Medmo lets patients set price for radiology imaging tests
por Thomas Dworetzky, Contributing Reporter | July 16, 2018
Business Affairs
Is it Priceline.com time for scan pricing?
“The ‘name your price’ concept has worked well in the travel industry, and we’re leveraging our expertise and vision in the medical space to provide patients with a unique, innovative solution that meets their medical needs at a cost that fits within their budget,” says Medmo co-founder and CEO Dr. Christopher Kelly, a New York-based cardiologist, entrepreneur, and author.
The firm he founded has now developed a platform that enables patients to pay just what they can afford for physician-ordered imaging tests.
“Medmo is designed to make medical imaging more accessible to the underinsured. Tests like MRIs and CT scans are essential for managing medical conditions, but there have been countless reports of people getting surprise bills for thousands of dollars,” Lelly told HCB News, stressing that, “we want to return control to patients by letting them set the total, all-inclusive price for their test. We also want to provide a new way for imaging providers to offer variable discounts in order to keep their equipment active and profitable. If an MR scanner is likely to go unused for an hour, and the personnel are already there, why not provide access to someone who can’t afford standard prices? The travel industry adopted this model long ago, and it has benefited everyone.”
Kelly was pushed into the project as he regularly treats underinsured patients and felt the need firsthand for this approach – especially in this era of high-deductible insurance.
Kelly's co-founder, Medmo CTO Shaun Tobias, is leading the software engineering efforts.
Imaging practices sign up by indicating the location of their centers and the modalities offered at each. Explained Kelly, “they then automatically receive e-mail notifications whenever a patient in their area needs a scan. Each notification includes the patient’s available times and maximum price he or she can afford. “
If the center wishes to accept, it selects an available time and instantly books the patient.
Medmo automatically notifies the patient of the location, time, and date of the scan, charges them up-front for the test, and sends payment to the center. There is no cost for imaging centers to sign up for the service, and they do not pay any booking fees or commissions.
As an added incentive to sign up with Medmo, facilities “also don’t have to deal with pre-authorization or claim submission, since the patient pays in full before the test,” Kelly pointed out, adding that the deal is flexible for the imaging centers.
“The ‘name your price’ concept has worked well in the travel industry, and we’re leveraging our expertise and vision in the medical space to provide patients with a unique, innovative solution that meets their medical needs at a cost that fits within their budget,” says Medmo co-founder and CEO Dr. Christopher Kelly, a New York-based cardiologist, entrepreneur, and author.
The firm he founded has now developed a platform that enables patients to pay just what they can afford for physician-ordered imaging tests.
“Medmo is designed to make medical imaging more accessible to the underinsured. Tests like MRIs and CT scans are essential for managing medical conditions, but there have been countless reports of people getting surprise bills for thousands of dollars,” Lelly told HCB News, stressing that, “we want to return control to patients by letting them set the total, all-inclusive price for their test. We also want to provide a new way for imaging providers to offer variable discounts in order to keep their equipment active and profitable. If an MR scanner is likely to go unused for an hour, and the personnel are already there, why not provide access to someone who can’t afford standard prices? The travel industry adopted this model long ago, and it has benefited everyone.”
Kelly was pushed into the project as he regularly treats underinsured patients and felt the need firsthand for this approach – especially in this era of high-deductible insurance.
Kelly's co-founder, Medmo CTO Shaun Tobias, is leading the software engineering efforts.
Imaging practices sign up by indicating the location of their centers and the modalities offered at each. Explained Kelly, “they then automatically receive e-mail notifications whenever a patient in their area needs a scan. Each notification includes the patient’s available times and maximum price he or she can afford. “
If the center wishes to accept, it selects an available time and instantly books the patient.
Medmo automatically notifies the patient of the location, time, and date of the scan, charges them up-front for the test, and sends payment to the center. There is no cost for imaging centers to sign up for the service, and they do not pay any booking fees or commissions.
As an added incentive to sign up with Medmo, facilities “also don’t have to deal with pre-authorization or claim submission, since the patient pays in full before the test,” Kelly pointed out, adding that the deal is flexible for the imaging centers.
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