MDSave, a Brentwood, Tenn.-based company that allows consumers to buy healthcare services over the Web, has added former U.S. Senate Majority Leader Dr. Bill Frist to its board of directors.
The company, launched in June 2012, allows consumers to research and compare prices for physician office visits and procedures. The site is targeted toward patients who don't have insurance or are enrolled in high-deductible insurance plans.
It also promises to speed up collections for physicians, giving them an incentive to join the site and bypass third-party payers. MDSave collects payments from its members and delivers them within six business days of the patient's appointment—a faster turnaround than insurance payments, which often take 90 to 180 days to post.
In a December interview with Modern Healthcare, Frist highlighted that risk increasingly is being shifted from payers and businesses to individuals and providers.
“The role of the consumer will be greatly magnified in the future,” he said, noting that this is one of the key challenges facing healthcare executives. “The role of the patient, the consumer, the individual who will be better educated and making demands, new demands on the system and insisting on transparency and accountability.”
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