Online Healthcare Marketplace Offers Patients Transparent Pricing and up to 60 Percent Savings on Medical Care
Saint Thomas Health, part of Ascension, the nation’s largest non-profit and largest Catholic healthcare system, is partnering with MDsave to help local residents without insurance or with high-deductible health plans save money and get more of the medical care they need. Through the MDsave marketplace, these patients will have access to compassionate, personalized care at Saint Thomas for a wide variety of medical procedures at up-front prices up to 60 percent off the average national rate*, as well as simplified billing and educational resources.
MDsave was recently featured in Fortune magazine in an article noting that about 17.4 million Americans are on high-deductible health plans, where the average deductible is $6,000 a year or more. And 38 million Americans had no health insurance coverage at all as of January 2015. The burden of high out-of-pocket expenses prevents many of these individuals and families from pursuing the medical care they need, especially preventive procedures that could help stave off future health issues and expenses. MDsave and Saint Thomas Health are working to create better options for these vulnerable patients.
“Saint Thomas Health physicians, caregivers and associates are committed to Ascension’s quadruple aim of providing high-quality care, great experiences for patients and our providers, at a lower overall cost of care,” said Karen Springer, chief executive officer of Saint Thomas Health. “This agreement with MDsave advances our goal of ensuring patients and families a new way to take greater control of their healthcare expenditures.”
MDsave empowers patients to take more control over their healthcare decisions by offering transparent pricing and educational resources on diseases and treatments. MDsave’s website allows patients to geographically search by procedure, provider, specialty or ailment, and compare pricing. The process is upfront and easy. Just choose the best option, add to your cart, and check out online – the price posted is what you pay.
“Our average consumer is saving about 40 to 60 percent,” said MDsave co-founder and CEO Paul Ketchel. For example, Ketchel aid, a particular MRI might cost $2,500 on the healthcare exchange, but by researching and booking through MDsave, that same patient could get an MRI for much less. “People are able to carefully shop and access the important care they need sooner, not waiting until their conditions get worse and they have to access the emergency room, where care is more expensive because it is set up to handle the most complex cases.” Similar savings are available on many of the procedures offered, from mammograms to cardiac catheterization to hip arthroscopy and more.
“Working with Saint Thomas, we are taking an important step toward making healthcare more accessible and affordable,” said Ketchel. “We know that the cost of preventive treatments is often a factor in people neglecting to have them. We hope that our strategic alliance will increase access to quality medical care and, as a result, help save lives.”
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 Saint Thomas Health
Saint Thomas Health is Middle Tennessee’s faith-based, not-for-profit health care system united as one healing community. Saint Thomas Health is focused on transforming the health care experience and helping people live healthier lives, with special attention to the poor and vulnerable. The regional health system includes nine hospitals: Saint Thomas Hospital for Spinal Surgery, Saint Thomas Midtown Hospital and Saint Thomas West Hospital in Nashville, Saint Thomas Rutherford Hospital in Murfreesboro, Saint Thomas Hickman Hospital in Centerville, Saint Thomas DeKalb Hospital in Smithville, Saint Thomas Highlands Hospital in Sparta, Saint Thomas River Park Hospital in McMinnville and Saint Thomas Stones River Hospital in Woodbury. A comprehensive network of affiliated joint ventures, medical practices, clinics and rehabilitation facilities complement the hospital services and cover a 68-county area. Saint Thomas Health is the Tennessee ministry of Ascension, the largest not-for-profit health system in the United States. For more information, visit www.STHealth.com.
Ascension (www.ascension.org) is a faith-based healthcare organization dedicated to transformation through innovation across the continuum of care. As the largest non-profit health system in the U.S. and the world’s largest Catholic health system, Ascension is committed to delivering compassionate, personalized care to all, with special attention to persons living in poverty and those most vulnerable. In FY2015, Ascension provided nearly $2 billion in care of persons living in poverty and other community benefit programs. Approximately 160,000 associates and 36,000 aligned providers serve in 2,500 sites of care – including 141 hospitals and more than 30 senior living facilities – in 24 states and the District of Columbia. In addition to healthcare delivery, Ascension subsidiaries provide a variety of services and solutions including physician practice management, venture capital investing, investment management, biomedical engineering, clinical care management, information services, risk management, and contracting through Ascension’s own group purchasing organization.
*Savings are calculated based on the MDsave price compared to average market cost of offered medical services.