A Brentwood Tennessee startup called MDSave is connecting self pay patients with a choice in healthcare that they hadn’t had before. Doctors who use the MDSave platform share their prices and extend deals to self pay patients and those with high deductible health insurance plans.
MDSave doesn’t only provide more options for those self pay patients, but in turn they help keep the emergency rooms and urgent care clinics less crowded. Perusing the MDSave website you can find that doctors are competing for those self pay patients so they keep their services affordable.
The doctors on the platform pay a small subscription fee. Patients on the other hand, use the platform to search for the type of medical service they need by zipcode. Once they’ve selected a participating doctor they pay in advance through the MDSave platform and they’re giving a voucher to see the doctor they selected. The voucher is redeemed at the appointment to cover the cost. This way, not only are self pay patients getting much needed healthcare the doctors are eliminating the risk associated with collections and the messy process it can be to collect from a self pay patient at the end of the appointment.
MedCitynews is reporting that a SEC filing has revealed that MDSave is in the middle of a $1 million dollar equity raise.
MDSave’s founder and CEO Paul Ketchel is a former member of former Tennessee US Senator Bill Frist. Ketchel is also the son in law of Tennessee Representative Marsha Blackburn.
According to MedCityNews the capital raised in this round will be used to expand MDSave outside of Tennessee.
Check out MDSave here