Our Strategic Focus
We propose creating a region by region medical services and products e-Marketplace to allow purchasers of products and services, including but not limited to consumers, insurance companies, self-insured employers, at-risk providers (such as Accountable Care Organizations) and others, to solicit bids from vendors including diagnostic companies and product providers based on location quality customer satisfaction results and best value.
This regional medical/healthcare e-marketplace will allow patients to confidentially (using coded profiles and encrypted member identification) solicit for the MRI services (and all other services and products) within a given radius of their location. It will have multiple Providers for all services, reversed bidding for the product or services a variety of conditions that may be selected by the patients such location proximity, delivery time and insurance network affiliation to be bid on by the Provider based on their cost structure, immediate capacity and availability and ability to meet the Patient’s selections.
In our example, a patient may be willing to do an MRI if the cost was lower on an evening or even a weekend to pay less, or may be willing to pay slightly more to receive the MRI the same day. The benefit to providers is self-evident; access to a patient that they may not have had any access to, and higher equipment utilization through higher volume. It also allows an MRI Provider, in our example, to price to the market based on the volume they are seeing.
Presently, the only way to obtain a healthcare appointment is to call around and few patients understand or are offered choices that could reduce their out-of-pocket cost. Our healthcare marketplace will enable availability and pricing at internet speeds.
We believe the basic technology required to develop and deploy the MediXaid Platform exists and may be replicated without material concerns for infringement or licensing issues. The most obvious examples of existing and open source platforms are the open barter systems created for such programs as Angie’s List®, eBay®, ThumbTack® and others. The MediXaid Platform will be developed by a software development team fully capable of developing the entire platform.
The key factors in the platform are a) the anonymity of the patient, b) the availability of a sufficient number of “bidders” and c) the ability of the patient to pay for the service directly on line. Item b (above) is what drives us to the large metropolitan areas where there is sufficient numbers of medical service providers to create a competitive environment.
All providers of products and services on the MediXaid platform will be required to participate in a basic credentialing review that would include: review of State-issued professional and occupational licenses, Medicare Medicaid NPI (National Provider Identifier), National Practitioner Data Bank and third-party certification such as NCQA, JTC, HFAP, AAACA or others approved by The Company. The Provider’s professional staff bios and CVs on all licensed healthcare providers will be mandatory and the MediXaid Certification symbol will be displayed on the website along with the listing. We expect to be capable of providing ownership disclosure on nearly all Providers. Meanwhile, the consumer on the buying side of the transaction will be protected by their aforementioned rolling encryption, uniquely coded profile and member identification for each user.
Our revenue model is comprised of six components.
- An annual maintenance fee of $250.00 per Provider
- Technology fees to be paid by the service Providers for each encounter.
- Billing transaction fee to facilitate payment of services.
- Strategic advertising to consumers.
- The sale of de-identified data analytics.
- Upgradeable membership user profiles to export their healthcare data.
We intend to establish a Beta in the South Florida region (Miami-Dade, Broward and Palm Beach Counties) and to deploy the platform through introduction to 2,000 physicians and providers that previously contracted with The Quantum Group, Inc. (QGP). Additionally, through personal contacts of our partners at QGP and PWeR®, Inc., we anticipate obtaining contracts with several hundred medical supply, durable medical equipment, diagnostic and imaging centers, as well specialist healthcare providers in our beta-test region of South Florida. These initial providers will launch the platform and allow us to reach out to the patient/consumer population through local Primary Care and Specialty Care Providers in South Florida.
Also, as the platform enters the marketplace we will be looking to work with PWeR, Inc. to integrate the MediXaid Electronic Marketplace with the PWeR, Inc.™ electronic health record (EHR) platform PWeR (personal wellness electronic record) through their Patient Portal. This integration will be the first of what we believe will be many such integrations of the MediXaid Electronic Marketplace to other leading EHR and medical practice management platforms. In addition to these future integrations with EHR platforms, the MediXaid platform will continue to be available as a standalone subscription directly via the internet. This integration substantially accelerates the ease of a patient or provider access the providers on the MXI Electronic Marketplace.