MDSave

About MDSave

MDSave operates as an online healthcare marketplace designed to bring transparency to medical service pricing. The company was established in 2012 by co-founders Paul Ketchel and Keith KOF-uhn. Prior to founding MDSave, Paul Ketchel had a background in the medical device industry, where he observed the financial struggles of patients with high-deductible health plans, which directly inspired the creation of the company.

The platform connects self-pay patients, as well as those with high-deductible insurance plans, to a network of healthcare providers who offer bundled prices for medical procedures. This business model addresses the lack of price transparency in the healthcare market. It allows consumers to shop for and compare costs of various medical services, such as imaging, outpatient surgery, and lab work, from different providers in their vicinity. Revenue is generated by taking a percentage of each transaction facilitated through the marketplace.

The core service revolves around offering 'bundled' procedures, where a single, upfront price covers the costs typically billed separately by the physician and the facility. This approach simplifies the billing process, eliminating surprise bills for patients and reducing administrative burdens for providers. By paying in advance through the MDSave platform, patients secure a lower price than they might otherwise pay out-of-pocket, while providers benefit from reduced collection costs and faster payments. In 2022, MDSave was acquired by Tendo, a company focused on creating a more connected experience in healthcare, integrating MDSave's shoppable marketplace into its broader patient engagement platform.