The U.S. healthcare system is broken. Health plans only negotiate rates with providers once every three to five years. Facilities account for an increasingly large percentage of our healthcare spend. There is enormous variability in pricing for the exact same service with no correlation to quality of the experience or clinical outcomes. Today consumers don’t see that variability and providers have no mechanism to address it.
With the shift toward high deductible health plans, the consumer is responsible for managing more of their healthcare costs and isn’t tolerating having no voice. And they’re looking to their physician to safeguard both their medical and financial health.
In 2012, Jonathan Weiss, MD, and Professor Amitabh Chandra, founded HealthEngine to solve these issues. They had seen the HealthEngine model work in Europe and knew the U.S. could benefit from a similar approach. The answer is HealthEngine’s dynamic marketplace for healthcare services where both consumers and physicians/facilities win. Consumers can choose the most cost-effective healthcare providers without compromising quality. Physicians have control over how they are described in the market and can choose to practice out of more cost-effective facilities. And the most value-oriented facilities have an opportunity to earn more business.