SpendWell Adds New Provider Group to Online Marketplace
PREFERRED Therapy Providers members gain access to new group of direct-pay patients
JULY 22, 2014 — SpendWell HealthTM, an online marketplace for health care services, has signed an agreement with PREFERRED Therapy Providers Inc., a network of more than 1,200 physical, occupational and speech therapy clinics nationwide. Through the partnership, members of PREFERRED’s network can now expand their business’ reach through SpendWell’s e-commerce platform to provide cash-based health care services.
SpendWell is building a nationwide online marketplace to give consumers with high deductibles a way to shop for quality routine health care services at competitive and fair prices. The marketplace gives providers an opportunity to expand their business and treat more cash-paying patients with no financial risk.
“PREFERRED was founded on the principle of connecting our providers with resources that support and grow their businesses,” said Steven Allred, PT, president of PREFERRED Therapy Providers, Inc. “SpendWell’s online marketplace gives our members a way to offer their services at clear, real-time pricing and attract patients who are looking for providers who understand their need to be smart with their health care dollars.”
As high-deductible health plan adoption continues, consumers bear more health care cost responsibility. As a result, employers are exploring benefits like SpendWell to help their employees manage their health care spending while still receiving quality care.
“SpendWell offers many benefits to providers, and we’re excited that PREFERRED Therapy Providers is partnering with SpendWell to put their providers at the forefront of the market,” said Marcee Chmait, president of SpendWell. “Our online marketplace for health services gives providers a way to speed their revenue cycle management, improve their business operations and grow their business through additional accessibility.”
Shopping with SpendWell is simple. Consumers search for health care providers and services, see reviews from other patients, determine their out-of-pocket costs for services and pay online for selected services prior to the appointment. After the patient’s appointment, providers simply click to verify services and SpendWell releases the patient’s payment.
Examples of health care services that will be available on SpendWell include provider office visits, laboratory tests, imaging, outpatient procedures and specialty services from chiropractors and acupuncturists as well as speech, occupational and physical therapists.
SpendWell is currently building its provider base before offering their service to employer groups nationwide. The SpendWell service is expected to launch at the end of 2014. For more information about SpendWell, visit SpendWellHealth.com.
About PREFERRED Therapy Providers Inc.
Founded in 1992, PREFERRED Therapy Providers, Inc. (PREFERRED) connects PPO’s, Health Plans and Third Party Payers with their network of over 1,200 private practice physical, occupational and speech therapy practices nationwide. For more information, visit PreferredTherapy.com .
SpendWellTM is an online marketplace where employees with high-deductible health plans can shop and buy health care services directly from providers. With clear pricing on everything from routine wellness exams and preventive care to screenings and urgent care, employees will be able to maximize the health care dollars they have to spend. And caring for direct-pay patients will give providers more time to focus on people, not paperwork. SpendWell is a wholly owned subsidiary of Cambia Health Solutions, Inc. Learn more at CambiaHealth.com. For more information about SpendWell, visit SpendWellHealth.com.
SOURCE: Cambia Health Solutions, Inc.