By John Backus Managing Partner, New Atlantic Ventures
Source: Huffington Post [JULY 12, 2013] — It is estimated that by 2016, 25 percent of independent practices are shifting away from the insurance reimbursement system and requiring patients to pay for treatment directly. They are sick and tired of insurance companies and the government (via Medicare and Medicaid) trying to “save money” by driving down how much they pay doctors per visit or per procedure. They are looking for cash-paying customers who will pay the same amount (or even a lower amount) without the high transactional costs of the claims-based insurance system. And they’re adopting simple tools like ZocDoc and PokitDok to market what they offer and let patients find convenient appointment times with doctors online.
Cash pricing is hitting retail too. CVS bought MinuteClinic, and posts cash prices for services at every store. Other medical services, like Qliance, which we got behind alongside Bezos Expeditions and others, are pioneering “Direct Primary Care” offering you unlimited access to and service from your primary care doctor for less than $100 a month, whether you have insurance or just want to pay directly, in cash, like you would a gym membership.
The cash marketplace — all unintended benefits of the ACA.
So be prepared for the big changes coming — new, simpler, more direct, economical access to doctors.
It will be the best thing that has happened to health care in 75 years.