Industry |
Medical Healthcare Technology |
---|---|
Founder | Paul Ketchel |
Website |
www |
MDsave is an online platform that connects uninsured patients, health savings account holders, and high deductible insurance patients with medical providers who offer pre-negotiated savings on medical services. [1]
MDsave offers medical providers a way to package their services into a single bundled procedure online [2], and offers consumers paying out of pocket a way to comparison shop different providers [3]. It is the world’s first transactional healthcare marketplace [4].
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 six days, versus the average 60-90 days through insurance. [3]
MDsave uses a patented technology [5] [6] 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. [2]
MDsave was founded in 2011 in Brentwood, Tennessee [1] by Paul Ketchel, the current CEO [4], to meet growing demand for accessible pricing, communication and upfront costs. [7] They have raised more than $14 million from investors and earned $5 million in 2015. [2] The company officially launched in 2013. [3] Investors include MTS Health Partners [2]. Board members include former Senate Majority Leader Dr. Bill Frist [2].
MDsave works with hospital groups and ambulatory surgical centers. It already has a presence in 24 states and 120 markets, and is growing at a rate of 20% month over month. [2] Providers include Dignity Health, Catholic Health Initiatives, Community Health Systems, Tenet Healthcare and more. [3]
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. [2]
Paul Ketchel is founder and CEO of MDsave. Previously, he was the Chief Operating Officer of Diagnostics Network Alliance and a Director for American Capitol Group. Paul Ketchel began his career as an aide to United States Senator Bill Frist. [4]
Industry |
Medical Healthcare Technology |
---|---|
Founder | Paul Ketchel |
Website |
www |
MDsave is an online platform that connects uninsured patients, health savings account holders, and high deductible insurance patients with medical providers who offer pre-negotiated savings on medical services. [1]
MDsave offers medical providers a way to package their services into a single bundled procedure online [2], and offers consumers paying out of pocket a way to comparison shop different providers [3]. It is the world’s first transactional healthcare marketplace [4].
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 six days, versus the average 60-90 days through insurance. [3]
MDsave uses a patented technology [5] [6] 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. [2]
MDsave was founded in 2011 in Brentwood, Tennessee [1] by Paul Ketchel, the current CEO [4], to meet growing demand for accessible pricing, communication and upfront costs. [7] They have raised more than $14 million from investors and earned $5 million in 2015. [2] The company officially launched in 2013. [3] Investors include MTS Health Partners [2]. Board members include former Senate Majority Leader Dr. Bill Frist [2].
MDsave works with hospital groups and ambulatory surgical centers. It already has a presence in 24 states and 120 markets, and is growing at a rate of 20% month over month. [2] Providers include Dignity Health, Catholic Health Initiatives, Community Health Systems, Tenet Healthcare and more. [3]
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. [2]
Paul Ketchel is founder and CEO of MDsave. Previously, he was the Chief Operating Officer of Diagnostics Network Alliance and a Director for American Capitol Group. Paul Ketchel began his career as an aide to United States Senator Bill Frist. [4]