BRENTWOOD, Tenn., June 21, 2012 /PRNewswire/ -- MDSave Inc. (www.mdsave.com), a Brentwood-based healthcare technology company, announced today it has launched a new healthcare service which provides self-pay patients and those with high deductible insurance plans an easy-to-use online resource to compare and dramatically save on their healthcare related expenses.
MDSave.com, co-founded by Paul Ketchel and Clyde Spencer, offers Tennessee patients the ability to compare the cost of medical procedures offered by physicians in their community. Healthcare providers post medical services with the total price they charge directly on the website. Patients then can easily search, compare, and purchase those services with complete privacy. After a purchase is made the customer is provided a medical voucher for the service and the physician's appointment desk is notified.
"We created MDSave.com to solve two major problems in the U.S. healthcare system," said Ketchel, Chief Executive Officer. "First, to dramatically reduce the cost patients are paying for healthcare and second, to significantly decrease the long payment cycles medical providers endure waiting for reimbursement. The result is the online service promotes competitive pricing by physicians and patients get to take advantage of the savings."
Patients receive discounted services and medical providers receive full payment for their services within six days or less without the need to file lengthy claim forms.
"MDSave.com is unique because for the first time patients and providers have a simple, easy solution to directly negotiate for medical services," said Spencer, Chief Operating Officer. "Leading healthcare providers are embracing this concept. They can quickly add, change or delete healthcare services at any time so as to be more competitive in the market place. Patients now have the ability to compare and purchase healthcare services the same way they purchase other items online. MDSave places the control of healthcare where it should be-in the hands of the patients and providers."
Ketchel and Spencer were inspired to develop MDSave after they converted their health insurance to a high deductible Health Savings Account (HSA) plan.
"There was a day when I needed a medical procedure," said Ketchel. "I had not met my annual deductible so I called several physician offices to price their services. I found a wide disparity in cost and the research was time consuming. After this experience I saw an opportunity to create a healthcare service that uses the same e-commerce principles that have reduced costs and improved efficiency in other industries."
The MDSave service is currently available in Tennessee. The online company plans to expand to several additional metro markets in the next 12 months.
MDSave is a consumer-driven healthcare technology company based in Brentwood, Tenn. MDSave uses e-commerce technologies to lower the cost of healthcare to consumers and increase provider profitability.
Media Contact: Paul Ketchel, 1-877-461-2491, ext 802, [email protected]
SOURCE MDSave Inc.