the company's website, patients can compare local prices for different medical procedures; choose the price and provider that work best for them; and pre-purchase a voucher that covers all expenses. [7]
In August 2016, MDsave secured a $5 million investment from Cambia Health Solutions [8] and was doing around 2,000 transactions per month. [9]
In June 2018, MDsave began working with St. Cloud Regional Medical Center. [10] At the end of 2018, MDsave had expanded to a network of more than 200 hospitals across 29 states. [11]
In May 2019, Gwinnett Medical Center became the first Atlanta-area hospital to partner with MDsave. [12]
In March 2020, MDsave announced the appointment of Greg Born, a former global strategy leader for Amazon, as the new company president and COO. [13]
In September 2023, MDsave was acquired by Tendo for $150million. [14]
MDsave offers medical providers a way to package their services into a single bundled procedure online, [6] and offers consumers paying out of pocket a way to comparison shop different providers. [1] It is the world's first transactional healthcare marketplace. [3]
A patient searches for a treatment or procedure in a location, and MDsave returns a list of providers in that area with price, location and doctor's ratings. A patient purchases the bundled procedure, which includes all associated fees and services, using PayPal, a credit card or a financing plan online. The patient receives a voucher to present to the doctor's office at their first appointment. The providers get paid within four days, versus the average 60–90 days through insurance. [1]
MDsave uses a patented technology [15] [16] that cross-references Medicare billing codes, procedural codes, and diagnosis codes to create an upfront price for the bundled services involved in a single treatment or procedure. [6]
Through the MDsave marketplace, patients have access to a wide variety of medical procedures at up-front prices, along with simplified billing and educational resources. [17] The prices posted on the site are pre-negotiated with individual doctors or hospitals, and include all costs associated with the procedure, including physician billing; patients do not receive another bill. [18] [10]
In November 2018, MDsave partnered with CareCredit, a health, wellness and personal care credit card offered by Synchrony Bank, to offer promotional financing for patients. [19]
MDsave works with providers to bundle complex medical procedures into a single upfront payment, which provides consumers with discounted out-of-pocket healthcare bills. [20]
MDsave Plus is geared toward employers as a supplement to employee health benefits. MDsave negotiates prices with providers and then passes the savings along to employees, who can save up to 60% on their medical costs. [6]
MDsave works with hospital groups and ambulatory surgical centers. In 2016 it had a presence in 24 states and 120 markets, and was growing at a rate of 20% month over month. [6] Providers in 2015 included Dignity Health, Catholic Health Initiatives, Community Health Systems, Tenet Healthcare and others. [1]
Board members include former Senate Majority Leader Dr. Bill Frist. [6]