A Houston-based company serving patients nationwide, MediBid, saves patients money on medical procedures. MediBid is a place where doctors bid against each other for your common surgical procedures, like hip and knee replacements.
California resident Perry Hunt was in debilitating pain and required a hip replacement. Just days before the scheduled procedure, Hunt’s insurance refused payment on the procedure, which would leave him with over $100,000 in medical bills. He cancelled the surgery and searched online for options, where he discovered MediBid.
Patients pay a small fee, describe their condition, then doctors bid on the procedure like an auction. Physicians and facilities list their prices and what’s included. Hunt was living in Texas at the time he placed his procedure request and said bids started coming in right away. He researched the surgeons and selected one that was a fraction of what was quoted by the hospital.
Orange County surgeon, Dr. Peter LePort states, “bureaucracy is what’s costing so much money, not the actual care.” Dr. LePort gets some of his patients from MediBid. He explains that his cash price for a hernia repair is much less than most deductibles. Physician bids are based on their own costs, instead of a negotiated insurance price which can be up to twice as much.
MediBid is not intended to replace your existing insurance, but to assist those with high-deductible plans or insurance that denies coverage for certain procedures. MediBid CEO Ralph Weber says the idea is to connect patients with doctors. Hunt is now pain free and says the MediBid experience was well worth it.
Los Angeles NBC station KNBC aired this feature story on MediBid on the nightly newscast June 2, 2016.
Watch the entire news story at:
Mac, Randy, Schrader, Matt, and Cervantes, Mike. “Medical Auctions Could Save Thousands.” On air. NBC Los Angeles KNBC, 2 Jun 2016. Web. 7 Jun 2016.