MDsave United States Patent 11,315,160 (Issue Date 04/26/2022)
For prepaid bundled healthcare services with virtual payment distribution
NASHVILLE, Tenn., April 21, 2022 /PRNewswire-PRWeb/ — MDsave, the nation’s leading online purchasing platform for healthcare procedures, secured United States Patent No. 11,315,160; U.S. Pub. No. 2022-0012787A1, for Prepaid Bundled Healthcare Services With Discreet Virtual Payment Distribution. This newly issued patent is the latest of 14 US issued patents directed to prepaid bundled healthcare services.
The MDsave platform offers patients a selection of bundled healthcare services and determines an all-inclusive price for procedures covering an entire care episode. MDsave collects payment from the patient and generates a digital record designed to individually track the redemption status of individual services that are part of a prepaid bundled set, providing the patient selectively redeemable access to the individual services throughout the episode of care. The MDsave proprietary software then distributes payment to the respective providers for each of their unique services included in the bundle.
“We are pleased with the issuance of this Omnibus Patent which significantly broadens the scope and strengthens the core of MDsave patented technology” says Paul Ketchel, chief executive officer, MDsave.
The Hospital Price Transparency Rule expands on the Affordable Care Act’s requirement that hospitals make public their standard charges for all services. Most hospitals comply by publishing their chargemasters, which list thousands of billing codes and undiscounted prices. Unfortunately this fails to tell consumers what they will have to pay out-of-pocket nor does it identify lower-cost alternatives that meet their needs. 74% of patients report feeling confused about their medical bills due to receiving multiple bills for one visit, medical jargon, and missing itemized service breakdown.
MDsave’s mission is to make healthcare accessible to everyone by changing the way we shop for care.
For more information, please see additional information about the patent here.
About MDSave
Headquartered in Nashville, TN, MDsave is the nation’s leading online purchasing platform for healthcare services — bringing together patients seeking affordable, reliable care with providers offering high-quality services at fair prices. Through innovative technology, MDsave simplifies the healthcare billing process for patients and providers alike through transparent bundled pricing and upfront payment. MDsave’s patented technology also supports employers and payers to deliver more value to employees and policyholders minimizing out-of-pocket deductible costs. For more information, visit http://www.mdsave.com.
Media Contact
Lauren Tilelli, MDsave, +1 (858)414-4117, Lauren@punchingnungroup.com
SOURCE MDsave
