Global Awards News

FORT LAUDERDALE, FL: MediXall.com (OTCQB: MDXL), a technology and innovation-driven organization focused on reducing healthcare costs and transforming the patient-provider experience, today introduced their Healthcare 2020 initiative.

“With the launch of MediXall.com driving a high volume of consumers visiting our site, searching for services, and comparing providers, we were able to identify that there was confusion surrounded by High Deductible Health Plans. The cause of this was lack of education to the consumer,” said Michael Swartz, President of MediXall.com. “The average consumer does not understand the basic language of health insurance and are unsure of their potential costs for treatments, products, and services. This makes it difficult for patients to know up front how much they will have to pay out-of-pocket, which in turn adds stress and hesitancy to their buying decisions. With Healthcare 2020 which includes new products within MediXall, we will focus on uncomplicating Healthcare as a whole.”

To accomplish this goal MediXall has built its Healthcare 2020 Initiative around three priorities:

• Developing a Healthcare platform that can work seamlessly with consumers, providing them with a detailed analysis of their current healthcare plan and state.

•  Focusing on using the power of technology to simplify decision-making and educating to understand and navigate one’s healthcare regardless of your health insurance status

•  Creating a community of like minded individuals who are perplexed by the current state of healthcare and who are ready to take matters into their own hands when it comes to understanding and acting proactively on their healthcare.

This new initiative is supported by two recent studies. In the 2017 McKinsey Consumer Health Insights (CHI) Survey reported that “consumers now directly control $330 billion annually in out-of-pocket healthcare expenses, and the choices they make have the potential to affect 61% of all healthcare spending.” In addition, they note that many people would like to be better healthcare consumers, better able to make decisions that address their own healthcare needs. But notably, the survey found that “most of the respondents said that they do not believe they can do that today.”

Unlike most other consumer-driven transactions, there is a significant outside influence driving patients’ decisions: Health insurance.

Health insurance introduces cost uncertainty into virtually every patient-driven decision. As reported in the 2018 Alegeus Consumer Health & Financial Fluency Report, consumers don’t understand the basics of health insurance. Nearly half (42%) said they “aren’t confident they understand how health insurance works.” Half (50%) said they “don’t know what counts toward their deductible.” And nearly half (45%) “don’t know how to validate whether a procedure is covered by their plan.”

Michael Swartz states, “All this research indicates that a large number of consumers don’t fully understand the basic language of health insurance and are unsure of their potential costs for treatments, products, and services. This makes it difficult for patients to know up front how much they will have to pay out-of-pocket, which adds hesitancy to their buying decisions.”