National Launch of Integrated HSA Product Enhancement for Banks and Credit Unions
My Medical Control, LLC the innovator in claim cost management tools and services to the consumer, delivers new medical claim pricing tools to account holders with high deductible health plans through innovative partnerships with Banks and Credit Unions.
Louisville, KY (PRWEB) February 2, 2007
My Medical Control, LLC today announced the formal launch of an electronic enrollment and communication program for financial services organizations offering Health Savings Accounts to their customers with a qualified high deductible health plan.
My Medical Control, LLC provides a revolutionary new business delivery model to account holders with Health Savings Accounts and a correlating High Deductible Health Plan by offering a consumer-friendly, secure, and independent opportunity to analyze their out of pocket medical bills against a national medical claim "charge-to-reimbursement" database. The analysis ensures any individual with an out-of-pocket medical bill, obtains the lowest wholesale price from their medical provider before they pay their portion of the bill. The wide discrepancy in actual reimbursement rates negotiated by insurance companies and offered by providers to the insured consumer has created a structure where consumers with high deductible health plans pay very different prices for the same procedure and from the same provider. The service application is designed to evaluate a consumer medical bill to ensure that the final rate being paid by the consumer is the lowest "wholesale rate" available from the medical provider regardless of health plan affiliation or provider network. The service is 100% risk-free as the consumer only pays for the service by sharing a portion (%) of the amount actually saved.
"The tremendous growth within the banking and credit union market related to HSA's and the increasing pressure to provide healthcare-related decision support tools to assist their customers in better managing their actual out-of-pockets costs is what drove us to create this new electronic integration opportunity" says Timothy E. Cahill, President & Managing Director of My Medical Control, LLC. "Our service and business delivery model is very complimentary to an HSA product offered by a bank or credit union. We provide co-branded, easy, and secure access to our review and settlement services at no cost to the financial institution. This new application allows their customers 24/7 access and 100% utilization control while saving their customers real money and helping both parties grow their asset base".
My Medical Control, LLC combines several industry proven and successful cost management principles, a national medical claim charge-to-reimbursement database, an advanced technology driven workflow, and a team of highly skilled and professional staff and packages it into an easy to use, secure, risk-free web application available to the account holder on demand.
"We provide a practical tool from the consumers' perspective, that assists them in managing the complex issue related to price transparency, or lack thereof says Cahill. When a consumer realizes that they may be paying significantly more than others for the exact same care, from the exact same medical provider, they become motivated into action. Unfortunately, they have little access to independent resources that can really help them, until now.
The electronic integration and communication program from My Medical Control, LLC has been in limited production with several national banks and credit unions for over 12 months, and is now available to any qualified bank or credit union interested in providing healthcare related tools and resources to their account holders. The new financial institution integration and communication program can be customized and operational in as little as 30 days.
About My Medical Control, LLC
My Medical Control is a privately held consumer-driven medical claim cost management company incorporated in 2004, with offices in Louisville, Chicago, and Austin, TX. My Medical Control is an innovative technology company specializing in medical claim data capture and analysis with specific focus on consumer-centric program design and application development. For more information, please visit our website at http://www. mymedicalcontrol. com (http://www. mymedicalcontrol. com)
Contact Information:
(866) 218-0538
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