The current state of our Healthcare industry leads to patients and employer’s health plans paying inflated prices with no real price transparency or solutions to mitigate costs. This story highlights how a state antitrust investigation on the inflated pricing of two generic drugs in 2016 expanded to alleged price fixing on over 300 drugs and illustrates how the deck is stacked against patients in healthcare pricing. Medxoom helps patients and employers manage their healthcare costs through pre-purchase pricing transparency technology tools that help avoid overpriced healthcare providers and Rx drugs.
A patient explains his trip to the ER and the $23,000 in charges he incurred for his two hour trip. The ER staff couldn’t find anything medically wrong, attributed his symptoms to anxiety and stress with no clear diagnosis, and told him to schedule a visit with his primary care physician. While Medxoom cannot help prevent egregious charges, we can help provide patients and employers with transparency on pricing to save money with our proprietary technology. While some instances like ER visits are to sudden to avoid, in most cases, there’s ample time to know how much your hospital visit is going to cost before visiting and compare the wildly variable pricing to assure you lower your out-of-pocket as a consumer and overall healthcare expenses as an employer.
Patients continue to experience surprise excessive billing, something discussed a few weeks ago. This story illustrates increased charges when hospitals buy physician practices and add “facility fees” for in-office care. Medxoom can’t help with industry-standard billing procedures, but we can help bring transparency to medical pricing. Medxoom’s comparison technology can help patients and employers compare healthcare costs and quality before receiving treatment to avoid excessive charges.
Hospitals usually justify mergers claiming it will help lower healthcare costs for patients, but this recent study shows how healthcare costs generally increase post-merger. This means pre-service comparison shopping based on your plan’s historical claims data is more important in areas where hospitals have merged. Medxoom’s price-comparison technology helps patients and employers compare healthcare costs and quality ratings before procedures to save 10%+ annually.
More insurers and employers are shifting the ever increasing cost of healthcare onto their workers and customers via high-deductible insurance plans. These high-deductible plans are causing providers to experience pressures as they try to collect payments from their patients who have not reached their deductibles. Medxoom can help patients save money and providers collect money owed with our easy to use payments technology.
Increasing healthcare costs are causing both patients and doctors to lose trust in the United States healthcare system as a whole. This patient’s doctor prescribed medication that cost over “$15,000 a shot” for her breast cancer treatment. Medxoom’s price and quality comparison technology platform helps patient’s get clarity and information to discuss with their doctors before treatment.
As healthcare costs continue to rise and remain unknown prior to service, patients are still left in the dark to know pricing or compare alternatives prior to getting their procedures. This patient trusted her provider and ended up with a medical bill described as “astronomical and nuts” by one. Medxoom’s technology platform provides much-needed pre-service comparison price and quality ratings for providers based on any plan’s historical network pricing data.
The absence of comparison shopping tools tied directly to an employee’s health plan leads to overpaying for most medical procedures and ever higher healthcare costs. Before getting a medical procedure or service, Medxoom gives employers and their employees the ability to compare the price and quality of specific procedures at providers in their network based on their own plan’s historical data. Medxoom’s private label mobile technology platform provides much-needed comparison shopping, claim payments, and CRM for employer health plans.
As healthcare costs continue to rise, some are pushing back against the industry standards, proving that there is a way to decrease costs. ProPublica features one such story, of Marilyn Bartlett pushing back to save millions in healthcare costs in Montana. Medxoom allows employers and their employees to know the price and quality rating of a hospital procedure before deciding where to go.
This article highlights growing hospital monopolies as a major contributor to the rising cost of healthcare for Americans today. Learn about the industry consolidation that’s allowed greater negotiating power that continues to drive up healthcare costs and minimizes pricing transparency. Medxoom lets employers and their employees know hospital procedure pricing before going, so they can select the highest quality lowest cost hospital for their needs.