Employers & TPAs

Transparency and competition result in affordable health plans

Employers and TPAs continue to see healthcare inflation spiraling out of control. Many health insurance brokers chase increases by increasing copays and deductibles, but healthcare inflation is still unsustainable. How can an employer or TPA develop an affordable and sustainable health plan or program? Two words: transparency and competition.

Thanks to what Travelocity has done, bringing down travel costs, the model embraces transparency and competition. It is transparent because the consumer can see multiple prices at once. They get to compare quality, location, price and value and make an informed decision. There is competition because various providers are vying for your business and are setting their own prices. Often these prices are based on time elements. For example, if there are 30 extra seats on a flight tomorrow, they can be sold for $50. Likewise, if there are three open operating rooms tomorrow, the hospital can rent them out for a lower price.

MediBid allows employers the opportunity to harness transparency and competition to reverse healthcare inflation, making health plans affordable.

Transparency

Employees can see every doctor and hospital’s ratings, and quality outcomes.
They see the location, training and experience of the surgeon in advance, and make their choice based on their own needs.
They get to see the procedure they really NEED, instead of the procedure that is covered by insurance.

Competition

Doctors and hospitals from across state lines and international borders all will be making a bid on your medical needs.
Doctors get to develop efficiencies in narrow fields and pass on these savings.
Doctors get paid at the time of service, so they can save overhead needed in the traditional medical billing model where doctors are often lucky to collect one third of what they bill to insurance companies, and to collect that within 90 days.

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Transparency and competition result in affordable health plans

Transparency

Employees can see every doctor and hospital’s ratings, and quality outcomes.

They see the location, training and experience of the surgeon in advance, and make their choice based on their own needs.

They get to see the procedure they really NEED, instead of the procedure that is covered by insurance.

Competition

Doctors and hospitals from across state lines and international borders all will be making a bid on your medical needs.

Doctors get to develop efficiencies in narrow fields and pass on these savings.

Doctors get paid at the time of service, so they can save overhead needed in the traditional medical billing model where doctors are often lucky to collect one third of what they bill to insurance companies, and to collect that within 90 days.