MDsave

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MDsave is a healthcare ecommerce company co-located in Grover, Delaware, and San Francisco, California.

The company officially launched in 2013.^[1] MDSave connects uninsured patients, health savings account holders, and high deductible health insurance patients with medical providers who offer pre-negotiated savings on medical services.^[2]

MDsave was founded in 2011 in Brentwood, Tennessee^[2] by Paul Ketchel, the current CEO.^[3][4] Paul Ketchel was formerly chief operating officer of Diagnostics Network Alliance and a director for American Capitol Group.^[3]

MDsave officially launched in 2013.^[1][5] They had raised more than $14 million from investors and earned $5 million in 2015, with investors including MTS Health Partners.^[6] By 2015, it was in place in 24 states.^[1] Through the company's website, patients can compare local prices for different medical procedures; choose the price and provider that work best for them; and pre-purchase a voucher that covers all expenses.^[7]

In August 2016, MDsave secured a $5 million investment from Cambia Health Solutions^[8] and was doing around 2,000 transactions per month.^[9]

In June 2018, MDsave began working with St. Cloud Regional Medical Center.^[10] At the end of 2018, MDsave had expanded to a network of more than 200 hospitals across 29 states.^[11]

In May 2019, Gwinnett Medical Center became the first Atlanta-area hospital to partner with MDsave.^[12]

In March 2020, MDsave announced the appointment of Greg Born, a former global strategy leader for Amazon, as the new company president and COO.^[13]

In September 2023, MDsave was acquired by Tendo for $150 million.^[14]

MDsave offers medical providers a way to package their services into a single bundled procedure online,^[6] and offers consumers paying out of pocket a way to comparison shop different providers.^[1] It is the world's first transactional healthcare marketplace.^[3]

A patient searches for a treatment or procedure in a location, and MDsave returns a list of providers in that area with price, location and doctor's ratings. A patient purchases the bundled procedure, which includes all associated fees and services, using PayPal, a credit card or a financing plan online. The patient receives a voucher to present to the doctor's office at their first appointment. The providers get paid within four days, versus the average 60–90 days through insurance.^[1]

MDsave uses a patented technology^[15][16] that cross-references Medicare billing codes, procedural codes, and diagnosis codes to create an upfront price for the bundled services involved in a single treatment or procedure.^[6]

Through the MDsave marketplace, patients have access to a wide variety of medical procedures at up-front prices, along with simplified billing and educational resources.^[17] The prices posted on the site are pre-negotiated with individual doctors or hospitals, and include all costs associated with the procedure, including physician billing; patients do not receive another bill.^[18][10]

In November 2018, MDsave partnered with CareCredit, a health, wellness and personal care credit card offered by Synchrony Bank, to offer promotional financing for patients.^[19]

MDsave works with providers to bundle complex medical procedures into a single upfront payment, which provides consumers with discounted out-of-pocket healthcare bills.^[20]

MDsave Plus is geared toward employers as a supplement to employee health benefits. MDsave negotiates prices with providers and then passes the savings along to employees, who can save up to 60% on their medical costs.^[6]

MDsave works with hospital groups and ambulatory surgical centers. In 2016 it had a presence in 24 states and 120 markets, and was growing at a rate of 20% month over month.^[6] Providers in 2015 included Dignity Health, Catholic Health Initiatives, Community Health Systems, Tenet Healthcare and others.^[1]

Board members include former Senate Majority Leader Dr. Bill Frist.^[6]

• www.mdsave.com