MDsave

MDsave was founded in 2011 in Brentwood, Tennessee by Paul Ketchel, the current CEO.{{Cite web|url=https://techcrunch.com/2015/09/29/the-transition-from-sick-care-to-well-care-and-the-rise-of-the-patient-consumer/|title=The Transition From Sick Care To Well Care And The Rise Of The Patient-Consumer|last=Cable|first=Kevin|website=TechCrunch|access-date=2016-08-10}} Paul Ketchel was formerly chief operating officer of Diagnostics Network Alliance and a director for American Capitol Group.

MDsave officially launched in 2013.{{Cite web|url=https://www.viachristi.org/blog/mdsave-ascension-via-christi-partner-offer-discounted-procedures|archive-url=https://web.archive.org/web/20190627212333/https://www.viachristi.org/blog/mdsave-ascension-via-christi-partner-offer-discounted-procedures|url-status=dead|archive-date=June 27, 2019|title=MDsave, Ascension Via Christi partner to offer discounted procedures|website=Via Christi Health|language=en|access-date=2019-06-27}} They had raised more than $14 million from investors and earned $5 million in 2015, with investors including MTS Health Partners. By 2015, it was in place in 24 states. Through the company's website, patients can compare local prices for different medical procedures; choose the price and provider that work best for them; and pre-purchase a voucher that covers all expenses.{{Cite web|url=https://www.carecredit.com/newsletter/2018/winter/mdsave/|archive-url=https://web.archive.org/web/20190627212457/https://www.carecredit.com/newsletter/2018/winter/mdsave/|url-status=dead|archive-date=June 27, 2019|title=MDsave could lower your out-of-pocket healthcare costs {{!}} CareCredit|website=www.carecredit.com|access-date=2019-06-27}}

In August 2016, MDsave secured a $5 million investment from Cambia Health Solutions{{Cite news |last=Comstock |first=Jonah |date=2016-08-11 |title=Cambia invests $5M in price transparency company MDSave |url=http://www.mobihealthnews.com/content/cambia-invests-5m-price-transparency-company-mdsave |access-date=2017-10-05 |work=MobiHealthNews |language=en}} and was doing around 2,000 transactions per month.{{cite web |last=Fletcher |first=Holly |title=MDsave puts set price on procedures in your pocket |url=https://www.tennessean.com/story/money/industries/health-care/2016/09/07/mdsave-marketplace-lets-people-shop-for-medical-service-online/89714258/ |website=The Tennessean}}

In June 2018, MDsave began working with St. Cloud Regional Medical Center.{{cite web |last=Miller |first=Naseem S. |date=29 June 2018 |title=St. Cloud Regional partners with MDsave to bring price transparency |url=https://www.orlandosentinel.com/health/os-stcloud-regional-mdsave-20180629-story.html |website=orlandosentinel.com}} At the end of 2018, MDsave had expanded to a network of more than 200 hospitals across 29 states.{{Cite web |last=Anderson |first=Julie |date=26 December 2018 |title=Expedia for health care? CHI Health lets patients buy vouchers for discounted medical procedures |url=https://www.omaha.com/livewellnebraska/expedia-for-health-care-chi-health-lets-patients-buy-vouchers/article_5f0c14df-c284-5ed7-982d-d312e761d0cd.html |access-date=2019-07-12 |website=Omaha.com |language=en}}

In May 2019, Gwinnett Medical Center became the first Atlanta-area hospital to partner with MDsave.{{Cite web |last=Hughes |first=Isabel |date=3 May 2019 |title=Gwinnett Medical Center partners with MDsave to help patients save money |url=https://www.gwinnettdailypost.com/local/gwinnett-medical-center-partners-with-mdsave-to-help-patients-save/article_79704030-6d20-11e9-97c2-536d1a294528.html |access-date=2019-06-14 |website=Gwinnett Daily Post |language=en}}

In March 2020, MDsave announced the appointment of Greg Born, a former global strategy leader for Amazon, as the new company president and COO.{{Cite web |last=Embry |first=Robin |date=2 March 2020 |title=MDsave Appoints Former Amazon Leader as Company President and COO |url=https://www.biospace.com/article/mdsave-appoints-former-amazon-leader-as-company-president-and-coo/ |access-date=2020-03-03 |website=BioSpace |language=en-US}}

In September 2023, MDsave was acquired by Tendo for $150 million.{{Cite web |last= |title=Tendo to Acquire MDsave, Creating Leading Platform for Patient Engagement and Shoppable Care |url=https://www.benzinga.com/pressreleases/23/09/n34943145/tendo-to-acquire-mdsave-creating-leading-platform-for-patient-engagement-and-shoppable-care |access-date=2023-09-27 |website=Benzinga |language=English}}

