Consumers Name Their Price for Paying Medical Expenses
PR Log - Aug 27, 2012 - As the government and the healthcare industry make headway implementing health care reform mandates, consumers are looking for innovative options to reduce their out-of-pocket medical expenses, now and in the future. Fortunately, MDPromptPay.com, an internet medical negotiation company, created the “Name Your Price” negotiation option to do just that.
"As the healthcare industry shifts to a pay for performance reimbursement structure, consumers can now use this same methodology, “said Richard Profusek, Founder and CEO. “Since perception is reality, a consumer’s perceived satisfaction of a provider’s quality, performance and service now plays a pivotal role in the amount consumers will pay for medical services. The Name Your Price option allows consumers to determine the bottom line amount they are willing to pay for the services they received before paying any medical bill promptly. "
MDPromptPay puts a focus on provider compensation by negotiating discounts for consumer’s out of pocket medical expenses. The new Name Your Price option is yet another way for consumers to define how their medical expense dollars are used.
“We take the same negotiation tactics reserved and used between the powerful insurance and healthcare industry and open that up for consumers,” said Profusek. “The days of paying a bill without taking into account quality, performance and service is an obsolete practice which no longer guides the future. This is an industry game-changer.”
To get started, a consumer with a medical bill of $250.00 or more logs in to MDPromptPay’s website http://www.mdpromptpay.com and enters the billing information and the amount they are willing to pay the provider. When those steps are completed, the consumer pays a processing fee to start the negotiation process. MDPromptPay does the rest by negotiating a discount with the provider.
Once the negotiation begins, consumers are kept informed electronically throughout the entire negotiation process and when the negotiation is complete MDPromptPay requires the provider to sign a letter of agreement outlining the discount terms. Having a signed letter of agreement is essential to ensure that the discount is honored. If the provider later attempts to collect more than the agreed upon amount, the consumer has a signed document in place that can be used to enforce the discount.
MDPromptPay saw new opportunities and invented a new future with new solutions for the American health care consumer based on the principals of integrity, respect and financial responsibility for all parties involved.