When a patient with health insurance is in need of an expensive medical procedure, the actual cost of the procedure may not seem material to her once it’s clear that it will exceed the deductible—the amount the patient must pay out of pocket—set in her insurance plan.
For instance, a patient whose health plan covers all costs beyond a $1,000 deductible on a hip replacement surgery may not feel compelled to shop around when she knows she’ll be paying the same dollar amount for a procedure that costs $32,000 as one that costs $26,000. That’s according to Eric Haberichter, co-founder and CEO of Access HealthNet, a Milwaukee-based startup that’s developing software aimed at helping employers save money on their employees’ healthcare.
Access HealthNet’s service is mainly used by employers that self-insure, meaning they’re responsible for paying the majority of their workers’ bills when they receive care. The company provides tools that help employers determine, among all the hospital and clinic networks covered under an employee health plan, which provider charges the least for a particular procedure or treatment, Haberichter says. He adds that Access HealthNet focuses on “episodes of care” where costs tend to vary from provider to provider—meaning those that could offer the highest potential savings. Read the full story here.
Access HealthNet will be a presenter at the 2017 Early Stage Symposium. Learn more about the conference here.