CashMD.com, A Health Tech Startup Providing Online Access to Transparent Pricing for Healthcare Services
BLOOMINGTON, Ind., Dec. 18, 2019 /PRNewswire/ -- CashMD.com, a new digital health startup, plans to capitalize on the growing market, with their innovative healthcare tool and online marketplace. CashMD plans to pioneer its way to becoming a platform where healthcare providers and hospitals can demonstrate compliance with President Trump's Executive Order on healthcare transparency. Just last month, on November 14th, President Donald Trump announced, "Our goal (is) to give patients the knowledge they need about the real price of healthcare services. They'll be able to check them, compare them, go to different locations, so they can shop for the highest-quality care at the lowest cost." At this time, two major details of this policy change were revealed: First, the Trump administration is "finalizing a rule that will compel hospitals to publish prices publicly online for everyone to view and compare." Second, there will be a proposed rule to require health insurance providers to disclose their pricing information to consumers.
CashMD.com has chosen Indiana and Kentucky as the initial launch sites for their digital healthcare marketplace. The platform allows providers of all disciplines of medicine to create a profile and upload their products, services, and prices. Patients create an account, and search for a provider, product, or service, in a geographic area. The patient can then review search results, choose a provider, and book an appointment. Providers are incentivized to use the CashMD service by gaining new cash paying patients, receiving faster reimbursement, eliminating surprise billing for patients, and being given the autonomy to once again, make care decisions for their patients without third party interference.
The CashMD.com platform is based on a cash pay model, which has the potential to benefit millions of patients across the country. It has been reported that more than 27 million Americans are without health insurance (Kaiser Family Foundation), 74 million are without dental insurance (nadp.org), and 62 million are without vision insurance (Vision Service Plan). Additionally, it is estimated that an alarming 44 million American patients are underinsured - which means that even patients with health insurance can also benefit from the service.
CashMD.com will aid in the goal of facilitating healthcare pricing information to patients, thus empowering them to take control over their healthcare decisions. There are no fees for patients who utilize the CashMD platform. Additionally, CashMD.com is offering providers, who sign up before March 1st, 2020, a free one calendar year membership subscription.
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SOURCE CashMD
