MMS provides insight on how to make cost-sharing information available to consumers to inform their care decisions and lower healthcare costs.
Portsmouth, NH – January 13, 2020 – MMS Analytics, Inc. dba MyMedicalShopper, the leading provider of healthcare price transparency solutions, submitted a detailed response to the U.S. Department of Health and Human Services regarding proposed rulemaking to “give consumers personalized, real-time access to cost-sharing information,” shedding light on the secret world of healthcare pricing and empowering consumers to make more informed care decisions.
The “Transparency in Coverage CMS-9915-P” rule requires most group health plans and issuers to give participants personalized access to provider pricing, including an estimate of negotiated in- and out-of-network cost-sharing liability, via an online tool or paper, upon consumer request. The proposed rule would make consumers fully aware of their insurance issuer’s negotiated prices before receiving care to compare provider costs, include pricing in their decision-making, and promote more competition in the healthcare industry to lower cost.
“This rule would finally put an end to the secret pricing in healthcare and create a fair marketplace for consumers,” said Mark Galvin, President and CEO of MMS Analytics, Inc., the creator of MyMedicalShopper. “For the past six years MyMedicalShopper has provided users with unparalleled access to negotiated pricing information via its responsive web design (RWD) and mobile application—exactly like those proposed in the new rules. We’re excited to share our expertise with these agencies to ensure consumers have access to the tools and information needed to make better-informed healthcare decisions.”
MyMedicalShopper is a comprehensive platform for employers designed to drive down the cost of healthcare while improving employee benefits. The platform includes the nation’s leading medical price transparency tools for employees, dynamic rewards programs, and robust analytics packages for employers.
MyMedicalShopper is available through benefit brokers and consultants serving both the fully insured and self-funded employer markets. The platform integrates with over 120 health plan member portals providing real-time deductible tracking, in- and out-of-network facility information, and other personalized plan details to help employees manage out-of-pocket expenses and plan for future procedures.
MyMedicalShopper empowers employers and their employees to take control of their healthcare costs on over 10,000 medical tests and procedures tests by making it easy to shop for low-cost, high-quality medical care.
About MMS Analytics, Inc. (www.MyMedicalShopper.com)
MMS Analytics, Inc. dba MyMedicalShopper™ is a big data company on a mission to build technology, products, and services to drive meaningful savings from the cost of healthcare in the United States. The company was founded on the belief that fixing the broken healthcare marketplace required a focus on the alignment of financial incentives, medical price transparency, and the reduction of administrative overhead. The company empowers employers and their employees with the ability to choose care based on price, quality, and convenience with unprecedented access to the previously secretive prices negotiated between insurance carriers and providers. Experts document that as much as $1 trillion could be slashed annually from the cost of healthcare in the United States. MyMedicalShopper aims to help transform the healthcare industry into a fair market for consumers.