Chris Hobbs, CFO of MediBid, spoke with David Saltzman on ShiftShapers podcast about how MediBid works. As a former banker and recent immigrant from Canada, Hobbs sees the free market as the solution to the current broken system in delivery of healthcare payment. Cost should be a patient’s main question, not which doctor or procedures are “in network”. If you cannot negotiate prices, you are not in control of your health care. Businesses cannot afford current healthcare plans for employees, yet there are affordable options. Laws of supply and demand (ie. free market) are not part of healthcare, so prices are inflated. Value, quality, and transparency are the keys to getting affordable medical care.
On MediBid, a patient completes a request for care, and physicians give quotes for the procedure. Patients can review all the information, including physicians’ education, and make a decision based on all data on their own time. Physicians are tired of the PPO model and current payment system. Doctors and facilities on MediBid set their own prices, noting which fees/tests are and are not included in the given price.
Most people who use MediBid have self-funded and high-deductible plans or are uninsured. Upfront pricing is a new idea in the health care world. In or out of network no longer matters when you pay cash. Patients, be they individuals or part of an employer benefit plan, are satisfied with their results and significant cash savings.
Listen to the complete podcast HERE
Saltzman, David A. “What if doctors bid for your medical care?” LifeHealthPRO: ShiftShapers Episode 38, 30 Dec 2014. Web. 30 Dec 2014.