Healthcare Bidding

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MedbidAs Americans find out first-hand just how out of control our healthcare costs have become, they are struggling to find methods of saving money when having medical procedures, tests and even routine examinations. One such method becoming rampant, is bid soliciting from physicians online.

MediBid.com, a highly visited website, is helping Americans receive value-priced services by shopping around ahead of time. In an ironic twist, providers who compete on this website – and others of its kind – are now lowering their costs and competing with other providers to try to win your business.

Just about any type of healthcare service can be requested on healthcare bidding sites. Whether you need a well visit, a follow-up office visit, a visit with a Specialist, or if you simply want to compare prices for a surgery, most healthcare bidding sites will accommodate.

The process for a physician on a bidding site such as MedBid.com is as follows: The physician will submit his or her fee, which depends on the level of activity on the site, and send documentation of his or her medical license, certifications, experience and expertise. The physician will then submit the lowest price he or she will accept for certain procedures and services.

Patients can browse the doctors’ bids and choose what best fits their needs and their pocketbook. Patients will be charged either $25 for a one-time submission or they can sign up for a year-long contract that will cost them $4.95 per month. With the monthly plan, bids are unlimited for the term of the contract.

According to an article published on CNN Money, the site often saves the patient up to 80% and can help patients pay up to 50% less than what insurance companies typically negotiate with providers.

Healthcare services bidding keeps overall prices low, because physicians offer their rock-bottom prices. Additionally, it saves you the time and headache of having to negotiate ahead of time. Negotiating a Fair and Reasonable price before a healthcare service is one of the best proactive practices for a consumer, and healthcare bidding makes it easy.

 

Bidding Catching On

As of January 2014, patients had signed up for 2,000 procedures and doctors had bid on 10,000 procedures and services.

Be sure to research the physician you are considering before leaping. Use a website like HealthGrades.com or RateMDs.com to see what other patients say about the care they received from a physician. If there are a lot of negative reviews, this might be the reason the physician is having to drum up business online. Of course, numerous highly-respected well-reviewed physicians utilize this service to help keep business flowing at an optimal rate.

While this form of healthcare shopping might sound ideal, experts warn that this should not be used as an alternative to carrying health insurance. In an emergency situation, the patient will not have the ability – or the time – to bid on care. However, for procedures and services that you have time to plan for, this type of service could be ideal.

Hopefully, sites such as these will help healthcare transparency become a reality and will aid patients in finding the most affordable care possible, without sacrificing quality of care. With every step our country takes in the direction of healthcare pricing transparency, we are getting a little bit closer to Fair and Reasonable healthcare pricing in the U.S.

Filed under: US Healthcare, Resources, Obamacare, Consumer Section, Affordable Care Act

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