SpendWell is building a nationwide online marketplace to give consumers with high deductibles a way to shop for quality, routine healthcare services at competitive and fair prices. The
gives providers an opportunity to expand their business and treat more cash-paying patients with no financial risk.Inc., a network of more than 1,200 physical, occupational, and speech therapy clinics n
ationwide. Through the partnership, members of PREFERRED’s network can now expand their business’ reach through SpendWell’s e-commerce platform to provide cash-based healthcare services.
“PREFERRED was founded on the principle of connecting our providers with resources that support and grow their businesses,” said Steven Allred, PT, president of PREFERRED Therapy Providers, Inc. “SpendWell’s online marketplace gives our members a way to offer their services at clear, real-time pricing and attract patients who are looking for providers who understand their need to be smart with their healthcare dollars.”
As high-deductible health plan adoption continues, consumers bear more healthcare cost responsibility. As a result, employers are exploring benefits like SpendWell to help their employees manage their healthcare spending while still receiving quality care.
“SpendWell offers many benefits to providers, and we’re excited that PREFERRED Therapy Providers is partnering with us to put their providers at the forefront of the market,” said Marcee Chmait, president of SpendWell. “Our online marketplace for health services gives providers a way to speed their revenue cycle management, improve their business operations, and grow their business through additional accessibility.”
Shopping with SpendWell is simple. Consumers search for healthcare providers and services, see reviews from other patients, determine their out-of-pocket costs for services, and pay online for selected services prior to the appointment. After the patient’s appointment, providers simply click to verify services and SpendWell releases the patient’s payment.
Examples of healthcare services that will be available include provider office visits, laboratory tests, imaging, outpatient procedures, and specialty services from chiropractors and acupuncturists, as well as speech, occupational, and physical therapists.
SpendWell is currently building its provider base before offering the service to employer groups nationwide. The service is expected to launch at the end of 2014.
Source: Roaring Lion Public Relations for SpendWell Health