MediXall Group (OTCQB:MDXL) has launched a new generation healthcare marketplace platform to address self-pay and high deductible consumers’ growing need for greater healthcare cost transparency and access to competitive pricing information.
“Our platform makes scheduling an appointment for specific healthcare services as simple and easy as booking a flight and hotel,” Michael Swartz, president, says in an interview with BioTuesdays.
“The online experience was designed to mirror e-commerce and online booking sites found in other markets: centered on providing consumers with ratings and reviews, transparent pricing, and comparative shopping,” he adds.
Last November, the company launched its MediXall.com platform in Florida, with plans to expand nationally. The company also inked a strategic partnership with CoreChoice, a leading specialty network for diagnostic radiology, including MRI, CT, PET, X-rays, ultrasounds and mammograms. The accord provides MediXall with access to more than 22,000 fully credited radiology providers and facilities throughout all 50 states.
“Once the existing network reaches its full dimension, the platform will include everything from dental to vision to cardiology, physical therapy, internal medicine and more,” he adds.
Mr. Swartz explains that with MediXall.com, consumers are able to search and compare most medical, dental and wellness services based on all-in cash price; location and distance to the provider; ratings and availability; and select the best value according to their personal preferences.
“In this era of rapidly increasing deductibles and healthcare costs, our cloud-based platform is designed to be transformational and disruptive to traditional methods of medical care and providing medical services to the consumer,” he contends.
To use MediXall.com, a user books a service on the website with a credit card, which locks in the price but is not charged until the service is provided. MediXall.com sends the payment to the physician or lab and, in return, the company receives an administration fee of $15 from the transaction.
“Through refinements of the pricing model, we have learned that we can make more than the $15 technology fee per appointment,” he adds.
According to Mr. Swartz, surveys have shown that patients want to obtain pricing information for various treatments from their doctors, but doctors previously haven’t had a tool to help patients save money.
As a result, the company recently launched the MediXall Patient Experience platform as a tool for physicians to share information about the cost and location of upcoming care options.
“This system empowers patients to take control of their healthcare by showing options personalized for each self-pay and underinsured patient, how much it will cost, and more,” Mr. Swartz points out. “Gone are the days of unsupported patient searches for the right specialist or lab that accepts their insurance.”
Mr. Swartz says MediXall.com’s plans for 2019 include ramping up MediXallRx, free tool that allows consumers to search and compare prescription drug prices and receive immediate savings of up to 80% with their MediXallRx Savings Card at the cash register for both generic and brand prescription medications.
The card is accepted nationwide at more than 60,000 participating pharmacies, including Walgreens, CVS, Target, Walmart, and other national chains, as well as regional and local drugstores, he adds.
The company also has partnered with a national lab company and “negotiated pricing” in order to launch a laboratory testing services program. “This new program will provide a seamless ordering experience for physicians to search, compare, and order affordable pre-curated panels or design custom lab test orders for their patients,” Mr. Swartz contends.
With the recent appointment of Dr. Howard Braverman to its advisory board, MediXall is preparing for an expansion into eye care. Dr. Braverman is a former president of the American Optometric Association and was the national vision director for Humana’s Employer Group Segment.
Mr. Swartz says Dr. Braverman is assisting the company with the critical areas of identifying and pursuing key strategies to help facilitate MediXall’s rollout into the vision space.
MediXall also has entered initial negotiations that will facilitate adding additional in-demand medical and dental specialties on MediXall.com over the next three-to-six months.
MediXall.com’s growth strategy involves expanding from its current base of Florida to major cities that have strong coverage with the CoreChoice network, Mr. Swartz says.
“This would allow us to accelerate expansion and continue to increase our provider network with minimal effort and cost, focusing our resources on marketing to the consumer, and on technology development,” he adds.
Beyond Florida, the company expects to expand to Texas, concentrating on four regions: Dallas-Fort Worth, Houston, San Antonio, Austin and El Paso. The strategy also anticipates expanding by using a West-Southwest strategy, focusing on New Mexico, Arizona, Washington State, Colorado, Oregon, and Nevada, as well as high-density areas in Pennsylvania, New York, Massachusetts, Delaware, Illinois, Ohio and Indiana.
National Expansion Plan
“We are still in the early stages of learning how to bring new value to our customers through the intertwining of consumer technology and healthcare,” Mr. Swartz says. “Our goal remains to solidify and extend our brand and customer base. This requires sustained investment in systems and infrastructure to support outstanding convenience, selection, and service while we grow.”
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