Money for Nothing and Healthcare for Low Fees

Michael Andrade interviews MediBid CEO Ralph Weber

Ralph Weber has been a consultant for employers for years. Employers reached the breaking point of expensive medical plans that are low quality. Millions of claims data were studied and found that 35-40% of procedure costs were above the median price. Competition works, but adding transparency ONLY raises costs. There is an inverse correlation between quality and cost, finding that by improving quality, cost can be lowered. A skilled surgeon can perform faster, meaning less time needed for operating room and anesthesia. Facility charges are normally the most pricey piece of the total procedure total, so lowering the need for facility time is a great cost saver.

To become a MediBid physician, an interested doctor will have their state license checked for any malpractice or board complaints and their ratings are gathered from online sources. When a patient places a request, they will see the Medicare and Healthcare Bluebook rates, as well as the average bid placed on MediBid. There is some variability in prices depending on distance from patient or what all is included in the bid. Second opinions can save money and unnecessary surgery. Eliminating suffering is key, with or without surgery.

When an employee wants to place a bid, they will first visit the landing page assigned to their workplace. They are provided a login as well. They follow the prompts to create a medical request and upload up to five documents. Some pre-programmed bids will automatically appear, while other physicians will look over the request before placing their bid. They are able to send questions to the patient before placing a bid. If a patient does not receive bids in the area they are requesting, we will call around to find a provider in their area. Once a bid is accepted, the patient will give payment in person at time of service.

Once an employer client is signed on, MediBid will recruit providers from that state or area. Patients normally will travel 250-500 miles to get medical care, as expanding your immediate area allows for better prices and ratings. Employers think that big insurance is what they need, so MediBid has different plans based on what they are willing to cover per employee.

To listen to the entire podcast, click HERE

Andrade, Michael. “Ralph Weber: Money for nothing and your healthcare services for a much lower fee!” Solving, Nov 2019. Web. 14 Nov 2019.