MDsave offers medical providers a way to package their services into a single bundled procedure online,{{Cite web |last=Kutscher |first=Beth |date=2 April 2016 |title=Building bundles for self-pay patients |url=http://www.modernhealthcare.com/article/20160402/MAGAZINE/304029977 |access-date=2016-08-10 |website=www.modernhealthcare.com}} and offers consumers paying out of pocket a way to comparison shop different providers.{{Cite web |last=Reilly |first=Dan |date=2015-09-28 |title=How this U.S. startup plans to save lives, lower medical bills |url=http://fortune.com/2015/09/28/medical-startup-plans/ |access-date=2016-08-10 |website=Fortune}} It is the world's first transactional healthcare marketplace.{{Cite web |last=Ketchel |first=Paul |date=11 March 2016 |title=A patient's guide to high-deductible health care plans |url=http://www.nydailynews.com/life-style/patient-guide-high-deductible-health-care-plans-article-1.2561857 |access-date=2016-08-10 |website=www.nydailynews.com}}

A patient searches for a treatment or procedure in a location, and MDsave returns a list of providers in that area with price, location and doctor's ratings. A patient purchases the bundled procedure, which includes all associated fees and services, using PayPal, a credit card or a financing plan online. The patient receives a voucher to present to the doctor's office at their first appointment. The providers get paid within four days, versus the average 60–90 days through insurance.

MDsave uses a patented technology{{Citation|last=Ketchel|first=I. I. I.|title=United States Patent: 9123072 - Network-based marketplace service for facilitating purchases of services and products|date=September 1, 2015|url=http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%252Fnetahtml%252FPTO%252Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=9123072&OS=9123072&RS=9123072|accessdate=2016-08-10}}{{Citation|last=III|first=Paul John Ketchel|title=Network-based marketplace service for facilitating purchases of services and products|date=Sep 1, 2015|url=https://patents.google.com/patent/US9123072|access-date=2016-08-10}} that cross-references Medicare billing codes, procedural codes, and diagnosis codes to create an upfront price for the bundled services involved in a single treatment or procedure.

Through the MDsave marketplace, patients have access to a wide variety of medical procedures at up-front prices, along with simplified billing and educational resources.{{Cite web |last=De Lomaerde |first=Geert |date=3 January 2019 |title=Change Healthcare takes MDSave stake: Companies plan to add payment options |url=https://www.nashvillepost.com/business/health-care/article/21040316/change-healthcare-takes-mdsave-stake |access-date=2019-07-12 |website=Nashville Post |language=en}} The prices posted on the site are pre-negotiated with individual doctors or hospitals, and include all costs associated with the procedure, including physician billing; patients do not receive another bill.{{Cite web|url=https://www.stcloudregional.com/news-room/mdsave-and-st-cloud-regional-medical-center-help-p-13588|title=MDsave and St. Cloud Regional Medical Center Help Patients Save Money, Access Needed Care {{!}} Newsroom|website=www.stcloudregional.com|access-date=2019-07-19}}

In November 2018, MDsave partnered with CareCredit, a health, wellness and personal care credit card offered by Synchrony Bank, to offer promotional financing for patients.{{Cite web |last=Staff |date=2018-11-16 |title=CareCredit & MDsave launch strategic partnership helping improve access to healthcare |url=https://www.beckershospitalreview.com/healthcare-information-technology/carecredit-mdsave-launch-strategic-partnership-helping-improve-access-to-healthcare.html |access-date=2024-01-16 |website=www.beckershospitalreview.com |language=en-gb}}

MDsave works with providers to bundle complex medical procedures into a single upfront payment, which provides consumers with discounted out-of-pocket healthcare bills.{{Cite web |last=Kelly |first=Kerry |date=7 January 2019 |title=Change Healthcare Makes Strategic Investment in MDsave |url=https://www.changehealthcare.com/press-room/press-releases/detail/change-healthcare-makes-strategic-investment-in-mdsave |access-date=2019-07-29 |website=Businesswire |language=en}}

MDsave Plus is geared toward employers as a supplement to employee health benefits. MDsave negotiates prices with providers and then passes the savings along to employees, who can save up to 60% on their medical costs.

MDsave works with hospital groups and ambulatory surgical centers. In 2016 it had a presence in 24 states and 120 markets, and was growing at a rate of 20% month over month. Providers in 2015 included Dignity Health, Catholic Health Initiatives, Community Health Systems, Tenet Healthcare and others.

Board members include former Senate Majority Leader Dr. Bill Frist.

• {{URL|https://www.mdsave.com/}}

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Category:Medical and health organizations based in Tennessee

Category:Health care software

Category:Bill Frist