Summary: MedScores-as-a-Service (MSaas) are the ultimate cloud-administered bad debt busters for doctors and hospitals.
Problem: Did you know that underinsured Americans default on 60% of their healthcare bills? Doctors and hospitals do. In fact, these parties write off $80Bn ($350K on a per practice basis) in bad debt associated with the “self-pay” portion of health care bills each year! Said another way, bad debt for these groups = 15% of revenue! myMedScore drops that by 1/3, or 100K!
Root cause: The reimbursement model of US healthcare. “Which part of the bill is mine???”
Accelerant: The Affordable Care Act, which will triple High Deductible Health Plans by 2020.
“I’m insured. Treat me. Thanks, I’m better… what’s a deductible?”
Solution: A trust-based, big data driven compliance score (a MedScore) and institutionalized payment protocols that ensure patients get served, each time, regardless of circumstance and doctors get paid, in-full, upfront.