Industry innovators team up to put healthcare bundling and transparency into action for consumers
Brentwood, Tennessee – July 26, 2016 – MDsave, Inc., the world’s first online healthcare marketplace, today announced Cambia Health Solutions has made a strategic investment in the company. Cambia is a total health solutions company made up of a family of businesses all dedicated to creating a consumer-focused and economically sustainable health care system.
“In every other sector of our economy, people are increasingly able to purchase services and products through frictionless processes and with clear pricing information,” said Cambia President of Direct Health Solutions Rob Coppedge. “We are excited to announce our investment in MDsave, a company that is successfully bringing new healthcare purchasing options to consumers by partnering directly with medical providers. At Cambia we are committed to investing in market-leading companies like MDSave that are changing the game for the healthcare consumer.”
Cambia will work to develop strategic partnerships between MDsave and Cambia portfolio companies, including HealthSparq, which serves 70 health plans and 74 million consumers nationwide.
“High costs and confusing pricing have broken our healthcare system,” said Paul Ketchel, co-founder and CEO of MDsave. “MDsave is on a campaign to fix it, using our patented technology to increase patient access to our growing network of providers through bundled services and payments, reducing waste and easing the pain of payments and collections, lowering the overall cost of care and increasing the rate and ratio of payments to providers.”
MDsave’s marketplace capabilities and streamlined payment process complements Cambia’s transparency solutions, enabling consumers to shop for health care easily and efficiently. This partnership will accelerate both companies’ efforts in delivering a seamless health care shopping and payment experience to consumers nationwide.
Co-located in Brentwood, Tenn. and San Francisco, Calif., MDsave is the world’s first online healthcare marketplace, bringing together patients seeking affordable, reliable care with providers offering high-quality services at fair prices. Using cutting-edge technology, MDsave simplifies the healthcare billing process for patients and providers alike through negotiated rates, bundled pricing, and up-front payment. The MDsave marketplace also helps employers and payers offer more value to employees and policy holders with out-of-pocket deductible costs. Launched in June 2012, the company offers a wealth of information on its website about common illnesses and procedures. For more information, visit http://www.mdsave.com.
About Cambia Health Solutions
Cambia Health Solutions, headquartered in Portland, Ore., is a nonprofit total health solutions company dedicated to transforming health care by creating a person-focused and economically sustainable system. Cambia’s growing family of companies range from software and mobile applications, health care marketplaces, non-traditional health care delivery models, health insurance, life insurance, pharmacy benefit management, wellness and overall consumer engagement. Through bold thinking and innovative technology, we are delivering solutions that make quality health care more available, affordable and personally relevant for everyone. To learn more, Visit http://www.cambiahealth.com or twitter.com/cambia.
Abernathy MacGregor Group
Trevor Martin, 415-926-7961