Industry-Leading Healthcare Price Transparency Company Offers Full Refund if Benchmark ROI Not Met
Portsmouth, NH – March 17, 2020 – MMS Analytics, Inc. dba MyMedicalShopper, a leading provider of healthcare price transparency solutions, introduced a program that guarantees a minimum ROI for its clients, and as much as a full refund of total fees paid if those minimum thresholds are not met.
“We’ve always believed in the power of our service, and we’re thrilled to put our money where our mouth is and really show that,” said MyMedicalShopper co-founder and CEO Mark Galvin. “With more than six years of driving customer success under our belts, we can confidently put this guarantee in front of all our future clients and promise to make a huge impact on their bottom lines.”
MyMedicalShopper will use the Consumer Interest Score™, MyMedicalShopper’s proprietary consumer behavior metric, to evaluate “the relative levels of consumer engagement and shopping behavior that a given [health insurance] plan design should expect to drive among its enrollees.” Using this score as a baseline, MyMedicalShopper will guarantee medical claims savings of at least double, triple, or quadruple the total fees paid over the course of the agreement.
“There’s a lot of noise in the healthcare industry, and it’s even louder in the benefits software world,” said Christopher Matrumalo, MyMedicalShopper’s VP of Marketing. “Organizations are bombarded by a million different offers, promises, and gimmicks, and it’s hard to tell the difference between the things that are going to make a difference and the things that are just a distraction. We want our offering to speak for itself, and I think this minimum ROI guarantee should tell our clients everything they need to know about our service.”
This announcement comes on the heels of industry recognition for MyMedicalShopper’s high performance. Last year MyMedicalShopper was validated by the Validation Institute, who found that the company had a credible impact on healthcare costs and delivered on its marketing claims. The Validation Institute is an independent, objective, third-party organization who specializes in verifying the program performance of vendors in the health benefits market.
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.
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.
ClaimsFlow automates much of the administrative burden and error-prone human processes involved in adjudicating employee reimbursements for CDH accounts. Participants can leverage connections to more than 100 insurance carrier and health plan member portals to facilitate rapid adjudication of claim reimbursements and automatic substantiation of debit card transactions.
About MMS Analytics, Inc. (www.MyMedicalShopper.com)
MMS Analytics, Inc. dba MyMedicalShopper™ is a big data company on a mission to build technology, products, and services to drive meaningful savings from the cost of healthcare in the United States. The company was founded on the belief that fixing the broken healthcare marketplace required a focus on the alignment of financial incentives, medical price transparency, and the reduction of administrative overhead. The company empowers employers and their employees with the ability to choose care based on price, quality, and convenience with unprecedented access to the previously secretive prices negotiated between insurance carriers and providers. Experts document that as much as $1 trillion could be slashed annually from the cost of healthcare in the United States. MyMedicalShopper aims to help transform the healthcare industry into a fair market for consumers.