Report issued jointly by Departments of Health & Human Services, Labor, and Treasury
MyMedicalShopper, a national healthcare price transparency solution that enables patient consumerism, welcomes recommendations in a newly issued report by three U.S. government agencies to improve “choice and competition” in the nation’s healthcare system.
“Anytime we can incentivize and reward consumerism, especially in healthcare, we should,” said Mark Galvin, President and CEO of MMS Analytics, Inc., the creator of MyMedicalShopper.
The report, “Reforming America’s Healthcare System Through Choice and Competition,” was issued jointly by the U.S. Departments of Health & Human Services, Labor, and Treasury. The report outlines a strategy to promote consumer-driven healthcare, citing that consumers are insulated “from the true price of health care…When federal and state health policies give consumers more control over their health care dollars, they can use that power to demand greater value,” the report said.
MyMedicalShopper is a comprehensive platform for employers designed to drive down the cost of healthcare while improving employee benefits. The platform includes the nation’s leading medical price transparency tools for employees, dynamic rewards programs, and robust analytics packages for employers.
Galvin said that the power of MyMedicalShopper is rooted in more than 3.4 billion actual, post-adjudicated medical claims, coupled with cutting-edge integrations with the software powering health insurance plans, third-party administrators, and brokers.
MyMedicalShopper is available through benefit brokers and consultants serving both the fully insured and self-funded employer markets. MyMedicalShopper provides a comprehensive platform for employers who want to take control of their healthcare costs and empower their employees with a tool that makes shopping for medical care as easy as a Google search.
MyMedicalRewards™ provides a dynamic HRA or HSA funding mechanism that drives good consumer behavior even when employees are spending employer dollars. It combines reference-pricing models with the MyMedicalShopper shopping experience to reward employees for choosing low-cost, high-quality medical care, thus reducing medical claims.
MyMedicalShopper’s Employer Dashboard provides CEOs, CFOs, and HR leadership with direct visibility into their group’s claims experience, engagement with MMS programs, and realization of savings. MyMedicalMetrics™ is an enhanced feature of this dashboard—a robust claims analytics package that shows employers exactly how their employees are victimized by hidden pricing, inadvertently driving up their own costs and overall claims experience for the group. Employers can use this new information to team up with their employees, identify specific savings opportunities, and build targeted campaigns that drive meaningful behavior change and claims reduction for their groups.
About MMS Analytics, Inc. (www.MyMedicalShopper.com)
MMS Analytics, Inc. dba MyMedicalShopper™ is a big data company on a mission to revolutionize healthcare. The company was started out of the need to bring transparency to consumers and the companies who provide healthcare benefits to their employees—providing the leverage needed to make solid decisions on their healthcare and improve their quality of life. Consumers previously unaware of price variations in procedures and testing can utilize real-time health insurance plan pricing information that makes it possible to choose care based on price, quality, and convenience. Experts document that as much as $1 trillion could be slashed annually from the cost of healthcare in the U.S. MyMedicalShopper aims to transform the healthcare industry into a fair market for consumers.
MMS Analytics, Inc.