Overview

Solving extreme price variation through a set of one-of-a-kind innovative tools.

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Solving Extreme Price Variation

Few patients are aware of the hidden variations in healthcare network “discount” prices. When we overpay for medical tests and procedures due to lack of price information normally available in any efficient marketplace, we experience higher out-of-pocket costs, drive up insurance premiums and increase the cost of healthcare for everyone. See the table below, a representative sample of hidden variations in healthcare “discount” prices.

It’s not just Boston, either. Extreme price variation is happening everywhere.

As a result of missing normal consumer information in the healthcare marketplace, premiums and employee out-of-pocket costs have greatly outpaced general inflation and employee wage increases dramatically resulting in a healthcare cost crisis. These costs are unrelated to quality of outcomes. Much of the highest quality care is actually available at the lowest costs.

Warren Buffett: “Medical costs are the tapeworm of American economic competitiveness.”

What is MyMedicalShopper?

A comprehensive set of innovative solutions to reduce the overall cost of employer-sponsored health insurance while increasing employee health and financial wellness. MyMedicalShopper is guided by the following principles:
- Price Transparency
- Deductible Security
- Alignment of Financial Incentives
- Cost-Efficiency
- Health Plan Efficacy

Why MyMedicalShopper?

Because prices paid for medical tests and procedures by employer-sponsored insurance patients (you and your group!) vary radically across in-network healthcare providers. Data shows we often pay 5 to 20 times more than we need to, which does not translate to higher quality. These price variations account for close to 41% of wasteful spending for most groups.
- Significantly reduces annual healthcare spend and future premiums, with no decrease to employees’ utilization, by implementing a proven healthcare consumerism model and eliminating inefficient spend.
- Develops intuitive rewards programs that steer employees to shop for cost-effective care, even when spending employer dollars
- Provides guidance to employees to address their unique healthcare needs while supporting long-term financial goals
- Generates actionable insights and deep analytics to easily identify and implement cost-containment strategies

Interested? Schedule your free consultation with our cost containment specialist.

“We were immediately impressed by the power, ease-of-use, and broad applicability of MyMedicalShopper to our client base.”

Joel AllumbaughPresident & CEO of The Allumbaugh Agency

“We embraced MyMedicalShopper for its ability to enable our clients and their employees to actively participate in their healthcare decision-making. Giving consumers control over their healthcare spending is critical, and we’re excited about the savings potential that MyMedicalShopper can help our clients realize.”

Robert CummingsCEO, American Benefits Group

“They have cracked the code for driving consumerism in healthcare.”

Robert CaliseManaging Director of The Hilb Group New England

“Rising healthcare costs are the most difficult challenge facing our clients today, so we were excited to find MyMedicalShopper making huge strides in this area.”

Rob CommissoPrincipal & Co-founder of ComTon Inc.

“We think MyMedicalShopper has built the best platform for delivering information and empowering medical consumers. We’re excited to bring its solutions to our clients and help them drive down their healthcare costs.”

Michael ParksManaging Director of Financial Services, Higginbotham

“With deductibles skyrocketing, consumers in the market today are in desperate need for better information and tools to help them reduce costs. We’re excited to be able to combine our top-notch consumer-directed health accounts with the MyMedicalShopper solution for our benefit consulting partners and our clients.”

Cliff MohrCEO of Group Dynamic, Inc.

“We recognize the critical need for better information and technology for empowering consumers. We’re excited to be able to incorporate MyMedicalShopper into our expert solutions for employee benefits and health plan design for our clients.”

Jules GaudreauPresident of USI, Springfield

“Employers and their employees need access to tools and information to become empowered medical consumers and take control over their healthcare spending. We’re excited to be able to offer the MyMedicalShopper solution to our clients and help them get proactive about driving down their costs.”

Greg SingletonPrincipal & Co-founder of ComTon Inc.

“We talk a lot about our healthcare cost crisis in the country, but no proposed solution has anywhere near the same potential as price transparency. This is how we can reverse the trend of rising healthcare costs.”

Mark GalvinCEO & Co-founder of MMS Analytics, Inc. dba MyMedicalShopper

“At a time when many organizations are trimming benefits, we want to offer our members more, at a fraction of the cost. Individuals need to know where to find the best quality care, at the best possible price. We already know our health plans and coverage is exceptional, so why not provide our membership with the right tools to help control costs?”

Philip HealyExecutive Director, AWANE

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